Collection agencies

Date: Sat, 09/27/2008 - 13:08

Submitted by anonymous
on Sat, 09/27/2008 - 13:08

Posts: 202330 Credits: [Donate]

Total Replies: 4

This is not a question but a comment: When a creditor sells your information or debt to a collection agency they don't communciate with one another effectively. Both parties are continuously and aggressively trying to collect your money. If you pay off a debt---always keep your receipt of payment and pay by cashiers check or personal check -- once they cash in on the payment request a confimation of payment along with a letter stating that the debt was satisfied in full from the creditor. My suggestion-- After this is completed---Make several copies of these documents---because others will try to collect, sometimes they sneakingly try to collect on the remaining balance after a settlement was agreed upon.

Never pay a collection agency with a personal check, use cashier

Never pay a collection agency with a personal check, use cashiers checks and money orders only. Do not pay until you have a signed agreement in hand detailing that the debt was Paid in Full, Settled in Full, Pay for Delete or Pay for psoitive reporting on your CR's. Wait for documentation from a CA after you have paid and you will likely grow moss. 99 out 100 times it won't happen.

lrhall41

Submitted by NASCAR_Devil on Sat, 10/04/2008 - 09:28

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No company is going to send a PIF letter BEFORE you pay it. Nor

No company is going to send a PIF letter BEFORE you pay it. Nor do they care about your CR. 99% that is up to the OC unless the CA is a debt buyer... which then they own your account and aren't really a CA.

lrhall41

Submitted by on Sat, 10/04/2008 - 15:41

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Idiot, A CA is always a CA, even if they buy the debt. I

Idiot,

A CA is always a CA, even if they buy the debt. In the world oc credit there are the companies that give credit (OC) and everybody else.

Just because a CA buys a debt does not change their status in the eyes of the law.

lrhall41

Submitted by on Sat, 10/04/2008 - 16:07

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Quote:No company is going to send a PIF letter BEFORE you pay it

Quote:

No company is going to send a PIF letter BEFORE you pay it

Yes...you are an Idiot! Of course they're not. The agreement would not be binding until the consumer provided payment. The key is having the agreement signed by the CA(JDB). Once they agree to the arangement, the consumer pays and has documentation in the form of the signed agreement and a cancelled financial instrument. Duh!

Quote:

that is up to the OC unless the CA is a debt buyer

Just so you understand....CA's don't buy debts...junk debt buyers buy debts...CA's collect for JDB's. A JDB can also be a CA but not for the accounts it has purchased.

Thank you for you idiotic input :evil:

lrhall41

Submitted by NASCAR_Devil on Sun, 10/05/2008 - 17:52

( Posts: 4671 | Credits: )