Worried Sick! Please Help, only have till 5PM!

Do not pay a thing!!!!!!

Yes it was against the law for her to talk to you about your sons debt. He can now sue them for this. First thing he needs to do is send a debt validation letter to them. The agreement is not in writing therefore it is worthless.

first off never give bank info without something in writing.next time they call let them know you or your son or his employer will not speak to them without something in writing.then file AG,and FTC complaints.again do not pay them a thing until you get something in writing.this sounds like many bottomfeeders we get on here.

Thank you both and I understand what to do.

I am so worried that the debt will get even worse if he doesn't pay or agree to pay today. He does owe the money, he has been months late. So he is at fault.

They are settling only today for $970.00.

After that they already have my son's bank account number and permission to withdraw every month $150, until the $1,400 is paid. Only he agreed over the phone. Does this not count? Won't the bank just draft it?

I will start drafting the letter right now. May I post it here without any sensitive information of course? Just to make sure I got it right.

Thank you!

I personally would not give them any $$$ until I got the agreement in writing. Collection agencies have been known to lie. If they are settling for $970 then why is he willing to have $150 a month drawn out of his account? Also, under the Electronic Funds Transfer Act, they cannot force you to pay by electronic transfer. I don't let anyone into my account anymore.

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The thing is, they will settle for $970 if he pays today. But if they have to take installments, they must collect the full amount, $1400, by paying $150 a month until paid off.

Thank you!

Thank you Paul. My last reply was to Aubrey.

I am so afraid to try dispute a debit that was authorized by my son as a fraud. They do say they have him recorded. How do I fight this? dear lord...

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NEVER give an account number to a collector! ALWAYS tell them to cease all communication by any means other than the USPS! Back that up with a cease communication letter! Do not believe anything they say about last chances! The harder you make it for them the lower your bill will go unless they give up completely! Read my article at http://tinyurl.com/debtcall for more help! There are more and more attorneys eager to take these cases to collect easy money from collectors that break the law. Check out www.naca.org to find one!

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First off, take a breath, relax and don't let these people frighten or bully you. Definately do not give them any information about you or your son's bank accounts. As stated above, your son should send them a debt validation letter. Do so via certified mail, return receipt requested. Don't pay them anything unless you get written verification of the debt. Don't be pressured into "pay now for a discount" offers. If the offer is legitimate they will provide it in writing and give you a reasonable amount of time to make the payment. If they call you again say this:

"Persuant to the provisions of the Fair Debt Collection Practices Act, I demand that you immediately cease calling us and communicate with us only in writing. Also, be advised that my son's employer does not permit contact of this nature at the workplace." Don't be afraid to say that. All these people are are voices on the telephone, they cannot hurt you in any way for exercising your rights. Once you tell them this, they are prohibited from calling you (you can also tell them not to contact you at all, but since you indicated that you want to clear this debt up, you may want to get letters from them to facilitate that) at home or at his work. Then include that language in the letter your son sends. The collection agency will have 30 days from the date they receive the debt validation letter to provide you written proof of the debt. If they fail to do so they cannot bother you any further. Once you have written proof of the debt, you can correspond with them to arrange for payment. Make payments via money orders so they don't get your checking account or debit card numbers. If they insist that you send payments via UPS or FedEx, this is a big red flag. Scammers will do this to avoid prosecution for mail fraud. Send payments via US mail only. As to working directly with Best Buy, it is certainly worth calling Best Buy to ask, but they will likely not do so now that its been sent to collection. If they do agree to accept payments from you, request that agreement in writing with the stipulation that they will call off the collection agency hounds.

Wow guys! I am feeling stronger already. You know my son is a kid, he bought all these "toys" when he was 20 or younger. He'd been trying to pay off until he just couldn't. He does have a job but $150 is way too much for him. He also goes to college.

I am just so sorry his credit score has been damaged so badly. Funny thing the lady at the CA told me his credit score was quite good for someone his age. Could this just me another way to make you pay before the score actually gets hit? (theoretically) It's probably already very poor.

I'll get my son to check it.

Just to add. I did not give them my account number. My 22 year old naive son did! He should go to the bank have his account changed tomorrow.

Thank you so much John and Paul and Aubrey and all that have replied.... :::::deep breath::::

(I haven't even eaten all day, these idiots! now I have a headache to boot)

Now that I read a little further down I also suggest - strongly - that your son contact his bank immediately and see if they will stop any ACH debits that these people may make. Explain to them that he believes he was scammed into providing his account information. In your letter to the CA (or if they call you again) tell them you are specifically revoking any authorization made to debit his account (he will probably have to do that, not you). If he can't stop the debit then once it comes out, he can go to the bank tomorrow or Monday and have it reversed, by filling out a form attesting that he never gave or revoked the ACH authorization, whichever situation is applicable. Just be sure to be truthful on the form, as it is a legal document.

Well, take a deep breath and get something to eat - have a cup of tea?

The laws were put in place to help us escape from these strong arm tactics. Use them to your advantage as we all have here. Last July I owed 7 payday loans and was in debt $30,000 on credit cards. Through the help of this board, my payday loans are gone (following advice here) and I've negotiated settlement on 2 credit cards so far. I can sleep at night and not worry about the phone calls.

Follow the advice given (don't let them intimidate you) and you'll feel the same way. If you have to, tell them you spoke to a lawyer who advised you to ask for validation.

Good luck and keep in touch. We'll be interested in knowing how you do.

OK, I understand.
They said they would charge the first $150 on the 30th of November but that they would put in the authorization today. He should also call his bank and try to stop anything from them.
As soon as my son gets home, maybe he should call them and say word by word what
John said. Whether they call back or not:

"Pursuant to the provisions of the Fair Debt Collection Practices Act, I demand that you immediately cease calling us and communicate with us only in writing. Also, be advised that my employer does not permit contact of this nature at the workplace. Also, I am revoking my authorization regarding ACH debits from you. Since they were extracted forcefully and under pressure. I will be mailing a Debt Validation Letter by USPS Certified Mail on Monday, Nov, 23 of 2009"

If they keep harrasing him or making offers, he should just reply:
"I will not communicate or agree to anything over the phone. I need you to send all offers through USPS Mail" over and over and over... right?

Then follow up with a letter by USPS Certified Mail, requesting a full disclosure of the debt and the settlement. Debt Validation Letter.

He/I are willing to pay off this debt, he does recognize his responsibility to pay. And he will, once settled appropriately.

Sound good?

i agree, never believe anyone without something in writing. even than i would not give out my account information.

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hmmmm should I add to that call something like... "I am also adding that disclosure of my information or debt by to my mother was not authorized by me, this is not a legal practice"

What if she hangs up before he finishes saying this?

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[QUOTE=Anonymous;497972]hmmmm should I add to that call something like... "I am also adding that disclosure of my information or debt by to my mother was not authorized by me, this is not a legal practice"
What if she hangs up before he finishes saying this?
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then it would be standard practice for a bottomfeeder,but yes mention that little nugget.

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He's on his way home. I've printed what he has to say.
He does work for Best Buy though, they really can't do anything at work, can they? I think their credit stuff is really done by someone else, right? right?

(here goes the rapid heart bead again) uggggggh

I've never had a Best Buy credit account, so I don't know who issues them, but most likely you are correct, it was probably someone like GE Consumer Credit or another bank. I doubt they would get him into any trouble at work for two reasons:

1. It would be really dumb of them to get him fired if they want him to pay the debt.

2. Disclosing this to his employer would be a HUGE violation of the FDCPA. Just like talking to you about it was.

Relaaaaaaaax!

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Ok... :::reeeeelaaaaaxiiiiinggggg::::: ::::deep breath:::: ahhhhhhh... nice...

He called them and just read what I posted a few posts ago. Her reply was that he had said she could talk to me about his debt, that is was recorded. My son said, "no mam, I specifically said not to discuss this with her" she said it was recorded and that anyway I had all the information already. I did not have this information! haha! She told me when I started to cry over the phone. She does have all this recorded!

She said the company did not take threats over the phone. (really?) I guess they are OK with threatening others themselves huh? That they do not do anything in writing, that we would have to. And we will.

She said she already had the check drafted from the bank and it was pending, even though my son authorized to have it drafted on the 30th.

He is transferring all his money ($300) :-( to my account, so they will only be able to collect $50 to begin with if they even try to. He already called the bank. They said he had the option to open another bank account there and transfer all his money or pay $15 every 6 months to stop the payment. Getting a new account sounds like a much better plan to me.

How can I thank you all! I have been blessed with an almost perfect credit score lately, but it wasn't always like this. This is such a nightmare!

I should still send that Debt Validation letter right? I will also have my son file a claim for her having given out all his debt information to me.

THANK YOU ALL!! You do such a wonderful community service here, you should be proud of yourselves!

I posted post 28 before reading unclewulf's posts.

I had my son read this letter already.
He couldn't go to the bank today, but he did transfer all his money. He will go there tomorrow to open a new account and cancel this one, with the correct reason for closing attached to it.

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I can only see up to post 18, am I doing something wrong? I knew there were at least 28 posts.

Thank you,

OK I see them again after I posted post 31!

I will, I will certainly pay it forward. They made me feel like the mother of a criminal. They made me feel pressured to no end to promise a check to them before 5PM.

They are evil and I might not be very savy in these dealings, but I am smart and a fast learner.
His credit is ruined, mine is excellent. They can't threaten us. I will fight this! Thanks to all of you I have the tools and the knowledge. If I must I will hire a lawyer no matter if that is more expensive than paying the debt.

I will also go checkout the payday loan forum. I need all the tools I can get!

Thank you all so much again! Thank you Uncle Wulf!!

OPS--

wow....just wow.....

First, be sure to send off that certified letter. As wulf said, thats massively important.

Second, your son needs to contact a NACA attorney and look into suing these people. I'm not kidding. They are trying to collect on a $1400 debt, and at the same time they are breaking the law in at least enough ways to lose $1000. Funny thing--many of these bottom-feeder debt collectors risk that $1000 hit for debts that are less than $1000...I have personally seen a debt collector rack up no less than 20 different FDCPA violations over an alleged $300 debt....

I was asked by Uncle Wulf a few posts back about where we lived and when my son last paid his debt. We both live in Texas, he still lives at home, he was gone for a few years but it's too expensive. He last paid in February. This information was provided by the IFP employee. Later by my son... interesting huh?

One other tidbit I am not sure I understand, it may or may not be important.

The call I got had the caller ID = IFP INC. When I called back to see who or what company this really was. First thing when they answered the phone was. "This is Mike" when I asked which company this was, the guy stuttered and finally spit out, "Integrate Financial Partners Corporation" which really is Integrity Financial Partners INC.

When I asked my son to call Best Buy and ask if they had really sold his debt and to which company, he said Best Buy said to "Sherman Financial" which is also the same name that appeared in his caller ID when he got the first call.

When I asked the employee Ms J at IFP INC why her company was not Sherman Financial since this is the name Best Buy had given us. She said that Sherman had tried to collect the debt for a few months but they were never able, so they hired IFP to do it.

Whether Sherman ever contacted my son, I don't know, he only knows.

But I wonder how much IFP actually paid for my son's original $1200.00 debt. Although I think his original purchases were a lot less than that. That is outrageous interest rates and late fees attached to them.

I wish companies first understood that by adding 10-20% every month to the balance just makes people either not be able to pay or just quit paying. If you can't, you can't. So they just loose out on getting anything at all.

Second I wish the law about not giving credit to anyone under 22 without a parent permission and especially without a secure job at that age be passed. I heard some talking about that but I am not sure.

It has been a lesson, for me and my son. He was threatened that they would involve his work place, scared him to death.
They were able to make me, ME! cry over the phone, they certainly are con artists, manipulative cretins, bottom of the swamp feeders.

I thank you all, he will be going to the bank this morning and to the post office to send the letter. We will also contant NACA for sure.
I still need to look for a template, although I think I understand what I need to ask for.

OPS

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Everyone in the forum was right. Don't let these knuckleheads bully you. The gist of it is that, more and more consumers are fighting these collection agencies back, and winning! Debt collectors will stoop to almost any means to get money out of you. They will threaten you with lawsuits, calling you at work, etc..., in order to get their hands in your pocketbook! They make a lot of threats because in reality, they DO NOT WANT TO GO TO COURT! why? because court proceedings take too much time, and they want to be paid ASAP, and because of this...once they get you on the phone, they will say absolutely anything to get you to agree to pay. Most also don't want to go to court because they don't always have the means of validating the debt, or they know that the debt is not within the SOL. (The debt is too old to collect on) Your son should speak to an attorney about filing a lawsuit against them. There is a good chance that he would more than likely win!!! The tide is turning in the direction of the consumer. Don't let them frighten and intimidate you. Use the NACA attorneys. They regularly file suits against collection agencies. Go also to Bud Hibbs website. The company that is giving your son problems may be listed there. Bud Hibbs forum is a good one for how to handle debt collectors as well as this one. Many people in the forum have dealt with debt collectors far too many times, and there is a lot of experience here. I have found that the debt validation letters also help to give the consumer the upper hand. Hang in there...you and your son will make out fine.

everyone here has posted great information! i just wanted to chime in and say just relax and avoid those calls if possible. if they start to harrass you, feel free to file a police report. i did and gave a copy to my employer when i was being harrassed at work.

I think this was awesome.
Where else can you go on the internet and get this kind of help and information so quickly when you are in a jam.

these posts telling someone NOT to pay the debt they owe. What a lesson to teach a 22 year old

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Our son when is was about 17 got a credit card and after a while of course mismanaged it.It got so far behind he could not pay and gave up. He is 23 almost 24 now and they the collection agencies have never put it to rest .He does not even live here anymore but they still call. I do beleive they are third party collectors. Every noiw and again we get settlements letters from them. We just ignore them. Since my hubby and our son have the same name they wiull not beleive he is not the person they are looking for and we do not disclose we even have a son.Once my hubby went to court and since the social security numbers for him and the( person) were different they had no alternative but to drop it. We still get these calls on our phone from out of state that our caller id says are unknown name unknown numbers when e don't answer we get a collection call. We are never sure if this is still the same case or we both have a small amount of medical bills we have never been able to pay, maybe it is that.My question is how do you stop calls from this when all it does is say call this number?Should we call this number and tell them to stop calling? We get these calls 0nce or twice a day.

to the poster above, you can mail a C & D letter telling them to stop calling completely.

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sky, i was thinking the same thing about the minor aspect of this but was unsure if it worked like that.. everyone here gave great advice.