I have been brutally "terrorized" by a collection agency handling my student loans. To be quite honest with you, I just found out about it being in outstanding default only a few days ago. I am PAYING them money and yet I"m being treated unfairly. I screwed up a few years ago, got pregnant, dropped out of school for a while and then the loans defaulted. SO, it's all my fault. I understand that and I"m taking the heat for it. I've heard that you can write a letter and send it to them to fire them and they have to send your balance back to the original creditor. Is this correct? What is legal and what is not in regards to this idea? Please seriousness is all I ask.
2007-03-02 10:17:37 · 4 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
Yes, you can "fire" a collection agency. Simply write them a letter and tell them to stop contacting you. Tell them you will only deal with the original creditor and you will pursue legal action if they continue to harrass you. Make sure to send it certified, return receipt requested. Collection Agencies have to honor this letter per the Fair Debt Collection Practices Act.
2007-03-02 11:27:26 · answer #1 · answered by ? 4 · 0⤊ 0⤋
you have received wrong info. you cannot fire a collection agency, they purchased you delinquent account and it belongs to them. you can appeal to the original creditor and work out a payment plan or an agreeable payment plan(three payments of $$$) they may cut a deal with you. do not forget that if you satisfy the loan write a letter to all three credit reporting agencies and explain what happened, this will help when it comes time to get something on credit.
2007-03-02 18:30:05 · answer #2 · answered by milton b 4 · 0⤊ 0⤋
Collection agencies are regulated by the states they operate in. Find out which agency in your state deals with collection agency practices and contact them. You say you are making payments. If that is the agreement, then they can't bother you as long as you live up to your end of the agreement. You can't 'fire" them since they don't work for you. They work for the people they are trying to collect the debt for. One further thing. They can't "terrorize" you if you don't talk to them. Hang up.
2007-03-02 18:34:18 · answer #3 · answered by chuck_junior 7 · 0⤊ 0⤋
How can you fire them when you were not the one who originally hired them? I would suggest looking up the laws in your state about creditor harassment. If they have gone above what they are permitted, I would consult a lawyer. If they are following the guidelines, you just have to live with it. Good luck
2007-03-02 18:28:49 · answer #4 · answered by hbuckmeister 5 · 0⤊ 0⤋