Collection Agency won't take my money?

Question

This debt is not owed . . . but I can't prove it. So, to clean up my credit I am trying to pay the so-called debt ($1200) anyhow. The collection agents call two or three times a day and everytime I decide to speak to them I offer to pay $50 dollars a month. That is all I can afford right now, but they say . . No! They want at least a $100 dollars a month. Should I just start sending the $50 a month certified mail? I want this debt, the phone calls, the stress to go away. What should I do?

This amount is for my tuition in my last semester of college. I have confirmation from school officials that I would not have been allowed to attend classes if my tuition was not paid in full. My dad paid what tuition there was left after the student loans however his records were lost in a fire and he no longer uses the same checking acount. The school will not allow me to view the records concerning my payment/ non-payment. I have reached the point where it doesn't really matter anymore if they would just take the damn money . . . this could have been over and done with three years ago. -- That they are willing to accept payments of any amount is a big step for the collection agency. The first time they contacted me they wanted the amount in full.

Answer 1

First of all: Write them a certified letter and tell them pursuant to the Fair Credit Reporting Act (FCRA), you are requesting that all phone calls to your home or office immediately cease. You may be contacted by post mail to your home address (give them your mailing address). Also, this is VERY IMPORTANT. If you do not owe them anything, DO NOT pay. Payment is a form of agreement that you owe them the money. It will also reset the statutes of limitations to current. I suggest that you do the following:

1. Dispute the errors in your credit report by writing to the credit reporting agencies or visit their websites, they have dispute systems in place. They have 30 days to respond. If they do not respond in 30 days, by law they have to remove the errors. If they do, then it will be cleared because you don't owe money, right?

* Equifax
P.O. Box 740241
Atlanta, GA 30374-0241
[phone].
* Experian
P.O. Box 2104
Allen, TX 75013
(888) EXPERIAN (888-397-3742).
* Trans Union
P.O. Box 1000
Chester, PA 19022
[phone].

2. Look in your credit report and determine when you made your last payment. There is this law called Statute of Limitations, this is simply a time limit on when a person or company can bring legal action against you. In California, for written contracts, it is 4 years from the date last payment was made. If your last payment has been more than 4 years, they can no longer take legal action against you. If they do, the judge will throw out their case in court. However, if you make a payment, it will RESET this time limit to current, so be careful. NOTE: Being out of statute does not prevent further collection, but you know they can't take action against you anymore whatever threats they make. BTW, it is illegal for collectors to make threats.

3. Call the original creditor and ask them how much your balance is. If it is zero or anything different than what the collectors say, ask the person to send you a letter confirming that the account is fully paid. That should shut up the collectors and you could start turning the tables on them for harassment if they continue to call.

Remember that collectors get paid on how much they recover. The more money they collect, the more they get paid.

Answer 2

Call the consumer protection agency in your area. If you truly don't owe it, you shouldn't be harassed and you shouldn't pay it.

If it turns out you do owe it, tell them that you are willing to pay 50/month if they will hold the interest for awhile. That may save you a little money as well.

These people have the ability to manipulate some things, because they only get paid if thy collect. Ask to speak to a supervisor next time, be aggressive and firm. They can't do anything worse than they already have to your credit.

If they have a judgment, they can garnish your wages, but it costs them each time they do it, and if you don't make very much, they won't get anymore than the 50 bucks anyway. If they do it, you can adjust your taxes withheld to lower your take home pay by enough that they won't get anything, and each time they will just lose the 25 dollars it costs to garnish the wages.

If you have more questions, you can email me, but give me more info so I can better assist.

Good luck

Answer 3

I think you need to manage your incomings, because usually the collection agencies also have to follow some laws, they must have contacted you earlier to give u some payment options. Now as that time should have gone they must be wanting you to pay the amount they say.

Thus my view would be, try to get another job and thus increase your income, and thus pay the amount owed, in the way they say.

Answer 4

generally ninety 9.9% of the time while an account is "bought" to an employer, it is bought as area of a portfolio.. meaning your account may be a million of say one hundred.. those kinds of debts have in many circumstances elderly previous a hundred and twenty days or greater even 5+years and are quite an investment risk.. If a creditor is "gotten smaller" with an employer then the words are generally 60/40 split and 50/50 if it is going criminal.. All monies accumulated by a sequence employer decrease than contract is going right into a have faith account and then the agreed % is paid to the shopper on the top of the month.. As for profitability, if a "debt shopper" buys a $50,000 portfolio say for $5000.00 and it consists of 1000 delinquent debts averaging $50 in step with/account (unique debt volume).. Then the employer basically needs to deliver jointly one hundred debts to conceal value.. the different 900 turns into area of a residual for the debt shopper..

Answer 5

i would ask for written proof of agreement you entered into showing your signature and calculations.

in England if your offer of payment is rejected it counts in your favor but i don't know about us law.

i would in first instance write to company send recorded delivery or hand deliver to a responsible person within company requesting a copy of said contract and then take it from there. if they cannot show you owe them the money then u should have no problem

Answer 6

Can they prove you owe it? I would not pay it. It sounds like a scam. I would investigate the company through Better Business Bureau and then make phone calls. They would need to provide proof for me to pay it.

Answer 7

Can THEY prove it? If not, just tell them IN WRITING that it's some kind of error and they should bugger off. Deal with your credit rating later. But do get to it. You get one free credit report annually from all three credit agencies. Wait a while, them get your reports, and protest if necessary, using their procedures.

Answer 8

I would make the calls and get the proof. These damn credit card companies want to suck it out of you.

Answer 9

I WOULD JUST START SENDING THE MONEY. I WOULD DEFINATELY SEND IT IN A WAY THAT YOU CAN PROVE THEY RECEIVED IT. I SERIOUSLY DOUBT THAT THEY WILL SEND YOUR MONEY BACK TO YOU. IF YOU DON'T THINK YOU OWE THE MONEY, THEN DISPUTE IT WITH THE CREDIT BUREAU. GOOD LUCK!