I want to deal with the credit card company (original debtor) and not the collection agency. Can I still do that, or has the credit card company already relinquished its rights to the debt?
2006-09-03 14:22:14 · 13 answers · asked by Anonymous in Business & Finance ➔ Credit
Man! These answers are all over the map!
Yes, you can negotiate with the original creditor. Whether they wish to deal with you is up to them.
You have no legal obligation to even talk to a collection agency. That FACT is backed up by the Fair Debt Collections Act. So to you folks to constantly say you must deal with the collection agent.....PFFFFTTTT! Read the law, you are wrong.
The only time you have to talk to a collection agent is when they have outright purchased the debt. This doesn't happen for a few years after you became delinquent. And it doesn't happen as often as you think. Most collection agents work on a contingency basis where they get a portion of the debt they collect.
2006-09-03 16:44:15 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Maybe. This is not a YES or NO answer. If the collection agency is a PART of the CC company .. YES...maybe.. PERHAPS.
If it's been completely sold out to a 3rd Party Collection Agency you are now dealing with them, because they now OWN your account and will try to collect on it.
Having dealt with both (before my BK), I can attest that it is easier when you are dealing directly with the CC company's collection agency, but once they've sold it off.. it becomes increasingly difficult.
Hope that helps?
2006-09-03 14:25:55 · answer #2 · answered by CactusFlower 4 · 0⤊ 0⤋
Contact the original company and ask if you can get a payment plan or to pay it off with them. Some companies can buy the debt back from the collection agency. Whatever they tell you they can do, get the agreement in writing and get them to agree to take the collection notice off your credit report once it's paid.
2006-09-03 15:29:04 · answer #3 · answered by Vadalia 4 · 0⤊ 0⤋
NO!!! The credit card company has sold the receivable (your debt) to the collection agency. They now own it and you must deal with them. *Be prepared to pay more than the original debt....the collection agency will add their fees on top of the original debt*
2006-09-03 14:26:30 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Once it has gone to collection you must deal with the collection agency. They are much tougher to deal with, so be careful what you tell them. And if you and the collection people decide on a repayment plan, get it in writing, and make the payments on time.
2006-09-03 14:28:51 · answer #5 · answered by supersuzym 2 · 0⤊ 0⤋
You can deal with the credit card company directly, but inform them in writing of your plans.
As another answer noted, if the debt has been sold the original creditor cannot help her.
2006-09-03 15:08:59 · answer #6 · answered by Paul D 5 · 0⤊ 0⤋
I say to ONLY deal with the CC company, because they still have all your information, so it is best to continue with the same company you started. That and they will work with you, because they just want to collect there cash.
2006-09-03 14:29:33 · answer #7 · answered by slblomberg 2 · 0⤊ 0⤋
I've had this experience and I dealt directly with the cc co. The collection agency will tell you no because they want to collect their fee and if you go to the cc co they get nothing.
2006-09-03 14:25:35 · answer #8 · answered by Janet lw 6 · 0⤊ 1⤋
It depends on the credit card company. Some will deal with you and others won't
2006-09-03 14:38:14 · answer #9 · answered by wyseguyz65 1 · 0⤊ 0⤋
You have to settle with the collection agency.
2006-09-03 14:42:27 · answer #10 · answered by Anonymous · 0⤊ 0⤋