Reply
Member
Posts: 8
Registered: ‎07-05-2007
0

Unpaid balance of settlement resold????

I had an account for a cell phone bill with Sprint which I made settlement on 50% of balance. They sent a settled and satisfied letter to me. I am now recieving letters from another collection agency for the remainer balance that was unpaid from the settlement plus interest. Is this legal and how do I get them from stop collecting since it was satisfied already?
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
0

Re: Unpaid balance of settlement resold????

Do you get the settlement in writing? Have you contacted Sprint about this?
Member
Posts: 8
Registered: ‎07-05-2007
0

Re: Unpaid balance of settlement resold????

Yes I do have a letter but the account that I settled was a Sprint account being held by Calvary Portfolio Services. That is who I made settlement with, the collection agency. Then they (Calvary) sold the unpaid balance to another collection agency. Are they allowed to do that since Calvary agreed that the account has been satisfied?
Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
0

Re: Unpaid balance of settlement resold????

It depends. There's nothing in federal law to prevent it, but there may be applicable state laws that address the issue. What the letter says is important.
 
This is a practice which seems to be regaining popularity.
 
Are they still reporting it on your CRs?
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.