2006-08-17 15:24:33 · 11 answers · asked by Anonymous in Business & Finance ➔ Insurance
hi, I don't promise anything but if you are willing to read
people in debt often seem to find some help here :
http://credit-cards.ebookorama.com
and here http://finance.ebookorama.com
also plenty more to read here
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
good luck!
2006-08-19 15:11:50 · answer #1 · answered by Anonymous · 1⤊ 0⤋
What they do is (such as credit cards and banks, doctors too now) write it off, sell the entire debt for sometimes pennies on the dollar and the people who brought it go after you for the entire amount.
If someone contacts you and offers to settle it for a reduced rate you actually need a lawyer to be safe. most collection companies will offer an amount much less than what you owe and once they get it will instead sell the balance to another company.
The are many lawyers now in the collection business as they purchase on consignment hundreds of thousands of debts and are in the poisition to ruien lives to collect them(ruiening lives are lawyers best side). Never pay a collection agency online checks or credit cards or debit card payments. make them send you a bill guranteeing a discount which you can pay a lawyer 70/100 bucks to have his secretary verifly ,and handle the payment ending the debt.
If you owe something like a credit card whuch has written it off than you need to settle with the company who buys it by (if they offer a reduced rate) paying a lawyer to handle it to rid yuourself of the debt or you can pay it forever and still owe collections agencies. Credit companies are butchers of the soul and family
2006-08-17 22:42:16 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You could contact the company and ask the status of the debt. I've actually had some companies in this way tell me that the account is closed...no payments expected. But remember, so long as you didn't pay, this debt may remain on your credit report.
2006-08-17 22:31:50 · answer #3 · answered by Marvinator 7 · 0⤊ 0⤋
Stacey K is wrong. Insurance doesn't cover bad debts. Bad debts are tax deductible but neither that, nor the companies internal decision to write off the debt changes your legal responsibility to pay the debt. If you do pay off the debt the company recognizes the payment as income, offsetting the tax benefit they received previously from writing it off.
2006-08-17 22:44:49 · answer #4 · answered by Oh Boy! 5 · 0⤊ 0⤋
no, every month, a company gets reimbursed for any debts thats they write off. Thats part of whats covered in a company's insurance.
2006-08-17 22:31:50 · answer #5 · answered by Stacy K 3 · 0⤊ 0⤋
when they write off, they identify which customer the written-off account belongs to. if you don't pay back, they will forever have a record that shows that you used to default on a debt. this could affect your credit worthiness when you need to borrow again in the future......
2006-08-17 22:44:01 · answer #6 · answered by Peter 3 · 0⤊ 0⤋
You mean, you filed a claim for something, got paid for it, found the something, should you pay the money back?
Yes. Otherwise it's called "stealing".
2006-08-17 22:33:26 · answer #7 · answered by Anonymous 7 · 0⤊ 0⤋
Yes, you made the debt, you should pay the debt (morally).
2006-08-17 22:31:34 · answer #8 · answered by Ms.loanofficer 2 · 0⤊ 0⤋
Of course.
2006-08-18 00:09:37 · answer #9 · answered by frugernity 6 · 0⤊ 0⤋
It be a black mark against you,
2006-08-21 21:26:53 · answer #10 · answered by Anonymous · 0⤊ 0⤋