I can't sleep. I have been told if i cannot pay my debt by Monday 27, my file will go to the NY office and the astronomical fees AND interest of 31.25% will apply and it will be reported to the credit bureau? I have a fairly moderate good credit score and wish to protect it, however, to be told if i don't pay by Monday really worries me? Yesterday (2-25-06) i receieved my first letter from AI (dated 2-20-06) and it says put payment in the mail? Do i have a time period before it is reported? Or is it already reported? Here's my situation: i don't have all the money right now. My debt is a valid debt and i will pay told AI i would; however, i don't see them willing to work with me on payment arrangments. I was pressured to to a post dated check for a rather large amount (1/2 my debt) for Monday 2-27-06 but honestly, i don't have it all. I'm splitting hairs here trying to come up with that portion of my debt before Monday at 10:30 E.S.T. They tell me it i pay something now, my file, when it goes to NY, will look better than not making a payment at all. I have asked for two weeks and i should have it all but they won't budge. What can i do? They have threatened this reporting will automatically cancel my other c/c, including my corporate cards? I really don't want this, especially. Help!
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