I looked at my credit report and noticed i had $650 in collections from a storage unit back in 2003.
I had automatic payment set up off my check card. When it expired it was too late the units contents were auctioned off back in 2003. It didn't show up till 4 years later. I called the agency and they explained it to me and they were cool about it. I assume the business got sold and the new owners went through the records and are trying to settle thing up.
What are my options for paying them back? Can i negotiate a lower pay off amount?
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.