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I currently have a collection from sprint for a cell phone bill of $1036. This included early termination fees, for the terrible service that I got. It says "Virtuoso CO" they can't force me into bankruptcy for this right? I mean having an account in collection has what reprecutions beside it affection your credit?
@Anonymous wrote:I currently have a collection from sprint for a cell phone bill of $1036. This included early termination fees, for the terrible service that I got. It says "Virtuoso CO" they can't force me into bankruptcy for this right? I mean having an account in collection has what reprecutions beside it affection your credit?
No.. they can't force you to BK. How old is the account? What is the DOFD of the TL? Is it with SOL? Shed some light on the situation but $1K in collections is no reason for BK.
I also have a collection from Sprint, which I have been trying to pay in full for deletion. They have never replied to my request but I noticed the trade line dropped off my TU report but it exists on EQ and EX stil.
Good luck to you.
Chiming in a bit late.....I would deal directly with Sprint...I too had a collection with Sprint, and I called Sprint directly made the payment directly to them and they sent me a letter stating the account was paid in full, and account in good standing and removed the TL from my reports.....Less than 1 month ago!!!!!
If you go this route ask if they'll pull it back from the CA first. Otherwise the CA can still post the TL.
Edited because I clicked post before I typed anything. It's a morning thing.
I had an open account with sprint and I PFD. They came through, it was off of my credit report in less than 30 days. Good luck!
Agree they could sue, but that's a big "IF" depending on SOL.......Payment plans on an open account still wouldn't stop them from reporting deliquencies as well.
The early termination fees are a racket! If you do not care about your credit, just don't pay it. Eventually it will end up with a collection agency. Let the account get old, and offer them 25% to pay it off. They would have to sue you, and win to be able to garnish or freeze your accounts. What state do you live in? When is the last time you made a payment to sprint?
Learn what a debt validation letter is. Send one to every Collection agency or lawyer that contacts you. For such a small amount, the odds are you will not be sued. It's possible, but maybe a 5-10% chance, as long as you answer along the way.