GECC writing off my account

GREAT NEWS!!

I just received a call from GECC - they are writing off my account!! Zero balance WHOOPPE!! I Sent them a letter couple of weeks ago and I just mailed it - didn't even send it certified return receipt!! THey are sending me an email and a hardcopy of the email!! Hey Payday Avenger you said they wrote you off too?

Well, that's really great news. You must check your credit report also and see that the copy has been updated. This is one great move of seeing your credit improving. Congratulations!

Thanks!! Makes me feel a whole lot better - I had made payment arrangements with their collection agency SIMMS now I don't have to worry about that one either.

what is GECC??

great job oh2benc2

Yes, they wrote my balance off too. Congrats to you!

Wow,I wish I could get the same reponse,but nothing yet,I have decided that a law suit my be in order now.I have contacted the AGs office in thier state and they are investigating it now.Ive gone thru my bank records and realize that I have paid them even more than I had first thought.The total interest is more than $5000 for a little over a year.Im very glad your news.

twokidtwocat:

I'll pm you the letter I sent them.

TwoKid:

I emailed you the letter as an attachment

Thanks,Oh2benc2

YEAH, congrats on another one down.

And twokidstwocats, I hope that by being insistent, and pressing for at least have the acct marked paid in full, that the company will do the same for you. It never hurts to keep trying.

I am dealing with GECC right now through Cash Direct Express. I have sent them a letter twice and they emailed me, they sent me to a collection agency. I faxed the letter to them and I emailed the letter to them asking them to settle with me.

Any advice on what else I can do?

Hi mjirwin17

You can work out arrangements with the GECC even after they have sent the account to some collection agency. Chances become rare when they sell the accounts to the CAs. But in most cases, they don't.

So, you have to explain your situation to GECC and offer a realistic payment plan. I am sure they will be willing to work with you. You can send some advance money also to make this proposal effective. Do all your correspondences in writing through certified mail and keep everything documented.

GECC collection agency is Simms and I talked to a lady name Debra Watson - she is very nic I had a $600.00 loan we settled for $300.00 and I was going to make payments of $100. for 3 months - they got my letter and wrote me off zero balance.

I have a loan from GECC that is showing up on my credit report. I went to their website and now they do not issue loans in my state anymore. I live in Maryland and I got he loan with them when I lived in Maryland. I am not sure what to do about this. I already closed the checking account they were drawing from sometime last year. My question is where should I start the fight? Is there something I can do since I live in Maryland? Help please as I am new to the credit clean up thing.

Hi felartwell

Since you have taken the loan from GECC in the past, they will insist you to pay it back. However, it should be within the permissible interest caps in your state. Contact them and request for an itemized statement so that you can work out a payment with them. Review the statement before you make a payment.

Once the account gets paid off, it will be marked as paid in your file. This will improve your credit.