Almost a month ago, I made arrangements to pay a bill off with payments made every 2 weeks. 2 payments have been made and the company has not sent a reciept of payment. My bank sais that the payments were sent and recieved. Now, the company has sent my account to a collection agency. This action has reduced my credit score some and the bill is for the full amount owed, not the amount less the 2 payments made. What options do I have?
2007-09-07 21:45:42 · 3 answers · asked by lizzrdus 1 in Business & Finance ➔ Credit
Did you get a written copy of the settlement agreement? Did you allow the creditor to take the money from your bank account?
Be vary watchful of your bank account. They may take additional funds -- maybe the next payment, maybe whatever they can. It is a bad idea to give collectors direct access to your bank account.
It is also very common for companies to sell off bad debt. You were probably in a group of bad debt that was sold off.
Send a letter (certified mail, return receipt) to the company detailing the payment arrangements and payments that had been made as promised. Ask them to remove your account from the collection agency and continue with your agreed payment plan. Send a copy to the collection agency.
You may still have to deal with the collection agency. But do everything in writing and don't give them direct access to your bank account.
I hope this isn't a large amount of money and that you can get it paid off quickly.
2007-09-08 04:17:49 · answer #1 · answered by bdancer222 7 · 0⤊ 0⤋
The best option is to write to the company, return receipt requested, explain the situation, including a statement from the bank indicating that the company has received the payment.
Write to the three credit reporting agencies and they will include a statement from you on your credit report.
Third you can contact an attorney and ask him to handle the matter. There will be a fee involved and I would not contact an attorney now when you may be able to clear up the problem yourself.
Good luck.
2007-09-08 11:27:08 · answer #2 · answered by DrIG 7 · 0⤊ 0⤋
get something from the bank showing that it was paid and received, and send a copy to the company and the collection agency, stating that you want a receipt showing what was paid and what is owed, if you don't get it, or if what you do get doesn't have the correct amounts on it, call all 3 credit bureaus and report this abuse, you would also have a legal option to sue the company for fraud
2007-09-08 04:59:27 · answer #3 · answered by booger0819 3 · 0⤊ 1⤋