Phillips and Cohen
Date: Mon, 02/16/2009 - 15:17
Anybody have any suggestions on working with Phillips and Cohen? Advanta turned me over to them as a last resort it seems. I have not actually talked to them yet. I was hoping to get some advise from anybody that has dealt with them.
My take is that they are probably not going to offer any kind of settlement worth taking. It seems Advanta sends you to them once you hit about 120 days past due. My guess is that they will harass me for a month or two and try to scare me into paying. When that isn't successful, they will kick it back to Advanta for a final collection attempt before it either gets written off as bad debt or goes to legal. I have just over $8,000 outstanding with them, so my guess is that it could quite possible go to legal.
Any thoughts on the best approach to handling them would be appreciated.
Thanks
My take is that they are probably not going to offer any kind of settlement worth taking. It seems Advanta sends you to them once you hit about 120 days past due. My guess is that they will harass me for a month or two and try to scare me into paying. When that isn't successful, they will kick it back to Advanta for a final collection attempt before it either gets written off as bad debt or goes to legal. I have just over $8,000 outstanding with them, so my guess is that it could quite possible go to legal.
Any thoughts on the best approach to handling them would be appreciated.
Thanks
