Collection agency harrassing me

[Anonymous]

I have an old collection that has not been reflected on my credit report for about 2 years now.  I believe we are past the SOL.  I have been in a payment plan ($200/month) for several years and would only hear from the CA when it was time to authorize another series of monthly payments.  In the last month, the CA has called me 5 times asking me to settle the debt.  The amount is $14,000 and they are offering $10,000 settlement.  I don't have that kind of money.  They suggested that I try to get a loan.  Why all of a sudden are they pressuring to pay this off.  They seemed to be just fine with the $200/month.  What should I do?

[sl]

If they agreed to the payment plan that you are on, I would stick to the plan. I would not go out and incurr new debt to pay the old debt off. Also, if you settle a debt for less and the amount you settle for is $600 or more, you have to include the amount of the debt that was written off as income on your tax return - they can send you a 1099 for that amount.

[Anonymous]

How do I tell the CA?  Should I just say you agreed to this plan now deal with it and stop calling me?

[sl]

Yes, tell them to do their homework that you are on a payment plan for XXXX, I am fulling my obligation and don't call me or I will send you a C&D letter.

[Anonymous]

Can they sue me even though I'm on an approved payment plan with them?

[Anonymous]

If you have an agreement..and you are living up to that agreement, I really don't think they can sue and win!

[Anonymous]

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debz wrote:

I have an old collection that has not been reflected on my credit report for about 2 years now.  I believe we are past the SOL.  I have been in a payment plan ($200/month) for several years and would only hear from the CA when it was time to authorize another series of monthly payments.  In the last month, the CA has called me 5 times asking me to settle the debt.  The amount is $14,000 and they are offering $10,000 settlement.  I don't have that kind of money.  They suggested that I try to get a loan.  Why all of a sudden are they pressuring to pay this off.  They seemed to be just fine with the $200/month.  What should I do?

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One option would be to threaten them with a possible lawsuit for constantly harassing you after agreeing to a payment plan.  One problem is proving the payment plan exists if it was all arranged by telephone.  They could lie and say that they legally notified you of the debt you owe and you knowledged the debt by sending in payments of a unagreed amount because there is no documentation that such a plan exists.  We both know thats not true but if all you have is your word then it will be hard for you to prove it.  Although if you went to small claims all you need to show is reasonable probability you did. 

[Anonymous]

I have a letter from the CA acknowleding and agreeing to the payment plan and they also send me a letter monthly reminding me of my $200 debit on the 28th.  Do you think this is sufficient in the event they try to pursue further?

[Anonymous]

But also she said this has been going on for a long time 2 years or so don't they also acknowledge by their continual acceptance of such payments the agreement. Estoppel ???

[Anonymous]

You have angreement I would send them a letter CMRRR telling them that you have an agreement and stop calling!