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Agreement with Collection Agencies

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Red1Blue
Super Contributor

Agreement with Collection Agencies

When we make installment plan or settelement agreement with Collection Agencies do we ask them to give in writing ? If we are dealing with them online chat what kind of agreement can we ask them to send before we give them payment?  Should I ask them agreement by mail ? Or can we ask them to send an email agreement ? I want to get some of the collection accounts out of the way soon. What is the best way to protect my self. 

3 REPLIES 3
Anonymous
Not applicable

Re: Agreement with Collection Agencies

You definitely want to get it in writing with the company letterhea do it, and signed by someone with the authority to make it happen. Best of luck to you!

Message 2 of 4
silver_idle
Established Contributor

Re: Agreement with Collection Agencies

Some CA do provide it in writing, either by email, their website (if they have a website that allows you to make payments, see accounts and any settlement offers, etc), or sometimes by US Mail (recommended), which should be signed by someone who has authorized the settlement. If your state permits a one-party consent, you could record the phone call when making the arrangement and that would be proof of an oral agreement (most CA do have the lines recorded but sometimes they really dont or it may get "lost" somehow). Good luck!

Message 3 of 4
Remedios
Credit Mentor

Re: Agreement with Collection Agencies

Best way is snail mail, should you ever need to dispute. I'd imagine email would work, too.

Recording calls wont do you much good. You're asking for proof should there ever be a need to dispute terms of your agreement, and you really cannot dispute or file complaint with voice file (recorded call) unless you're willing to engage in litigation.

Message 4 of 4
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