Redline !?!?! please help ASAP

Hello Jsing,

yes, several bad things can happen. Number one for anyone else reading this, never give a debt collector access to your checking account. Number two, don't ever hand over any money until you have an agreement in writing. If you are going to attempt to negotiate debt on your own, these two rules should never be broken.

They can take out whatever they want to take out. You have no proof of the agreement that you made over the phone. They have documentation that you owe 4,000 dollars and that you gave them your checking account information. So one can conclude that you agree that you owe them the money or why would you give them access to your checking account?

If it was me, I would be at the bank when they open tomorrow. I would tell them that you do not want to authorize any charges from that company. The bank probably won't be able to stop it, however at least if you inform them ahead of time, you can likely get them to reverse the charge if need be. So just give the bank a heads up that you do not want this company to take money directly from your account.

Then you call the company and you ask them to put the agreement in writing and fax it over to you right away. If they refuse then tell them the deal is off and you are informing your bank not to allow any charges. (as a second precaution, you could drain all of the money out of the account so the charge doesn't go through in the first place), again make sure the bank is aware that you are disputing and that you don't have some kind of overdraft or that the bank will just pay it and draw your account negative.

I don't care how good you think a deal is, if it isn't in writing it isn't a deal. So you either get it faxed over in writing or take the deal away. They can take out whatever they want and it wouldn't even be worth it for you to take legal action to try and get it back because it isn't enough money. Plus you would more than likely lose the case anyway.

So go to your Dad's bank in the morning, get all the money out, inform the bank that you do not authorize any charges from that company. Then call the company and blame it on your dad. Say, that your dad is helping you by giving you the money and he refuses to give you any money until he sees something in writing. That way it is hard for the guy to argue with you over the phone.

Just say "look jack, it is my dads money and he wants to see the agreement before he will release any of it"

If they absolutely refuse to give it to you in writing it is because they never intended to honor the deal in the first place.

Good luck, let us know how it turns out.

Remember, that is a good settlement, so if they fax it over to you, then you will be ok. Hindsight is 20/20, but in the future never give guys like this access to any accounts. No good things happen when you do that. You can write them a check and mail it to them.

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i just wanted to say thanks. u guys were a great help. they did take the 150 agreed and still havent sent me the settlement agreement. we changed our banking account so they wont be able to withdraw anything else. i really appreciate it.

i'm glad.you should send a DV letter asap.send it certified mail return receipt.they never proved any legal right to the debt.once they get that letter they have to cease collections until they validate.since i'm guessing you never got anything in writing to begin with you can demand validation.

what is a DV letter? sorry im pretty new to this

DV=debt validation.hey no problem.we were all new here at some point.