I have heard that if you're a senior on ssi or ssid or retirement your income is protected by Federal and state laws you don't have to pay your credit cards or payday loans/personal loans. What a relief and peace of mind.
@MichaelBovee If I am on SSI and my income is protected by Federal and state laws and debt collectors can not come after my income, can they come after my spouse and make him pay my debt to collectors? My spouse is not on SSI he is full time employed.
I have one loan with Upstart and it just went 120+ days. I called on Monday asking to set up a new payment plan and was rejected if I couldn't come current with 5k payment. They now sent an email saying to call and maybe work out a plan. Would they ever redo a repayment schedule at a lower payment? They current want 1500 a month. The debt started with a payment of 1150. I could now handle 1k a month. Is this reasonable to ask? Beginning loan was 40k, I paid it down to 32k before decrease in pay a year ago and with interest it is now back to 40k.
You could call and talk to them about the options they have available. Now that you have the credit damage, you may want to consider settling for less. I can assist you with negotiating a balance reduction and getting the time you need to pay that. You can schedule a call to talk about this strategy with me here: calendly.com/debtbytes/15min
I have 2 upstart loans, both 30 days late. One is $5k one is $23k. I want to settle (for less) the $23k loan. I assume I have to let it charge off… will upstart accept settlement before selling debt? Will it be at charge off (when is that, 90 days late?). Could I expect 30% of total as a settlement? I can pay the full settlement by end of June. (I look very collectible on paper)
You can talk to Upstart between 90 and 120 days late and see if they will work with you on a settlement prior to charging your account off. If not, you would likely be dealing with a third party if waiting until June. I would need to know a bit more about your situation to comment on what you may be able to settle with Upstart for.
Thanks!
Welcome!
I have heard that if you're a senior on ssi or ssid or retirement your income is protected by Federal and state laws you don't have to pay your credit cards or payday loans/personal loans. What a relief and peace of mind.
I have a video up about this here: th-cam.com/video/cWEpO_M_G5s/w-d-xo.html
@MichaelBovee If I am on SSI and my income is protected by Federal and state laws and debt collectors can not come after my income, can they come after my spouse and make him pay my debt to collectors? My spouse is not on SSI he is full time employed.
I have one loan with Upstart and it just went 120+ days. I called on Monday asking to set up a new payment plan and was rejected if I couldn't come current with 5k payment. They now sent an email saying to call and maybe work out a plan. Would they ever redo a repayment schedule at a lower payment? They current want 1500 a month. The debt started with a payment of 1150. I could now handle 1k a month. Is this reasonable to ask? Beginning loan was 40k, I paid it down to 32k before decrease in pay a year ago and with interest it is now back to 40k.
You could call and talk to them about the options they have available.
Now that you have the credit damage, you may want to consider settling for less.
I can assist you with negotiating a balance reduction and getting the time you need to pay that. You can schedule a call to talk about this strategy with me here: calendly.com/debtbytes/15min
I have 2 upstart loans, both 30 days late. One is $5k one is $23k. I want to settle (for less) the $23k loan. I assume I have to let it charge off… will upstart accept settlement before selling debt? Will it be at charge off (when is that, 90 days late?). Could I expect 30% of total as a settlement? I can pay the full settlement by end of June. (I look very collectible on paper)
You can talk to Upstart between 90 and 120 days late and see if they will work with you on a settlement prior to charging your account off. If not, you would likely be dealing with a third party if waiting until June.
I would need to know a bit more about your situation to comment on what you may be able to settle with Upstart for.