Anyone been involved with debt collection agencies? Were you able to negotiate w/ them?

Question

I have been turned over to ASG and through some research, saw that sometimes certain agencies will take full payment and agree to remove the account from all 3 major credit reporters. I originally offered them $700 out of $1100, and they said sure, if I could pay by the next day. I could not. I know it is possible to negotiate, but has anyone had any real luck or advice?

Answer 1

I researched this myself (long story as to why) ; here is the best advice i found:

Create accountability: When you receive a call, get the caller's full name, the company he is working for, a phone number where he can be reached, and the origination of the debt. If he refuses to give you any of these pieces of information, ask him, "Why? Are you planning to threaten me illegally?"

Be strong: If he won't give you the debt origination, or he says that he doen't know, explain to him that you understand that this is traceable information; and that you would be happy to explain to a judge how you defaulted on your debt because there was no evidence of a debt even originating. Judges tend to dislike creditors and collection agencies that display slimy business practices and will favor someone like you with a legitimate argument.

Be repetitive: Repeat yourself. Say the same thing over and over. Use the same phrase again and again. Repeat yourself (you get the idea). The collector will continue to ask, "When are you going to pay?" You can reply with a version of, "I want to pay this bill, but I don't know you, and I've got no evidence that this is a real debt. Before we negotiate any further, I require specific knowledge of this debt's origination."



Stipulate the terms
Send a letter to the debt collector outlining the payment agreement. You'll want to send it via certified mail so you'll receive a receipt once the letter is delivered.
In the letter explain that the collector has agreed to accept the negotiated settlement amount as payment in full for your debt. Keep a copy of the letter for your records.
If you plan to pay by check, add the following disclaimer: "Cashing this check constitutes payment in full." Write this disclaimer right on the check.
You'll want to emphasize this point in your cover letter as well. Make it clear that if the enclosed check is cashed, it means a debt collector has accepted your payment offer and the debt is considered paid in full.
You may even want to hold off paying until you receive a written confirmation back from the debt collector acknowledging your payment agreement.

Whether you send your payment with your letter or you wait, make sure you have a copy of the payment agreement. You'll also want to keep notes of the phone conversation in which you negotiated the settlement. Make note of the day and time of the call, the name of the collector that called and what was said.
The more proof you have, the better. You may need it.
Some consumers get hassled with collection calls on debts they've already settled.
According to the Fair Debt Collection Practices Act, a debt collector must send you a written notice telling you the amount of money you owe, the name of the creditor to whom you owe the money, and what action to take if you believe you do not owe the money. A collector must send this notice within five days of first contacting you.
Once you receive this notice, you have 30 days to respond. If you send written proof that you've paid the debt, a collector may not contact you again.

I got this information bits and pieces off the Internet. Hope it helps you.

Answer 2

NEVER make an offer to a collection agency if you are not prepared to pay that offer in full the next day. NEVER make any payment to a collection agency unless you are holding a written agreement to accept that amount as FULL payment BEFORE you send the payment. ALWAYS keep the agreement and a copy the the MONEY ORDER used for payment FOREVER. Many (not all but most) collection agencies lie routinely. Anything they say that is not in writing is worth the paper it is written on.

Answer 3

yes they can remove it but get it all in writing before paying a dime