BofA recalled my collections account from OSI

Why don't you call the bank 1-800-432-1000 and find out what this means, they probably would be able to answer your question

Sometimes Bank and Credit companies will send your account to a collection agency to collect funds. They will ask you to make payment arrangements outside of your normal payments. For example if your monthly payments are $50, the agency will asking for $150 to get your account current. Once that is done, they will turn you back over to the orginal lender

I have a Bank of America account (2550 original past due balance) that went into collections after 7 months or so. The new balance is 4000, it was sent to OSI collections, I made payment arrangement with them for 152 for 6 months then a settlement of 2000. Now after 2 payments I get a letter in the mail stating OSI will no longer be taking my money and Bank of America Recalled the account. What does this mean when BofA Recalls my account.

Because OSI doesn't own this account. B of A does. We are hired by B of A, to set up a way to pay off the account, according to their guidelines. However, at any time, they can disagree with the arrangement we've set up, even if it's in accordance with their guidelines, recall the account, put a crap load of fines/fees on it, and send it back into collections, again. I'm sorry this happened to you, phillipguru, but hopefully, this will be a lesson to all the people on this site, that have this delusion that they can huff and puff, and say to a debt collector, "I'll give you $50.00 a month, and you have to take it!" Sure, we'll take it. Then we'll see you again, when our client recalls your debt, puts a ton of charges on it, sends it back to us, and then you have to pay double what you owed before. Do yourself a favor, and pay off the full amount, and you won't have to worry about it anymore, or any of the shoddy advice you see from people trying to run from their responsibilities, on here.

Mr. OSI you are so full of crap. When I had my credit problems years back not once did I end up paying the full amount owed, I was able to negotiate a settlement. Its called a compromise with creditor and it happens all the time with personal and business contracts. I was always able to make payment arrangements and never once had a creditor recall the account.

So please take your BS somewhere else