Letter from Collectcorp

This is a letter they send notifying you that they are now collecting on your account. You can write them back only if you are disputing that you owe any money. But since you do owe the money you can contact them and ask them to send you statement showing the balance of what you owe. Maybe they will be willing to accept monthly payments from you. Even if they don't want to agree with the monthly payments you can still send them payments anyway and they are required to apply it to your account. Even if it's only $5 or $10 a month, you should try to send a little something.

You could still possibly handle this with oc which is probabaly better to do.Accounts usually dont go into to chargeoff until 180 days past due.Chances are this debt hasnt actually been sold yet.
I would sent out a dv letter to this collector 1st. You can find sample letters in the do it yourself section on this forum.Then call the oc to see if you can work something out with them.
Believe me you dont want to wait until they decide to sue. It will just add more worries you dont need.

Forgot to tell you that this debt is from my parents's CC. They retired and left the country. I would like to settle it with lowest amount possible since my parents don't care about their credit score/history anymore. I don't want to get into lawsuit with this myself, so I would like to settle them when I got the money. I have heard that I can just ignore this debt since they have nothing except an checking account with social secuity direct deposited into it. They can't garnish that even there's a judgement. But I just don't want to go thru this myself, so I would like to settle. Pls let know what is the best advice for my situation.

You don't legally owe this debt until you have jointly signed for it. Paying now will make you responsible for the account and will be reported in your credit file.

Since this is your parent's debt and if you have not jointly signed it, collection company cannot report anything in your credit file. After knowing the facts, do you still feel like paying the account?

Hi Flying Cats,
But like I said, they still have a checking account with the SS direct deposited into it. I don't want the Collectig Agency to freeze it and start garnish it if I choose to do nothing. So is it better to settle with the American Express or the Collecting Agency? I think I can get better deal with Collecting Agency. Heard that OC won't go below anything like 50%. Assume they won't be sueing me. :-(

SS is exempt from garnishment for unsecured cc debt.So no worries there.In order to freeze ones checking account a judgment would still have to be entered.The only way you may get a better deal with the CA is if the debt was actually sold to the 3rd party collector, if not and the collector is simply collecting for the oc they still have to have approval from oc for any settlement amount.

Hi Taksmom476 and all,
I know SS is exempt from garnishment, but you will need to file a paper on court or something. My parents wont' be here to do that and I can't do it for them, right? I've heard that if you open a net account or Paypal, the CA can't find any info on those type of account hence can't garnish. Is it true? I don't think I can ask the SS to direct deposit the SS to Paypal, right? Thanks a lot!

I am a legal counsel and deal with matters such as this on a regular basis. If you have been sent to a collection agency there are a number of options, without knowing the full depth of your case it would be hard for me to comment or legally advise you, merely because you might end up deeper in a creditors risk; but most of the time they can be sorted out. My office in Ontario is (905) 563-****

Phone number removed as per forum rules- Mike

How can they find it? What state's laws govern the garnishment? Thank you!!

I need address for collectcorp corporation in birmingham, al.

Po box 101928; dept 4947a; birmingham al 35210-1928 is what i have.

Hi! I'm Penitito Galo, and I'm tired of keep calling at this number 866-754-6001 and no one can respond and I'm really sad. The reason why I call is to get an information or notification from Bank of America or CollectCorp. I'm already pay off my credit card (VISA) and I need a letter to update my information to make sure that my credit has done already. Here is my e-mail phone numbe I really need help. Thankyou.

Penitito, this is a public message board that provides advice on how to get out of debt, I removed your personal information, please do not post personal information on the Internet! You will need to contact them directly as we are not affiliated with them.