I have an old Cingular Wireless bill that is in collections and I wanted to know if I can call Cingular and try to settle the debt with them, or do I have to deal with the collection agency that has the old debt now. Do you think they would be willing to negotiate a settlement offer with me for a lower payment then what I owe? I had an offer before with the agency at one time, but two weeks before the payment was due, I was laid off my job so I couldn't make the payment. They have since sent it to another agency that's trying to collect. Please, someone who knows, respond with suggestions.
2007-01-22 12:57:54 · 4 answers · asked by sleepingbeauty123 3 in Business & Finance ➔ Credit
you have to contact the collection company to negotiate the debt. Make sure you ask them to fax or mail you a copy because you never know they might cheat you. visit http://www.hotloansources.com for more free tips and advices
2007-01-22 13:37:31 · answer #1 · answered by Beyond my control 1 · 0⤊ 0⤋
I am also a bill collector and you can settle the account as per the clients perimeters as to what the settlement would be some offer up to 50% of balance. It will reflect on you credit bureau settlement it will not show paid in full if paid in full will show that, If you settle request a release letter from the agency, You can still send payment to the client they will just refer it to the agency, But if settling deal with hte agency. Either way the agency and collector will stillget commision on your paymentt
2007-01-23 03:45:32 · answer #2 · answered by Anonymous · 0⤊ 0⤋
No worry,Iam going through the same problem with Verizon.It does no good to pay it off because it will still be on your credit but claiming paid but people will still see that you waited so long to pay it,Yeah collections will offer you a settlement but like I said it still appears on your credit report. If you try to get it paid you would have to wait two momths so that it can appear on your credit report that you reapply with Cingular(but they will this time charge you a huge down payment)for new service.
But they can not collect from you all they will do is send you payment invoices to harrass you.Try Verizon.
2007-01-22 13:30:06 · answer #3 · answered by qtpie34 2 · 0⤊ 0⤋
normally when you have a bill in collections the creditor is done with your acct.. they want you to deal with the collection agency.. thats what they pay them for.. normally all collection agencies have guidelines about settling a debt.. they are capable of telling you what the guidelines are..
2007-01-22 13:25:51 · answer #4 · answered by Betsy B 3 · 1⤊ 0⤋