What can I do when I settled with a collection agency (Sent a letter stating this is a settlement in this account, they cashed the check) and the parent company (original credit) says you owe the remaining in full or collections will restart? I drafted a letter stating this was a settlement, paying this account in full/ settled. I'm almost ready to send cease communication to the parent company (AT&T) and any creditors forthcoming. Thanks, Any help would be appreciated. Russ
Russ Unfortunately you are in a very difficult situation here. Did the collection agency agree in writing to your settlement? Never deal with collection agencies, always deal directly with the original creditor. Regards, JP Russ wrote: ------------------------------- What can I do when I settled with a collection agency (Sent a letter stating this is a settlement in this account, they cashed the check) and the parent company (original credit) says you owe the remaining in full or collections will restart? I drafted a letter stating this was a settlement, paying this account in full/ settled. I'm almost ready to send cease communication to the parent company (AT&T) and any creditors forthcoming. Thanks, Any help would be appreciated. Russ
You can settle with the creditor or the collection agency. In either case you should get something in writing on their letterhead prior to your making payment. If you settle verbally on phone, always, always, follow up with a letter confirming agreement and requesting a letter agreeing on their letterhead.
It's not always possible to settle with the original creditor as they may have given up ownership of the debt by selling it to the collection agency. You need to identify who owns the bill first, then negotiate from there.
I have one account listed 3 separate times on my credit report. The original account was charged off. It was sold to a collection agency. Then sold to another collection agency. I'm trying to settle the debt. Also, the last agency has an inquiry listed. Is this legal? I read that this is an attempt by collection agencies to destroy your credit. Where should I begin? (The original and second creditors say they can't work with me)
