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Need Advice W/ Making Payments

Date: Thu, 12/28/2006 - 10:38

Submitted by jcrab1
on Thu, 12/28/2006 - 10:38

Posts: 86 Credits: [Donate]

Total Replies: 3


I have a Sears account that I defaulted on. The balance is about $10,000. It is now with a collection agency. I was trying to refinance back in June and working with them trying to settle. I was unable to refinance. I contacted the agency and they told me that my file was now with another agency. I called the new agency and tried to set up payment arrangements. They would not accept the arrangements I could afford. I have not heard anything from them since June, which is a good and bad thing. I want to start paying something on the account. I contacted Sears directly in June when the agency wouldn't agree to my payments and Sears told me that they can't discuss the account with me because it is now with an agency. The women did say that if I went into Sears and made a payment that it would be accepted.

Since June, I have been trying to come up with the amount of money that the agency required to set up payment arrangments. I am unable to do this, but want to pay something on the account because I know it is only a matter of time before they sue.

I don't want to stir anything up by calling because they haven't even contacted me since June. I know they haven't forgotten about it!

My question is, should I just go into a Sears store and try to make a payment, or should I contact the agency? If someone could help me with this, I would greatly appreciate it.


My advice would be to go directly to Sears and pay on the account, since a Sears representative told you it would be accepted. Pay something, anything - even $20 a week or $50 a month - make some effort towards paying it to show you do intend to pay it. Ignoring it while you try to come up with the money they want is not going to work in your favor.


lrhall41

Submitted by SUEBEEHONEY70 on Thu, 12/28/2006 - 10:43

( Posts: 4583 | Credits: )


Confirm the latest status of this account. Sears won't accept any payments from you if they have sold it off to a collection agency. It looks like Sears still has your file and the CA is just hired to recover the money for them. You will be able to send your payments to Sears if they have your file in their system. You may need to do your negotiations in a better way.

Whether you pay to Sears or to a collection agency, the money sent by you has to be ultimately posted towards your account. I am assuming the debt collector has given you enough information to confirm their collections are legitimate. Make arrangements after you have called Sears and after you have the debt validated by the CA. You need to be clear in writing that the CA is authorized for the collections on your account and they will be posting payments to Sears.


lrhall41

Submitted by a_neblat on Thu, 12/28/2006 - 10:48

( Posts: 407 | Credits: )