hi! the best way to send the money would be through a money order through the mail. It is the safest way in which you won't have to worry about unauthorized charges. You can also save the receipts for your records.

nay!! get it in writing first! a settlement doesnt mean anything unless you have written proof of it as a backup plan! save your canceled check afterward.

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that's very true wulf! another thing guest: make sure that they send u a letter back with the settlement before sending payment. ;)

Thanks for the information, Should I call them and request a letter (or my letter signed) or should I wait until they reply?

In simplest terms, this is what you want, and why:

1 - A written agreement.

2 - On their company letterhead.

3 - Terms of the agreement spelled out in language you can understand.

4 - Assurance that they will not sell/transfer/assign any remaining balance to any other entity.

5 - Signed, in ink, by a company official with authority to make such agreements.


If you don't have these five things, then you don't have anything. Why are these five items important? Here's why:


1 - If it's not in writing, it doesn't exist, as far as the courts will be able to see. Agreements by verbal means, mental telepathy, or whatever can be quickly disavowed by the CA in front of the judge. Who's to say any different?

2 - On their company letterhead, not a piece of indeterminate printer paper or a cocktail napkin. This is basic business etiquette. It also gives the paper more credibility in the eyes of the court, and keeps the unscrupulous colector from claiming that you faked it up.

3 - Why on earth would you agree to something that you don't understand fully? When in doubt, you can always take it to an attorney to be read/interpreted, but that's an expense you might not need to bear. If this is an agreement for a settlement in full, then the agreement needs to say so, in just those words. This isn't a government contract, there's no need for it to be chock-full of three-dollar words and double-speak.

4 - Assurance that they will not sell/transfer/assign any remaining balance to any other entity. If you don't get this, then you will see this account again from another agency. They'll sell that account with it's remaining balance so quick it'll make your eyes water, just to squeeze a little more profit out of it.

5 - This one's obvious, right? You want to be able to point to a specific person within the collection agency as the one who wrote the agreement. No signature, no deal.


Now, right about now, you might be wondering 'Who is this Wulf person, anyway? He certainly seems like a nasty, suspicious old dude. And why is he so hung-up on courts and judges, anyway?'

And you'd be right. I'm not an attorney or anything, far from it. But I've been around here for quite some while. I've seen each and every one of the bad things I'm warning you of here happen to other people in this community. I've even had a couple of them happen to me. And as to courts and judges, better safe than sorry. Get solid documentation up front, that will stand up in court. That way, should you find yourself in court on this down the road, you'll be covered.

Simple, yes?