Collection companies
Date: Thu, 04/15/2010 - 19:06
We are going through the settlement process and making good headway, however we get letters in the mail from companies saying that they have been hired or requested to collect the debt for XYZ company. To me this is different than selling the account to a collection agency. Am I off in this or what?
FYI so far we have settled five cards and are finished paying four of them, our best one yet was US Bank for 20.69% on a 11,500 card. woohoo :)
FYI so far we have settled five cards and are finished paying four of them, our best one yet was US Bank for 20.69% on a 11,500 card. woohoo :)
Just let your settlement company know about the new development.
Just let your settlement company know about the new development. They would be able to take care of it. You may also given the contact details of the settlement company to the collection agency.
The collection agency should stop contacting you when they have the contact details of the settlement firm.
Quote:Originally Posted by SCJust let your settlement company kn
Quote:
Originally Posted by SC Just let your settlement company know about the new development. They would be able to take care of it. You may also given the contact details of the settlement company to the collection agency. The collection agency should stop contacting you when they have the contact details of the settlement firm. |
We are doing this ourselves, no company involved, we were not up to paying out money for something we can do ourselves. I am more asking is there is a difference in the credit card company requesting an agency to collect for them and the account being sold to a collection company.
Some creditors choose to "assign" their bad debts to a collectio
Some creditors choose to "assign" their bad debts to a collection agency vs selling them. From your standpoint, there is no difference.
how did you handle US Bank? did it have to go to their pre legal
how did you handle US Bank? did it have to go to their pre legal department?