Giving checking accuont number / post dated check

Date: Sat, 04/03/2010 - 06:48

Submitted by anonymous
on Sat, 04/03/2010 - 06:48

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Total Replies: 4

Hi, I need to settle the debt and the Collection Agency for citibank did not accept anything other than check over the phone for payment (4 payments). I gave them the Chase checking account number for the first check post dated on 15th of this month. Other than the risk that they won't send out the settlement papers and just apply the payment to the balance , can they just go into my Chase checking account and collect the money anytime? I have not been sued by them yet.

For starters, did you get the agreement in writing?

lrhall41

Submitted by SOAPLADY on Sat, 04/03/2010 - 07:13

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no...not yet

They insisted that I gave them the post dated check over the phone for the first payment before mailing out the settlement paper. I am waiting for it

lrhall41

Submitted by on Sat, 04/03/2010 - 07:42

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Just my opinion, but, I would never give a collection agency any

Just my opinion, but, I would never give a collection agency anything without an agreement in writing FIRST, even then, they would be paid via a money order so they wouldn't have access to my account number, but that's just me. :)

lrhall41

Submitted by Shazzers on Sat, 04/03/2010 - 08:32

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Always get the settlement in writing from a CA. I have not had

Always get the settlement in writing from a CA.

I have not had any problems with the original cc company. I paid and got the letter quickly.

IMHO...The best idea is to set up a debt checking account expressly used for the CA's.

Never ever give them your main checking account info....they'll put their straw into it and suck it dry!

lrhall41

Submitted by King Jabba Labba on Sat, 04/03/2010 - 20:25

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