Another Question on my payday loans

msmishele30

If they've agreed to accepting the payments through your consolidation company, they shouldn't turn it over to a collection company. Paying even the smallest amount keeps the account current/open. However, in the off-chance they do send it to a collection company, you can obtain a receipt from your consolidation company showing that you've been making payments, and there was an agreement of $35/week for 2 years (or whatever the breakdown is).

Regards-
Mike

Should I forward that to the collection company then?

msmishele30

An account will be sent to a collection agency only if the creditor is not able to recover money from the consumers. By chance, if the collection agency calls you for the same account, you need to place a debt validation request to them. They will have to show the details of your account obtained from your creditor. You can talk with your lender about the situation faced with this collection agency. Either, they will contact the collection agency and settle this matter forever or the collection agency will be further entitled to get the payments from you. Keep your receipts of the payments made in safe place so that it can be shown as a valid proof.

Regards
Roxette

Now it makes more sense. Once they've accepted payment through my debt consolidation company, then everything should work out. I understand it might take time for calls to stop to make sure that I'm committed to the program.

It might take a couple of months for the creditors to realize that you are committed towards the program. During this time, you can always inform them about your actions and express your concern to pay off the debt. I hope they will stop making calls before time.