4k Collection-MOD help needed please and thanks

[Anonymous]

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@SSH0126 wrote:

I mean at the end of the day we still have to pay it regardless or continue to have the collection on the report unpaid. 

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Maybe you could send a PFD letter?

I'd also make 100% sure that you have the permission for them to access the bank account revoked.

[gdale6]

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@SSH0126 wrote:

Hello, 

My husband has a collection 4k..it was from last year. we are debating what would be the best thing to do. The CA is AD astra. Should we call the OC and request that they recall the debt and enter a payment arrangement with the OC?? or should we attempt to PFD with AD Adstra ? What would be a good startin point ? WHat dollar amount should we offer we do not have 4k sitting around. fyi. If we could get it removed that would be even better 

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SInce this is from last year its going to still be inside your states SOL so you are going to have to tread lightly here as they can still use the courts to get a judgment. I would not contact unless you are willing to immediately enter a repayment plan. I would first contact the OC and see if they will recall in exchange for the payment plan if they will then go ahead and deal with them as that will take care of the CA entry. OCs are very hard to get a PFD from and I dont think you would be successful if they too are reporting the TL. if they wont hear of it then you want to try with the CA to get the PFD. Typically you are not going to get that much of a discount with a newer collection at most all I can see them giving you is 25% off. When I entered into a PFD with a CA 6 years ago on a payment plan they did not remove the TL until I actually completed the repayment plan so it most likely will still be on file as you pay it down.

The previous poster may have something with what he is saying so take a look at your states laws on that first.

[Anonymous]

I'd also suggest taking a look at how much a payday loan company can charge in interest and/or late fees for your state. If they are racking up the amount due with an interest rate that exceeds what your state allows, or if they are tacking on fees that your state does not permit them to do, then you may end up having to go a different route on this one.

You shouldn't have to pay more than you owe and if they are violating any state laws by demanding more than they legally are allowed to, then that's the place I would start first. Once you make 100% sure the amount is correct and falls within the laws of your state, then I'd proceed with trying to take care of the debt. If you find out that they ARE violating state laws (or even federal laws if that applies to your situation), then I wouldn't touch that debt if it were me. I'd immediately report them to the appropriate state agency and let them handle the problem first.