Hey All, First post in this informative board and I am looking for some advice if you would be so kind. I have an old debt I have agreed to pay off with one of these bottom feeder collection/law offices. The debt is mine and I agree to that. I was contacted by phone only and have not received any letters pertaining to this debt. I agree to pay this but refuse to give these people my banking info. and I offer to pay by money order or bank cashiers check. They refuse so I agree to pay via Western Union. I have not done this yet but seems the best option. My question is, are these people required to send me a letter saying I owe this debt or do I send them a letter saying I will commit to paying it? I just want something saying it is paid in agreement to what we talked about. Any ideas on how to do this properly?
First of all, you shouldn't have agreed to make any payments until they proved three things. First, the debt is yours (don't be so quick to jump to conclusions. Could be a different account with a name similar to yours, and your account could still be floating around somewhere). Second, they need to show how they arrived at the amount they are saying you owe. You want to verify that any added charges are in accordance with your agreement and within the law. Third, you need to know that they have a legal right to collect the debt. Just because they say you owe them doesn't make it so. Suppose the debt was with them at one time but has now been sold. You don't owe them the money, you owe someone else. They are required to send you a notification in writing within five days of the first contact, if the first contact wasn't in writing. I would write to them, certified mail, return receipt, and tell them that you need proof that it's your debt, an accounting of how the balance was computed, and proof that they are legally entitled to collect the debt. I'm betting they don't have all of this information.
It is a legit debt from a past account that I had. Just coming from this company though I want to properly document that it will be paid as agreed to. Thanks for suggestions and will use them when I contact these people again
Is it a legitimate debt FOR THEM TO COLLECT? Remember, you're not paying the people to whom you incurred the debt. They have already gotten a few pennies on the dollar for it. They won't get any money that you pay to this collector. Because you owed it to someone doesn't mean you owe it to them. Also, how old is it and what is the SOL in your state? I'm not saying you shouldn't pay it, I'm saying you might not be obligated to. In my opinion, if I'm not obligated to pay someone, I have better uses for my money.
From what she said it is from April 2004. I read online the SOL in Georgia(where I live) is 4 years on "open end accounts". They are threatening a lawsuit if not paid soon. But the account goes back about a year or two before I defaulted on it due to unemployment at the time. It has gone from $1500 to $2900. So now I'm not sure if I need pay it or let it be.
When did it first go delinquent and never got current? Don't go by what a she told you. Do you have some records? If you stopped paying before April 2004, you may already be out of SOL. If not, you're close. They may be threatening a lawsuit, but they may not follow through on the threat (which is a violation itself). The problem is that I don't know if a promise to pay resets the SOL in GA. You need to find that out. If it does, you've now extended the SOL for another four years by promising to pay.
Nothing is in writing as of right now so would that extend the SOL because it is verbal and not written? Not really sure.
Simple answer to all of this is to dispute the validity of the underlying debt and to dispute the amount allegedly owed. This is what Hedwig was aptly telling you. On the money advice per the usual. In any event, send them a written request for validation as to it in it's entirety and as to the amount claimed owed. If this is made within 30 days of their initially communication, they can't take any further activity until providing you validation. Moreover, I would review my credit reports and dispute the accuracy and completeness of anything this debt purchaser is reporting through the credit reporting agencies. In addition, I would look to see when the original account went past due in order to calculate the applicable date for the statute of limitations. In all honesty, I can't see most debt purchasers litigating this marginal claim if you request validation from the onset. For what it's worth, I do not think an oral promise to pay resets the statute in Georgia. Even if it did, they would have the burden of proving up the aforesaid promise and that is simply not going to happen in a small action such as this would be.
Now to the other issue: Payments. What reasons did they give you for supposedly not accepting personal checks, money orders, or cashier checks? I can see the issue about personal checks - they might bounce on them, or people might put a stop payment on them, but money orders/cashier checks are completely different.
He didn't say they wouldn't accept personal check. That's what they want--his banking info so they can just take what they want from the account. That's why they don't want money orders or cashier's checks. They don't want safe funds, they want account info.
The person I spoke with said they do not take checks by mail. I said fine I have your address and I will bring a money order or cashiers check to your office. Her response was they do not take drop off payments at their office. They then suggested Western Union after trying repeatedly to get me to send them a personal check or do debit card charge which I said three times was not an option. These people take it to the limit..
If you do a certified check do not so it from your bank. Use a bank you have no accounts with. If you do a money order, do a USPS money order.
First off, Why not try a payment for deletion. tell them youre willing to pay and get it in writing. Second go to the GA Attorney General's website and see if theyre even licensed in your state. Read this link first as well some good caveats. http://www.squidoo.com/paying-collection-agency
Thanks for the great suggestions and info. I am sending a letter to these people tomorrow informing them to basically back off this thing because of the SOL on the debt. See where it goes from there.
Date of last activity doesn't count in GA My research found that GA counts the SOL from the date the account was charged off, not date of last payment.
