Collection Co. Nightmare

Anonymous · ‎10-02-2007

I am trying to help someone negotiate a payoff for a collection acct on their credit. The amount of the collection account is 5200. A few months ago he was told by the collection co. that he could settle the debt for 50% which he was OK with even though he wasnt even sure what it was for. Now he is trying to refi his house(I am a mortgage broker) and it need to be paid off. He assumed that the 2600 deal was good but when we tried to get payoff it was a nightmare. I was with him when he called and the guy was very rude and unreasonable. He refused to send something in writing and would not honor the deal the co. had with my customer. We requested to speak to a supervisor or someone else because at this point there was no way there was going to be any resolution. He said" I am not a customer service agent and I dont have to put anyone o the phone and if you want the payoff in writing it will be for 3900 and will only be good for few days." He doesnt know that we are refi'ing the house. We even called back 3 or 4 times and the call always gets rerouted to him.

My question is IS there any way to get a superviser or someone else to handle the account? What should someone do in order to just get the same offer that was once given to them and have a payoff sent in writing. This guy just was not having it. ANy and all advise would be apreciated.

Thanks,

Anonymous · ‎10-02-2007

Get a lawyer.

Anonymous · ‎10-02-2007

mr, I believe it is the consensus here, that when dealing with a collection agency(ca) to do it ONLY in writing...document EVERYTHING. It can and will become vitally important to you and your client. Those people are willing to do and say anything to satisfy the needs of their customers. Sad but true. I too, learned the hard way

Anonymous · ‎10-02-2007

If a mortgage co. pulled your CR they know about it!

What is your SOL? It is easier to get PFD if past SOL.

something that you will se on most of these threads NEVER talk to a CA on the phone!!!!!

If past SOL send a DV. IF they answer within 30 days move on....

send a PFD!!!

Never sign your name to anything going to a CA!!!! never admit anything!!

When doing anything with your CR it is always best to know your SOL!!!!!!

This will give you an idea...there is another with update info.

http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8

Anonymous · ‎10-02-2007

The date of last activity was 1-2004. It is actually reported twice on the report. I had one removed. I dont have time on my side because the lock expires in about 12 days, I assumed that the collection co would take what they had previuosly offered me, all I wanted was something in writing to forward to the lender to get it paid off. The guy is really unreasonable.

Anonymous · ‎10-02-2007

(1) it is the beginning of the month - new month, he can be a jerk until he realizes his paycheck is down (they get paid on what they collect) - motivation.

(2) offer a PFD in writing for the 50% with a 7 day time limit - send it overnight if you have to. Bad part is they know they have you over a barrel (the mortg inq is there) and that if this isn't cleared up you don't get the mortgage.

If this is medical - mortage co can't force payment as a conditiion. Medical is the only one they can't force to clear - but if it's not being paid on they can deny the loan - so a payment of even $10/mo on a medical collection will get you thru the mortgage process (just be paying well before you apply like maybe 6 months).

As far as I know, a CA cannot refuse your payment - and processing that $10 payment will cost them more probably than the $10 incoming.

Message Edited by Lady_Scarlet on 10-02-2007 05:32 PM

Message Edited by Lady_Scarlet on 10-02-2007 05:33 PM

Anonymous · ‎10-02-2007

Can or should I fax it to them?

Anonymous · ‎10-02-2007

Yes, you can fax it - just make sure to get a confirmation page.

Anonymous · ‎10-02-2007

Good info Scarlet! I agree completely!