Account "went bad" in December and was turned over for collections in January. We've made small monthly payments since February, and received a notice from a new collection agency yesterday for the same account...apparently the first collection agency turned it over to another one.
At any rate, does an account have to be really old for a collection agency to consider settlement offers or does the fact that this account has been in collections less than a year really matter?
Also, I realize you can settle credit card accounts maybe, but can you settle other types of accounts, too? (Like, an old cable bill for example.)
2006-09-24 10:42:31 · 5 answers · asked by WhyAskWhy 5 in Business & Finance ➔ Credit
you can settle for a lesser amount for any type of account. if you want to pay for it, tell the creditor you will pay a certain amount for deletion from you creditor report.
2006-09-24 16:15:28 · answer #1 · answered by bella_4624_19 4 · 0⤊ 0⤋
Actually, the collection agency likely now owns your account, so they may be willing to settle.
The only way to know is to call them and throw a number in their direction and see if they go for it.
Just bear in mind, you should have the cash ready/available to send ASAP.
As far as utilities go.. they often do not want to settle and if you ever want their services again, you will be asked for deposits.
2006-09-24 10:50:25 · answer #2 · answered by CactusFlower 4 · 0⤊ 0⤋
contract a lawyer
2006-09-24 11:53:44 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Man it sounds like they are just trying to screw you over. Contact www.lexingtonLawfirm.com they will help you handle this.
good luck
2006-09-24 10:46:03 · answer #4 · answered by Anonymous · 0⤊ 2⤋
You might want to pray about this first.
2006-09-25 19:26:26 · answer #5 · answered by don_steele54 6 · 0⤊ 1⤋