Collections agency misinformation?
Date: Mon, 08/22/2005 - 12:11
Collections agency misinformation?
Hello,
My collections agency has told me today that American Express is no longer accepting payment plans on accounts in collections, and that current plans can only last another 60 days, then the amount must increase by 30% of the previous plan payment. However, two calls to Amex customer service and collections departments revealed that no one there has any knowledge of this policy, and my collection agency refuses to give me anything in writing, citing that it is 'an internal issue.' In the past 14 months I have not missed a single payment on the account, beginning with $50/month and for the past 4 months $250/month. This sounds very fishy to me. Any ideas? Thank you!
My collections agency has told me today that American Express is no longer accepting payment plans on accounts in collections, and that current plans can only last another 60 days, then the amount must increase by 30% of the previous plan payment. However, two calls to Amex customer service and collections departments revealed that no one there has any knowledge of this policy, and my collection agency refuses to give me anything in writing, citing that it is 'an internal issue.' In the past 14 months I have not missed a single payment on the account, beginning with $50/month and for the past 4 months $250/month. This sounds very fishy to me. Any ideas? Thank you!
Hi Matt B Welcome to the forums. I understand that you have n
Hi Matt B
Welcome to the forums. I understand that you have not missed any payment in your account since the last 14 months with your creditors and the collection agency is forcing you in between to make payment arrangements with them.
In this situation, you should write a letter through certified mail requesting the collection agency to send you the following information:
- The details of the account.
- All the calculation should be shown of the amount that is owed.
- Any copies of the papers to be furnished that shows the payment agreement.
- Provide a verification or copy of any judgment if applicable
- The original creditor needs to be identified.
- The Statute of Limitation needs to be proven for the collection of the debt.
- The license of the collection agency applicable in the state is to be furnished along with the license numbers and Registered Agent
- Proof of the agreement that the debt collector has purchased the debt or has been hired by the creditor to collect the debt from the debtor as this is the basic contract law.
- Complete payment history showing the details of the creditors, payment history, amount of the debt, break up of fees/interest should be provided in paper.
- A copy of the original signed loan agreement between the debtor and the original creditor establishing the debt between both the parties also has to be produced.
If they can provide you the following information in writing, then you can consider this involvement to be valid and make payment arrangement with them. Otherwise, you can take the help of your attorney.
Regards
Roxette
