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Anyone dealt with a collection agency before??


Blane
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I got the letter I've been dreading today. I've owed visa 1000 bucks since early '99 and finally they've put me in collections.

Right now I owe just over 1200 from the interest. The guy I spoke to said they'd settle for 1000, which was his offer right off the bat. Personally, that doesn't seem to bad, but I was wondering if I might get a lower amount if I play hardball with them. Of course I don't have too much bargaining power, but I don't have much money either.

Anyone ever been through this?

Thanks.

Blane

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Blane,

A low interest loan would be ok, if you had a good credit rating....

Your file will be passed from agency to agency in hopes that you pay them. If they are giving you the option to pay it off without the accrued interest, it would be in your best interest to pay it off.

If you really wanted to do it properly you should get a hold of the credit card company and arrage something with them so that the banks at least legitimately know that you are trying to help yourself.

Take it from me, don't screw your credit rating up if you don't have to. It makes getting tix for the next tour easier!

Mark

P.S. Next time you do get a credit card I suggest that you stop ordering underage animal porn with it. smile.gif" border="0

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agreed pay it. if someone is collecting from you and is a no body ( like rogers video saying i owe them 100 dollars) tell them to screw off. they sent the thing to collections, and found out four other video stores have done the same thing for me. So they think they're gonna be cool and add it all together. Making it just under 500 dollars! I told the collection agency to go to hell, no way was i paying a sent. As they have all the video's, just w/ accured late fees. Anyways, i told the credit company that i have currently three credit cards (which i do) and that they couldn't affect my credit rating. Well they tried to play hard ball, realized they were shit. then offered to settle at 200 dollars, still told them to go to hell. That was just under a year ago.

Haven't heard from them since! Credit card companines dont fuck around though. But screw the movie stores.

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Two options.

Go to your local credit union and get a line of credit to pay the debt off.Most credit unions will give you a grand no problem.You may just have to open an account for 100 bucks.

I don't know about you,but I receive applications from credit card companies weekly for cards to consolidate debt from other card companies.

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hey

I ran into a problem dealing with this cell phone co. and they sent me to the collection agency I basically didn't own any money but the phone co. fucked up... but what I did find out is that even though the credit card co. sent your account to the collection agency, you don't actually have to pay the collection agency if you pay the credit card company..... this really pisses off the collection agency (thats always fun). I also started calling the collection agency 20x a day to ask useless questions ( I also passed the number and ext. of the jerk who was hounding me to 10 of my friends who inturn each called 10 plus x a day as well / payback for calling me work )....

well I guess none of these tactics will help lower your bill but it always fun to harass the harasser...

good luck

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i am dying sick today, so forgive me for not reading the other posts - but a friend of mine got her bill significantly reduced by paying the collection agency like $20 a month - when the agency brought her to court cuz they didnt think she was paying fast enough - the judge said that she was paying regularly and they were just jerks and he reduced her debt by half.

so in general, as long as you pay regularly, there's nothing they can do and you dont' accrue more interest...

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back in my college daze i ran up a good sized balance on my sears charge card... bot some snow tires, all season tires for the subie, phone, and kitchen stuff, etc etc. owed em about a grand or so.

didn't pay much of it, and blew off their requests for about 4 years. the collection agency settled with me in 1997 for $350. i had owed more than $1600 when interest was taken into account.

so i would say bargain them down. if it is your only delinquent account it lowers your credit by less than 50 points on fair isaac.

guy who works next to me, his wife is a senior mgr at f.i. she gave me the lowdown on how it affects your score.

offer $500 to start.

good luck and tell us how you do

chris

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You can totally take your time to figure out your options. I mean, it's already gone to the collection agency.

However, no matter what, don't let it mess with the credit bureau. I've only had headaches with them since my OSAP loan went into collection a 5 years back.

Thanks to a mixup with loan repayment, I was sitting with a horrible rating for a year and half without knowing it. I finally got that fixed.

Actually, the collection agency that bought my debt (weird business) was threatening me large. They threatened to send someone to take my stuff. I sort of laughed, because I had nothing for them to take. Then I found out that they can't do that, but what they can do is lie like fucks on the phone with scare tactics.

So in short, my advice, file for bankruptcy and tell them to go to hell!

The eight-ball has spoken!

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I had some VISA "issues" several years ago, and it has caused me some headaches ever since. I paid what I owed, but it was too late to save my credit rating, so now I'm in "credit rehab" for a million years, all because I slacked and let it go. It's not worth it. Best to pay it and just be broke for a while and put it behind you.

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Well, I just called the guy and said I'd give him $500 now and $500 at the end of the summer, or $750 straight away, and he took the $750. Now I've got to get the money together, but better than paying the full sum. Next question though, is how long will it be before my credit is clean? Probably a few years I guess.

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well,the web has been woven, the deal is sealed, the cheque's in the mail (not literally).

As of tomorrow my debt to Visa will no longer exist as of this time tomorrow. I guess that's the silver lining on teh story (and that I saved about 500 bucks).

Thanks for all the insight folks. I'm making sure this guy faxes the release forms immediately upon receiving payment so that I know there are no strings attached.

Now, back to our scheduled programming.

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hey Blane..take it from me..if U can pay something..pay...I've been in hiding over my OSAP now 4 ohhh..about 2 years...mabey give ayear...those collection folks DO NOT GIVE UP...allthough..ultimately I don't think they can realy do much...I'm going to take Bradm's advice on the rights/know/how..and if they haven't got anything from U..U gotta think they'll take whatever U offer...but this is coming from a girl who can't get a credit card because of her OSAP follies... shocked.gif" border="0shocked.gif" border="0

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