Can make monthly payments; CA wants settlement
Date: Mon, 05/22/2006 - 13:55
I made arrangement with Washington Mutual in November 05 for six monthly payments. Previously, they had accepted payments at six month intervals. Contrary to Washington Mutual's letter, the CA states that I was sent a letter in Dec 05 (which I did not receive) outlining that they were the collector for record for the account.
Now the CA is calling (ironically after the last payment had recorded) - I verbally instructed them not to call me at work or on my cell phone.I am following the verbal directive with the cease calling letter via certified mail w/return receipt.
If I have been making payments up to this point, where do I stand if I just keep sending a monthly payment? Can the CA demand payment in full or their three monthly settlement (borrow from a relative, "after all they won't report you to the credit bureau" or don't make a car or mortgage payment for several months -- these creditors aren't likely to take any action for three deferred payments!"
Can I get the interest and any fees stopped?
Great site for those seeking guidance.
Hi ursusmaritimus If you are paying according to the arrangem
Hi ursusmaritimus
If you are paying according to the arrangement made with your creditors, there is no reason to deal with the collection agency. I guess the CA was contacted by Washington Mutual prior to this arrangement worked out with you. Or, the CA might be making a false collection. Your first move is to contact the original company and inform them about this collection agency. If they have hired them for the purpose, they will pull back the accounts from the CA. Under no circumstances, you are required to deal with the CA as you are paying directly to the creditor. The letter written on November 2005 is an important written proof of the arrangement worked out with you. Did you reply them in writing that you are accepting their proposal?
SIF's, settlements. These usualy need to be done within a certai
SIF's, settlements. These usualy need to be done within a certain time frame. Make sure that if you ever settle with an agency that you get the agreement sent to you in writting BEFORE your first pmt. This is key. These agencies rely on documentation and the saying goes.. if it isn't in writting it didn't happen.
If your cell phone is used as your home number and the only means they have for verbal contact they can still contact you that way unless you mail in to them via cert mail (be sure you keep a copy) to CEASE all verbal contact.
If WUMU contracted this agency to recover the debt be it SIF or BIF (balance in full) then they will continue to contact you reguardless if you are sending payments to their client.
CA's will stop calling whan they have what they call a BPA (best possible arrangement) with checks on file (post dated checks through electronic means)
Make sure WUMU and the CA has a good address for you. Ask that they send out another first notification letter. Most places will do this though some don't because many use this as a stalling tatic. As long as their system has documented that one has been sent out some agencies might take a firm hand to get the letter sent out.
