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clarification

Date: Wed, 04/20/2005 - 21:43

Submitted by anonymous
on Wed, 04/20/2005 - 21:43

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Total Replies: 3

clarification


Am I understanding the information exchanged here~ that no matter if the debt has gone to a collection agency and they are the ones contacting me now, that i can still call the creditor and work out a settlement directly? At present I have returned the calles to several of the collection agencies that have called and written to me to inquire about their settlement offer, and some have made reasonable offers, and that they would send letters to discharge and close the account~ i need to understand fully just what happens when and if i send them the monies agreed to close out the account...also, should i really trust them~ i got a letter from one collection agency then another claiming to have acquired the debt from the first one, and the second agency made me a better offer~ i am confused, is it wise to have a 3rd party contact them or the credit card companies directly even after i have made contact and tried to work out a deal? to see if there can be a better offer made, i have a few cards that i would really like to just close out and have this debt settled...


I believe that you are able to work out a settlement with a collection agency. I also believe that you are able to do it by yourself. If you are having trouble accomplishing this, you should contact a third party like a lawyer or a credit counselor. Since you already received a few offers, you should inquire further to negotiate the best possible settlement.

Also, before you sign on to another agreement, make sure that you understand the terms of the settlement agreement. There are many settlement scams out there so it is in your best interest to be sure of the terms of the agreement.

Debt acquisition between companies is a common occurrence in the business industry. One company purchases your debt from another. It is called accounts receivable. It is mainly a business to business transaction and it does not affect anything on your part. It will just result in you paying your bills to a different company.


lrhall41

Submitted by benjaminz6 on Sat, 04/23/2005 - 16:57

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