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Machol & Johannes

Date: Tue, 03/15/2011 - 15:41

Submitted by kmopflo
on Tue, 03/15/2011 - 15:41

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Total Replies: 3


I have seen in previous posts in regards to my issues, but I haven't seen any responses. Basically, my fiance a settlement with Machol and Johannes that is to be paid in monthly installments. They do not send paper statements regarding his balance and when he calls to get it they alway fight with him over this telling him that they can not mail out a statement showing what payments have been recieved and the remaining balance. The payments can be verified by his bank statements as processed, but he never knows what his remaining balance is. The last time he called to get a balance the amount stated was clearly higher than what he should owe. I'm trying to help him out since he doesn't have a lot of time to sort it out with them during work. It all seems very suspicious. Should he file a complaint against them for not providing a statement or are they in their rights to do this?


If this is a collection agency and you entered into a settlement, you should have received a settlement letter offer before you started making payments. That letter would have stated what the settlement balance was. If you did not receive such a letter, you have no way of even proving that you have a settlement.

When I received my settlement letters, I knew what balance was being settled. I received no monthly statement from the collection agency. When I settled directly with the creditor, I received my normal statements but it showed the entire balance and not the settlement amount, so those statements are basically useless.

You need to look at your settlement letter, figure out what you paid so far and then determine what the balance is.


lrhall41

Submitted by aubrey on Tue, 03/15/2011 - 16:38

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unfortunately collection agencies are not required to send monthly statements. It sucks, but thats why you should always have a something that states the original balance you started paying on(original settlement or judgement paperwork) and keep all records of payments made, that way you have proof of every payment made.


lrhall41

Submitted by anonymous on Tue, 03/15/2011 - 19:12

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More than likely there is no settlement....a settlement by definition is a lump sum payment....not monthly payments. Some agencies will settle over 3-4 months but never much longer than that.

And Anon is correct....CA's are not required to send statements. You are not a custumer...dont expect customer service.


lrhall41

Submitted by SOAPLADY on Tue, 03/15/2011 - 19:36

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