How to pay a CA

Discussion in 'Credit Talk' started by johns, Aug 15, 2001.

  1. johns

    johns Member


    First off I will be calling several CA's to settle some items. I don't have time to fight or validate these old items. I need these items settled today.

    My question is if I get them to agree to delete to settle, or if not to just fax me a settled acct letter HOW should I pay them.

    Do I pay with a credit card. Do I send a cashier's check, Western Union or what?

    Again my goal at this point is not to fight or dispute I need the accounts settled, and have proof of the settlement or zero balance.

    Items are:

    1. Collection acct. $164
    2. Collection acct $338
    3. Charge off $2900

  2. bfllover

    bfllover Well-Known Member

    bump up for johns
  3. bfllover

    bfllover Well-Known Member

    Do you have enough cash to pay the 2900$ chargeoff.I am sure they will accept payment in any shape or form,but I would just ask them when it gets to that point in which payment form they would prefer to get it off your report the quickest,not a reg check since thaat would take sev days to clear.
  4. johns

    johns Member

    Yes we have enough cash, but at this point I would prefer to pay on a credit card. I was just wondering if you consider that a dangerous way to pay a collection agency.

  5. bfllover

    bfllover Well-Known Member

    Can someone with experience tell her the best verbage to use when she talks to each supervisor.Is short and sweet the best approach or what?And is there someone to talk to above the supervisor that you can request to talk to if she gets a neg response re deletion?Since this has to be done TODAY is the only recourse she has is to pay since it involves a mortgage offer in 2 days?
  6. godaddyo

    godaddyo Well-Known Member

    First of all, I would not pay them by personal check or credit card for that matter. Why do you have this urgency to pay off these debts immediatley? Are you buying a house? If this is as urgent as you let on, I would at least ask for something in my favor. For starters how about an offer to pay them today if they will except half of what you owe. Or better yet, how about a deletion in exchange for payment. Contrary to what they tell you, it can be done. IF you are going to do this anwyay, you might as well benifit somehow. It doesnt take any longer to ask.

    I wouldnt send them anything but a cashiers check or money order. Also, I would want the terms in writing and signed by an officer of there company...

    This of course is never the best way to go..

    It is alway dangerous to give someone access to your credit card info or your check routing numbers and where you bank. This is never a good idea....
  7. Hal

    Hal Well-Known Member

    If you are going to pay them, be annnoying, use change so they have to count it : )
  8. johns

    johns Member

    Hi All:

    Yes this involves a house purchase where
    the lender has specifically said these items need to be settled.

    Yes I would be starting at 25-50% of the amounts,
    and yes I would be asking for a deletion in
    writing or the settlement offer faxed in writing to me before I gave them any money.

    If they will only settle for the full amount, but give me a deletion what would the harm be in giving them a credit card.

    If I have a signed offer of, let's say half the amount,
    what would the harm be in giving them a credit card.

    If there is an agreement to only charge $1000 and they charge $3000 wouldn't that be credit card dispute and/or lawsuit time?

    If I had to I would send a cashiers check.

    I'm just looking for your advice and/or experiences with situations like this.

  9. Donna

    Donna Well-Known Member

    To echo what others have said, prior to paying anything, get the credit agency to agree to a settlement. Fax copies of the settlement back and forth until you reach an agreement. Make sure what you agree on is signed.

    Then, since you said using a creditcard to pay would be the most convenient, why not go through Western Union. They can arrange a quick collect and I'm sure the collection agency has experience receiving payment via this method. You'll have the confirmation number from Western Union as proof you paid and your creditcard company can also confirm the payment amount. Additionally, the collection agency will not see your card number so you won't have to worry about them having that info.

    Anyway, those are just my thoughts. Good luck.

  10. Crdt Dfnse

    Crdt Dfnse Well-Known Member

    Foremost DONâ??T commit to any â??offersâ? in writing you initiate and (for Peteâ??s sake â?? whomever â??heâ? is), donâ??t let on that youâ??re wanting to secure a mortgage. Secondly, if at all possible, wait until a few days before the end of month. Collections is a results oriented numbers game, based on monthly tracks. If you wait until toward monthâ??s end, there is far more incentive for the agent to settle on terms that meet your financial resources.

    Last, but certainly not least, deal only with the collections manager if results arenâ??t coming about through a supervisor or if the super plays hardball. Iâ??d also strongly suggest not dealing (whatsoever) with a line-collector (the Grunt who generally makes collection calls), because they normally have little to no authority to make sizeable discount decisions.

    Payment in these situations is always best using Western Union QuickCollect® because QC drafts, printed at the collectorâ??s office, are as good as cash (to the agent). Yet if a deal is struck, ask how theyâ??d prefer to get paid to lessen any confusion of terms and lock the deal in that much tighter.
  11. cable666

    cable666 Well-Known Member

    Pay with a Postal Money Order.
  12. Andrew

    Andrew Well-Known Member

    Pay with a letter bomb.
  13. godaddyo

    godaddyo Well-Known Member

  14. Crdt Dfnse

    Crdt Dfnse Well-Known Member

    Until a consumer knows with whom theyâ??re dealing with, a reputable collector or scumbag? Itâ??s never a good idea to commit anything to writing, yes (in part) due to reset of SOL. While many on this board have used letters specifying something like, â??although this debt isnâ??t mineâ?? language; doing so doesnâ??t cut much effective mustard. If no deal is struck a presumption could exist that the debt has been acknowledged, even though words on paper deny it.

    This is where many folks commit a huge mistake, making written offers without knowing what the agent requires. Itâ??s similar to the misconception that an acquisition creditor (one who buys debt) pays â??pennies on the dollar,â? which isnâ??t always the case.

    If I buy a $1,000 debt, for example, that breaks down to a unit cost of $500 dollars? Why would I want to settle for half and leave myself no profit at all? Of course offering the right terms entails lots of factors, ones that should almost always be proposed/negotiated verbally. The best time to commit to writing, barring a strict confidentiality agreement, is when all (or the majority of) terms are agreed upon.
  15. godaddyo

    godaddyo Well-Known Member

    I think that it is kind of funny how this stuff works. When I was trying to rehabilatate my credit, I had some clown (collections manager for a creditor) tell me that he was going to re-age the debt on my credit reports. He even told me that he would just sell it to another collection agency if the 7 reporting rule passed and I didnt pay up. He was obviousily ignorant in the law, but I think what he really meant is that he would re-age the SOL. He was also hoping that I would't know better.

    In retrospect, I believe that his idea was that I had some how admitted to the debt, mostly because I had inquired about the procedures that his company used in such matters. The funniest part is that he gave me all this information and never asked once who I was. Well, needless to say the reporting rule with the CRA was fulflilled and the item was deleted. I never heard a peep out of "MISTER know it all", but I think that is definatley one of those people that left a bad taste in my mouth.

    So if I seem too hard on the collection industry, these people are those who gave me my first impression. Why lie, if you can't prove that someone owes the debt or you don't want to litigate, why break the law and lie. This happens too much in the collections business and I could go on and on and on with stories.
  16. Crdt Dfnse

    Crdt Dfnse Well-Known Member

    I donâ??t think youâ??ve recently been â?too hardâ? on the collections business, per se. No more so than most folks whoâ??ve had some poor experiences. It may help you to understand, however, that some in the collections field find the perception of losing difficult to accept. For exampleâ?¦

    Back in my days as collections manager, I had a supervisor come to me with a legal threat by a well-informed consumer. Seems a line-collector was playing a stall game with the borrower, over a measly fifty bucks. Her excuse was that â??she wasnâ??t going to let the borrower get her way.â?? (Perhaps it was a â??chickâ? thing? No disrespect intended, ladies.)

    Feature we were fifty lousy dollars away from closing a set (the deal), and resolving relative issues. All the collector had to do was back down, just a little, as the fifty was insignificant in comparison to potential defense costs juxtaposed to profit. I ended up resolving the matter by ordering the super to accept the customerâ??s offer.

    The concept that escapes far too many collectors, especially those working for agencies, is that more bees are attracted with honey than vinegar. One doesnâ??t have to be overtly aggressive, to be an aggressive collector. Hay donâ??t get me wrong, Iâ??ve slammed by share of consumers. Although not until they were given every opportunity to perform, based on reasonable terms without a fuss.
  17. godaddyo

    godaddyo Well-Known Member

    Good insight. When I was in highschool, I took a job as a telemarketer. IT was a very humbling experience indeed. As a young ambitious teenager, I had nothing but $ signs in my eyes. It was very tempting to lead the consumer on with whatever I thought might sell them on the product. Of course, I had every rebuttal memorized to run smoothly off my lips. I bet that I aggravated a lot of people, but I was blinded by the money. To this day I love to make money, but I try to do it with as much dignity as possible. I grew tired of the Telemarketing business and realized that being a cold call solicitor was not for me. Hopefully, as the credit industry evolves, the collection industry and the credit repair industry will both hold higher standards. The collection industry has been around forever, but the credit repair industry is still in its infancy in comparision.

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