Is it wise to agree to a settlement on an unpaid credit card balance with a collection agency? - consumer advisor
In recent weeks, I have proposed, called to make an agreement on some of my outstanding balances of credit cards with some collection agencies have my house often. I personally think it's a good decision because it could affect my credit history with the three credit bureaus. As we all know, debt collection agencies for consumers connected to the death is known when it comes to raising money for loans comes from accounts previously charged, and the creditors. I understand that loan officers across the country recommend not to repair a consumer to "a creditor may neither A nor a collection agency. I prefer to hear the music and pay the remainder in the register, or push comes to shove, you can consider debt consolidation. Please indicate what would be the best option for further progress.
Wednesday, January 20, 2010
Consumer Advisor Is It Wise To Agree To A Settlement On An Unpaid Credit Card Balance With A Collection Agency?
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3 comments:
Well, if the collection agency is legitimate, and they have taken on debt collection, then it may be doing a good thing.
Suppose you owe $ 10,000. If the credit card company to leave "the collection of you who often sell the debt to a collection agency for much less - about 3,000 U.S. dollars. So, if the collection agency you can in the amount of $ 5000, everyone wins.
Be careful with hard practices used by collection agencies, however. It must be fair and courteous treatment, and should offer a payment plan.
I agree with geek
I wanted to add a few things.
If you pay in full or pay a sum to be paid, if not demand the abolition of the date of payment - the entries in your credit report, your score will be reduced, because the account is updated to reflect the payment and to it was "look" as an account that is what actually is.
Full payment or not paying a fixed amount of guarantee they do not sell accounts for payment (known to have been selling entirely on accounts from other collectors) are paid
Never make a verbal agreement with a collector.
Do everything in writing.
Never sign your signature on his letters, print only your initials or write your name
Always send mail back a receipt.
You should always apply for validation before you start talking about the compensation - including that you are sure you have the right to recover the debt (if the sensors are known to try to pay off the debts not used do not collect or will)
After appropriate validationIf you send a letter with the request, which is paid less than "full payment".
If you are trying to collect an illegal agreement to continue, or sell the remaining amount.
You should ask yourself, on the account, reporting on your credit reports at the time of deleting the payment.
You need to sign an agreement that these two elements, prior to payment.
I know from experiance, if you are on your credit report as "is accused does not appear." Yes, it is paid, but anyone can see that the research does not yet settled and paid the full amount. Good luck
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