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Collection companies

Date: Thu, 04/15/2010 - 19:06

Submitted by anonymous
on Thu, 04/15/2010 - 19:06

Posts: 202330 Credits: [Donate]

Total Replies: 4


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 :)


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.


lrhall41

Submitted by SC on Fri, 04/16/2010 - 02:22

( Posts: 3937 | Credits: )


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.


lrhall41

Submitted by on Sun, 04/18/2010 - 09:01

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