Collection Agency on my nerves?

Question

This collection agency has been calling me every day.....getting on my nerves.

I owe my university $5700. now it went to collection agency and became $7400. how can they charge me $1700 more. is there any way i can ask them the actual bills.

They tried to contact me for the last three months. but as i moved out from the previous address i didnt get any mails. so they called me 10 days back and so far i was able to clear off $3000.i read it in some websites that i can reqest a debt validation report from collector in 30 days from communication.

So what is the day of communication in my case.....is it the day that they first send the postal mail which went to my previous address or is it the phone call that i recieved.

Their charges are too high..please help me out of this situation to get a fair debt to be paid. i can pay in full but dont want to loose my money to these suckers who chage me hefty collection fees

Answer 1

STOP TAKE A DEEP BREATH, LET IT OUT SLOWLY. Tell the collection people that you are not paying anything that you have not signe an obligation to pay. They will get upset and huff and puff. HANG UP THE PHONE. When they call back and identify themselves, don't say anything, JUST HANG UP. If they call on the job HANG UP. If they call on your job have your supervisor tell them that your time during the work day belongs to the company and they will have to call you at home. If they call at home and interrupt your calm, take the phone off the hook.

REMEMBER, YOU NEED TO PUT THE PAYMENTS FOR THE BILL IN A BANK ACCOUNT. Never tell these people what you are doing, and don't talk to them. Do not give them any information, (are you currently working, where do you work, what is your rate of pay). Don't answer any question this is not the time for it. If a new guy contacts you, tell him "You have to put in writing whatever you have to say before we can discuss it". Say no more and tell him or her, "That is all I have to say." If they try to continue with a discussion HANG UP. The collection people want you to say you are not going to pay the bill. This statement caused the judicial watch dogs to show fangs.

Once the written bill comes, you can dispute any charges you feel are unfair. And you can arbitrate any fees and interest that is outstanding. The creditor is still not entitled to any information about you, where you work, what you make, what kind of job you have. These people act like they are your friend, they are not.

Is this the only bill that you have a problem with? If so, bide your time. If not seek credit counceling.

Answer 2

Ist contact the original creditor (the university) and request an account statement showing the balance due & any payment made, also the contact information for the collection company. Send a debt validation letter to the collection company, this will do 2 things: 1)by law they have to stop calling you for 30 days or until they have sent the proof to you that they own the account & the balance due., 2) give you time to get your sanity back. DO NOT CALL THE COLLECTION AGENCY UNLESS IT IS NECESSARY!!! Try to deal w/ the university if possible. After you have received the statement from the university, send a letter requesting to deal with them only and a settlement offer. Since this is a school loan, they know that they will almost always win in court against you for the full amount and be able to have your income garnished. They will probably deny the offer, don't fret, send another letter to the university to set up payment arrangements or just call them at this point. BUT REQUEST ANY AGREEMENT IN WRITING.
If they university does not wish to accept payments from you, then send a settlement offer to the collection agency. Never call the collection company, they are sleazy and just want the most money they can get from you. Remember to send all mail certified mail return receipt requested. Agree to nothing over the phone, never give anyone any of your personal info (work information, bank accounts, post dated checks, etc) always pay with money order.
**Also at the payment and settlement letters try to negotaite for a more favorable comment on your credit report, like "paid as agreed", or a removal of the collection account if it is already on your report. They can do this, even if they say they can't.
Good luck.
for sample letters and more help try here:
http://www.ourcommunitypower.org/

Answer 3

If this is a government loan then you will eventually have to deal with it. Most of them you can put on deferment statis for a long time. I would call the collection agency and say you only have $3,000.00 and you are willing to give it to them if they will clear the debt. Just act like (i just don't know what else to do attitude and a willingness to show good faith). i have done this successfully many times. good luck

Answer 4

thats the charges they make and no one is around to say its too high, you will have to go to court likely or just make arrangements to pay the darn bill.