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What Loan?????

Date: Thu, 04/29/2010 - 11:46
Submitted by on Thu, 04/29/2010 - 11:46
Posts: 202330
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I just received a call today from Ace Recovery regarding stop payments that I had my bank do for amounts of $75.00 and $50.00 taken out of my account which I did not know what said amounts were being drafted out of my account. They stated that over a $1,000.00 had accrued for this loan of $250.00, which I never new about until funds starting coming out of my account. However, the agent stated they would take a $300.00 payment for settlement today for said loan. They would not debit it from my banking account even though a bank representative would verify the funds and they would not accept a OFFICIAL CERTIFIED CHECK. It had to be either debit and/or credit card (which I do not have). I never signed or received any notifications regarding said $250.00. Ace said they had sent email, (which I have not received), but received one today from "recovery office". Don't you think that is sorta ironic? Please advise me. I do not want my credit to be affected. I have received nothing in writing or any type of acknowledgement (i.e. email, etc.).


Hof,
how do you recommend paying a debt that has been settled....BofA just asked us for our bank acount # and routing #....I refused, because I am not sure if I can even settled...this really shook me up.....any suggestions for how to pay to settle accounts...what method to use so that they can't come in and take your grocery money. I hope you don't mind me asking on this thread ...I am fairly new to this process and hope I am not showing my ignorance....LOL


Submitted by debtor in CA on Wed, 06/02/2010 - 14:50

debtor in CA

( Posts: 27 | Credits: )


No way would I give them access to my bank account, so you did the right thing! When I settled an account with BOA for a friend, we sent a cashier's check, and yes, definitely get it in writing first, especially with BOA, they tend to forget quickly. Tell them you need something in writing before you send any money.


Submitted by Shazzers on Wed, 06/02/2010 - 17:15

Shazzers

( Posts: 17344 | Credits: )


thanks Hof....I really appreciate all your posts. How difficult is it to get the credit card companies to settle debt? What I mean is : is it usual for them to try to sue you for the remainder of the debt or try to get more money from you in some other way? Do they generally keep their agreement to "settle" the debt? It sounds funny being that I am the one who messed up in the first place...actually hubby did....but doesn't matter now....



sorry hof....but I am so anxious about doing this myself, but already had a BK attorney and would like to fix this myself.


Quote:

Originally Posted by Shazzers
No way would I give them access to my bank account, so you did the right thing! When I settled an account with BOA for a friend, we sent a cashier's check, and yes, definitely get it in writing first, especially with BOA, they tend to forget quickly. Tell them you need something in writing before you send any money.


Submitted by on Wed, 06/02/2010 - 22:22

( Posts: 202330 | Credits: )