credit default

[Anonymous]

i recently received phone call from CA saying i have defaulted on credit card debt(i missed 4 payments). debt is $1600 on mastercard. i offered partial payment, but was rejected...CA said they would only accept full payment, and that full payment is due in several days. what are likely consequences if i can't make full payment? do you think CA is likely to sue for $1600 debt? bulk of debt is for travel expenses, like airplane tickets. can CA legally repossess any assets?

i'm really concerned about this....i'm a 22-year old student, and this is the only CC i've ever had. i'm a violinist, but suffered injury to my arm which cut off ALL income for 8-9 months (i can document doctor & physical therapy visits). my injury has healed, and i now have three jobs to try to pay off this debt. do you think in light of this info, CA will be willing to work out payment plan? i'm really naive about credit/collections and am losing LOTS of sleep...HELP!!

[vonniegirl]

Welcome Sergetp!

You should read a little more on Collections and debt validation.

1) Do not talk to the CA. You may have already given them too much information.

2) You must start a paper trail.

3) Look at the sample letters and begin Debt Validation.

You have the documentation for absence of payment but you owe no explanation to the CA.

Glad you're back at work. I paid my way through school playing flute & piccolo in the symphonic band :) .

You're going to be okay, but it would help if you read a little more on the different forums.

Good Luck to you and stay focused. Don't let them scare you ;) . The best thing you could have done to help yourself is to become a registered member. You're young and if all you have is this one account it's going to be a piece of cake :) . Forget about what the CA said, if they call again, tape them! There are laws to protect you!