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when settling........

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adio413
Regular Contributor

when settling........

is there ANY way you can be sure &/or try to prevent a collection agency from selling your debt to someone else after you've already paid a settled amount with them?

Message 1 of 7
6 REPLIES 6
ah12345
Contributor

Re: when settling........

If you payed a collection try to get them to send you a confirmation that the account has been paid if another collection tries to collect on it you have proof that it was already paid and shouldn't have a problem getting it removed. Hope this helps


Starting Score: 607 (5-3-12) EQ FICO
Current Score:671 EQ FICO (12-15-13);669 TU FICO (12-5-13); 699 (12-2-13) WALMART FICO; 695 EXP FICO (6-24-13)
Goal Score: 700+ Across The Board


Message 2 of 7
XxRaVeNxX
Regular Contributor

Re: when settling........

Not from I read...I was told, they can sell and attempt to collect the amount that you didn't pay...which is one reason, why people shouldn't settle accounts and pay in full...

Chase Southwest $5000 - November 2012 Wal Mart $1000 - November 2012 NFCU Visa $5,000 - Sept 2012 NFCU NavCheck $3,000 - October 2012 Amazon $900 - Aug 2012 Kay's Jewlery $2700 - Aug 2012 Buckle $250 (Shopping cart trick) - October 2012 Roaman's $250 (Shopping cart trick) - October 2012 Capital One Secured $225 - April 2012 Capital One Platinum $2500 - July 2012
Message 3 of 7
Shogun
Moderator Emeritus

Re: when settling........

If they send you confirmation that the account will be fulfilled to terms, they can't come back after the remaining amounts.

Starting Score: 504
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EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Message 4 of 7
rootpooty
Valued Contributor

Re: when settling........


@Shogun wrote:

If they send you confirmation that the account will be fulfilled to terms, they can't come back after the remaining amounts.


+1

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scores 7/14 647 622 630 (85%util)
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Message 5 of 7
LIGHTNIN
Senior Contributor

Re: when settling........


@adio413 wrote:

is there ANY way you can be sure &/or try to prevent a collection agency from selling your debt to someone else after you've already paid a settled amount with them?


 IME, I asked for a letter that stated our agreement and to included the words ....debt settled/considered Paid in Full.

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Message 6 of 7
adio413
Regular Contributor

Re: when settling........

thanks everyone..............

Message 7 of 7
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