Do CA have to send you something on a regular basis?

Hi allogagan

There is no law that requires collection agencies to send the balance statement each month. But if you request them for it, some might be willing to help you.

It is my take that you must review the debt when the CA has made the first collection contact. Keep a record of all the payments done in the past. You will be able to tally it conveniently. When you do a payment, ensure that the company sends the money towards your account. Get a receipt of your payment done and document it in a file.

ok, thats understandable , but how they expect you to send in the payments by check (which most of mine perfer it seems) if they don't send you something with the address? send you someone once and expect you to hold on to that letter for the rest of the time you are paying it off and just use a normal envelop?
CA can be so confusing at times. But I guess thats how they make their money.

I also get surprised by the collection tactics. Most of them prefer to get paid by a check. This discloses your personal and bank to them. They want to take money as soon as you have your paycheck. If you are running short of money, they will take the amount so that you don't use it towards other bills.

Send your money through money gram, western union? Have you tried it out?

What is so special about western union? CA's love western union. Western Union even sends out a magazine to collectors to encourage recommendation of their services. (But at least with Money Gram or Western Union, no one could pretend they didn't get your money) No collector likes checks, they bounce. Thought I'd give y'all some inside info. Good Luck with the scammers, but seriously, if you truly owe it, why not pay?

Don't do western union or money grams. Your are just spending even more money to pay them and now a third party is getting richer. Send payments by money order cashiers check (I think Money gram also sells money orders through Wal-Mart, currency exchanges, etc. But your paying about fifty cents for the money order (still less than the $9.00+ charge to "wire" them the money. Money orders are also available at the post office for about seventy five cents or a dollar.

Go to the first letter you received, and get their phone number and address from that. Call or write them a letter or call them demanding the address to send payment to. If they will not give you an address, then inform them you have tried to address the matter, and that they are being uncooperative and as a result any arrangement is now void. If you do this with a phone call, then back it up with a letter cent CMRR , so you have documentation if they try to take a legal action against you.

Never give a Collection Agency or Attorney any Bank or credit card account numbers. If you send them a check or check by phone they can take the information off the check and debit your account later. By sending a money order or cashiers check, they cannot obtain any personal account information, keeping your information private. Money Orders or Cashiers checks are cheaper that using western union or money gram to write Money , and don't require you to reveal account information. A nominal charge I feel is more like a security fee than anything else.

About Western Union or Money Gram. I would suggest doing those only under two circumstances. One, if it is a precharge off credit card. You want your payment to hit before you are charged another late/intrest fee. And the second would be if it is the last day on a settlement offer.

How can I make sure that the money that I am paying to the CA is being credited to my account? Should I call the original creditor and ask? I was told that it is too much paperwork, by several CA, to send monthly statements. Also, should I call the original creditors and close all of my accounts (I think they are anyway). By doing this it would avoid anymore late fees and interest, right?

jcrab1

You must get a 'paid in full' letter by the CA after the account is paid off. Moreover, you can call the agency and keep a follow up. Some CAs do send monthly statements if you put a request.

The reason collectors want checks is to "secure" the balance. They now will have a promise from you on file for a certain date for an agreed upon amount of money.

If you get a nice collector they can propably send you a letter with the remaining balance on it after your payments. I do it for some of my people.

Never send a collector a post dated check. It can lead to more problems. Only send them a money order or cashiers check. Like FYI stated, if you get a good collector, they will send you a monthly statement showing balance remaining.

If they don't want to send you a statement, call and harass the heck out of them. I call one collector about once per week..Up to 3 times a week if I'm feeling feisty. I have him tell me the balance every time, and how much I'm scheduled to pay next. I verify EVERY question I have over and over again. He refuses to send me a statement, so I'll make my own. :)

I have an account with ASG and they've actually been very good to me. I have post-dated checks set up with them and they have never deposited them before they are supposed to and they also send me a statement every month with my balance listed. I guess I've been lucky with this one!!

In my experience, for some credit cards I have paid off through CA's, they first sent me validation letters which included these little "Paystubs" on each letter, which I would detach and send in with my payments (always by money order) and when they were paid off, they would send me notice that they were paid off. I kept track by noting how many of the "paystubs" I had sent. Two that I have paid this way offered me 3 payments of equal amounts.

I haven't been lucky enough to get the good collection agencies. All I get is the junk debt buyers that break the laws. I guess there is a sign that says all junk debt buyers harass and do whatever you have to in order to collect from these people.

As I have posted before, I have been lucky in dealing with collection agencies (except OXFORD is stupid)--a few of mine, send me statements every month. I wish they all had to. Oxford has been taking my money for months now and I wish I had something from them showing that my money is being applied. all they know how to do is make annoying phone calls ALL-DAY-LONG. But they can't do one thing you ask them to. For starters---NOT TO CALL ME! I really don't like them.

Send them a cease communications letter limiting their communications with you to postal service. Send it certified mail, return receipt requested. They have to stop calling you. Also, you can request to place your payments on principal if you wish. They must abide.

CA's are under no obligation to send a monthly statement...they are not a billing service. Considering that usually the balance is due in full sending a monthly billing is actually counter productive from their viewpoint.

Western Union is pushed by most collection agencies because Western Union pays perks to agencies for spiffs or contests. We frequently got cash or prizes for receiving Quick Collects. One month I did over 100 Quick Collects and I got a $500 gift card to Best Buy. It is a tool....however now I do not recommend them unless you are trying to meet a settlement deadline. You are better off having that extra $10 applied to your account.

On postdated checks. The use of PDC's is covered by the fdcpa. ???? 808. Unfair practices [15 USC 1692f]

A debt collector may not use unfair or unconscionable means to collect or attempt to collect any debt. Without limiting the general application of the foregoing, the following conduct is a violation of this section:

2) The acceptance by a debt collector from any person of a check or other payment instrument postdated by more than five days unless such person is notified in writing of the debt collector's intent to deposit such check or instrument not more than ten nor less than three business days prior to such deposit.

(3) The solicitation by a debt collector of any postdated check or other postdated payment instrument for the purpose of threatening or instituting criminal prosecution.

(4) Depositing or threatening to deposit any postdated check or other postdated payment instrument prior to the date on such check or instrument.

Depositing a check or so called cleaning out your bank account is a huge violation of the FDCPA. With reputable agencies and especially with student loans, PDC's are advisable.