Payment plan with CA

Date: Sun, 07/17/2005 - 00:22

Submitted by anonymous
on Sun, 07/17/2005 - 00:22

Posts: 202330 Credits: [Donate]

Total Replies: 2

I spoke with a collector the other day regarding a VISA card that I know to be mine. We talked about various payment plans as I am unemployed, and have very little income coming in. We settled on a $50 monthly payment (which I'm not objecting to, $50 is fair and I can afford it). I was wondering how big a mistake I made by authorizing them to transfer the funds electronically from my bank account for 6 months? I don't know if I should put a stop on the payment or what. She told me that the would withdraw every month from 8/20-1/20 and would send me a statement every month about a week before they withdraw. I'm just worrying that I made a mistake allowing them to electronically transfer funds.

Hi lks901 Welcome to the forums. Authorizing any one to co

Hi lks901

Welcome to the forums.

Authorizing any one to collect funds from bank account may lead you to a great danger. You may be the victim of identity theft. Please put a stop order so that no more fund from your bank account gets transferred. In addition please send a copy of stop order to the bank as well as to the collection agency. Stick to the payment plan you have entered into with the collection agency. Further verify your bank statement and your credit report regularly so that you do suffer from identity theft.

Hope to hear from you soon

Regards
Peter

lrhall41

Submitted by peter on Mon, 07/18/2005 - 02:04

( Posts: 285 | Credits: )

Hi lks901 Welcome to the forums. Being in the safe side, plea

Hi lks901

Welcome to the forums. Being in the safe side, please stop your electronic payments to your collection agency through the bank. The collection agencies are also involved in the act of transferring larger amounts than the amount of the said debt. So, putting a stop to this payment mode will definitely be beneficial to you in the long run.

Also, if you suspect anything relating to your entries in your credit report, you should activate a fraud alert by contacting the bureau. This alert will be active for 90 days and you will be saved from the risk of identity theft.

You should contact your debt collector and convince him for a payment through money order. This will be much safer and reliable for your efforts made towards your payments.

Please let us know if you have further queries regarding it.

Regards
Roxette

lrhall41

Submitted by roxette on Mon, 07/18/2005 - 11:09

( Posts: 4009 | Credits: )