Any advice in helping me deal with Mann Bracken, LLC - debit collection agency?

Question

I went bust on a credit card. The credit card company sold my debt to Mann Bracken, LLC a debit collection agency. Any advice on how to deal with this company would be highly appreciated? I have no means to pay them back. I could care less about my credit. I own 25% of a condo and have a car which are both financed.

Answer 1

Write the collection agency this letter:

Dear Debt Collector:

Per The Fair Debt Collection Practices Act, I wish no further contacts from you. I will only deal with the original creditor regarding this debt. Your failure to comply will result in legal action against your company.

Sincerely, Your Name

They HAVE to comply to this letter or you can sue them in small claims court for $1,000! Make sure to send the letter certified, return receipt requested so you have proof of them receiving your correspondence.

Unless collection agency decides to take it to court (extremely unlikely), you will never hear from them again!

Answer 2

Be careful with whatever you do. This is a billion dollar attorney's office that collects account for MBNA and Bank Of America. B of A sells their bad debt credit card accounts to them for pennies on the dollar.

I agree with the settlement angle on the account. I tried to find with out any luck to see if a collection agency website listed the average amount that a lawyer pays for debt from a bank. All i could find was 12% but that may as well be correct. So with a settlement if you were to offer them 20% of the amount owed they will be reluctant to take it a first but then they will realize that they will make money.

If you send them a letter saying that you ran into hard times and that you would like to settle with them I am 100% sure that you will get an offer. You will then need to wait it out a bit in order to get a lower offer but eventually it will happen. Keep in mind that Mann Bracken LLC can sue you tomorrow if they wanted to. They would send an attorney to a local courthouse to file a claim against you. If they win all they will have is a letter showing the judgment against you. They will then have to continue to try and collect from you either via settlement or wage garnishment.

You can use some of the letters located at http://www.fdnsolutions.com/settlementletters to guide your way with the settlement process.

Good Luck And Don't Get Sued

Answer 3

You should negotiate a settlement of the account. It's your debt, pay it.

If you send a "drop dead" letter, they may very well file suit or they may just sell your debt to another collection agency. By the way, the original creditor sold your debt and you cannot demand to only deal with them.

Collection agencies are more likely to file lawsuits over smaller amounts than they use to. If they take you to court, they will win a judgment and attach your bank account or garnish your wages. They could even file a lein on your property.

Answer 4

You should contact them to make up a mutually agreed apon payment agreement. Whether it be $5 a month or $10 month. Remember, the less you pay per month the more harrassing phone calls you will receive. If you do not want to want to make any payments, be prepared to be sued for the amount of the debt if the debt is high enough.

Best of luck.

Answer 5

No, although, simply by fact that's a cell telephone and you pay by means of the call you could tell them that they are working up you cell telephone invoice and don't call it from now on. they are in a position to not reason you to incur extra cell telephone expenses. although, the debt won't pass away only simply by fact they at the instant are not calling you from now on. they could choose to take criminal action that could bring about garnishment of your wages. Your spouse remains accountable for the debt. while she took out the mastercard she signed an settlement / settlement to pay. (they are in a position to additionally freeze your financial corporation account.)