Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

Something In Writing

Date: Thu, 05/25/2006 - 13:57

Submitted by joyster93
on Thu, 05/25/2006 - 13:57

Posts: 7 Credits: [Donate]

Total Replies: 5


When making payment arrangements with a collection agency, I asked the rep if I could get the agreed settlement in writing. She told me that they could not do that, and that after my balance was paid in full, that they would notify all three credit bureaus that the debt was paid in full. Isn't the collection agency supposed to give me something in writing since I requested it? I hear that agencies will agree to a settlement amount verbally, and then after the balance is paid, they turn around and try to get you for more, saying they had no such agreement.


This was taken from the website www.ftc.gov

If you go to this website it will tell you all about the FAIR DEBT COLLECTION rules
Quote:


WHAT MUST THE DEBT COLLECTOR TELL YOU ABOUT THE DEBT?
Within five days after you are first contacted, the collector must send you a written notice telling you the amount of money you owe; the name of the creditor to whom you owe the money; and what action to take if you believe you do not owe the money.


lrhall41

Submitted by yondela33 on Thu, 05/25/2006 - 14:05

( Posts: 3 | Credits: )


Settlement proposals should be put in writing first. It is a kind of contract and there must be records of it. There is no track of verbal agreement unless you have a recording of it. You can check the state laws before you decide to record this verbal agreement for legal use.

Try working out with the original creditor if you are not comfortable with this CA. If you are able to work out some payment arrangements, the original creditor will pull your account from the CA.


lrhall41

Submitted by Gretchin on Thu, 05/25/2006 - 14:11

( Posts: 482 | Credits: )


Sadly, I've paid two small debts off without getting anything in writing. They have both reported to the credit bureaus PAID IN FULL. This recent one, offices of Thomas K Bamford, says they can't send me anything in writing about the agreement. They sent me a letter, before I contacted them, telling me the amount of the debt, but that's it. Now that I'm settling for a less amount, I would like something in writing so they don't come after me again!


lrhall41

Submitted by joyster93 on Thu, 05/25/2006 - 14:39

( Posts: 7 | Credits: )