Asset

I'm pretty nervouse I did this over the phone too, I'm not real sure what will happen. The arrangement I made was for 2 payments of $425 (one next Friday, the other a month later). I did this out of panic but am realizing the severity of it

Did you give them any bank account info?
If so close the account now.

Did they send anything in the mail regarding the deal? If not then when they call back tell them that you are waiting for the promised letter of agreement.

What is the debt for?

When was the last payment made?

What state do you live in?

IS THIS DEBT YOURS?

I am in PA ...the debt was originally a gym membership. I have received one letter in the mail but it wasn't a deal. The debt is mine though (though not sure of the amount). The thing is i told them i would on the phone and i'm trying to go about the best way to go about this so i don't get sued

agreeing over the phone doesn't matter.keep in mind that this and other bottomfeeders go back on verbal agreements daily.how long ago since you got that letter?also i agree in that you should close that account.they could bleed you dry then claim you still owe.wouldn't put it past them.

I did not give acct info, they had mentioned either moneygram or to call in day of payment with acct info.

the letter i don't remember, a while ago though.

if it was more than a month ago then DV letters are not going to do much.you can send them still,but they don't have to validate now.

They would, however, have to provide to you that they LEGALLY bought this debt from your gym, who sold it to them, etc. You can and should send that letter off immediately along with letting them know you will not be paying them the 2nd installment as you do not know who they are and have no proof. Then close your bank account and open another one in another bank.

I will send such a letter but i can't even afford the first installment i mentioned on the phone agreement..

Send them a DV letter, this will stop them from suing because they will have to validate prior to the court awarding anything which they can't.

DO NOT mention the agreement in your letter. You do not want this in writting unless it comes from them.

How old is the debt?

What is the SOL in PA?