who to I pay

Date: Fri, 03/16/2007 - 17:59

Submitted by anonymous
on Fri, 03/16/2007 - 17:59

Posts: 202330 Credits: [Donate]

Total Replies: 3

Found this site doing search of Academy Collections. Here's the long & short of it: Original creditor is Sears. After I was on a bank draft payment plan for 2 yrs, I called & asked them to lower the interest rate. Was told they can't, but if I were to not pay, I'd go to collections and then the CA would be able to make a deal with me. I now know this was bad advice, but I did what that nice lady advised. Now I'm dealing with Academy and like with everyone else who posted here about them, they wanted all the $ or nothing--until January, when they finally accepted 2 payments. I just checked my EQ cr and see that Lvnv Funding is collecting for this acct., and posted that payment. So, now I'm confused. Who should I be paying? I saw reply posts that advise to call Sears and just pay them, but since they wouldn't budge with lowering my interest rate before, they'd most likely want the full amt, whereas the CA will take less. What should I do? Trying to improve my fico, which was 647 2yrs ago when this all began and is now down to 515. Please advise.

If LVNV is on your CR, and your payment posted to them, then pay

If LVNV is on your CR, and your payment posted to them, then pay LVNV. You can attempt to contact Sears, but it sounds like they sold the debt. Send a DV letter to each LVNV and Academy to be sure. While you're at it, send a letter permitting only written communication from the CA. Mail each letter return receipt.

Keep us posted

lrhall41

Submitted by Morningstar on Fri, 03/16/2007 - 20:14

( Posts: 1633 | Credits: )

You are definately going to want to validate this debt, write th

You are definately going to want to validate this debt, write the collection agency and ask them for debt validation, you can find many examples on this forum. Just do a debt validation search under google.

lrhall41

Submitted by fedupinpa on Sat, 03/17/2007 - 04:37

( Posts: 1511 | Credits: )

Before you make another payment, ask for validation of the debt.

Before you make another payment, ask for validation of the debt. Then get a payment agreement in writing for less than the full amount. Most CA's will accept up to 50% of the debt, sometimes less. Just make sure you get the settlement agreement in writing before you pay.

lrhall41

Submitted by texaslawyer on Sat, 03/17/2007 - 16:30

( Posts: 258 | Credits: )