Will a collections agency, taking car of a debt from a previous bank account sue for $450.00?
yes and they get a judgement and garnish your wages if your late =/
More specifically, a CSR of Collections of GC Services.
Hey Jude: Pay your bills and they won’t call, ever!
It is challenging to work as a CSR for collections. You will be confronted with people all day long who think they do not have to live up to their legal agreements and they WILL give you an attitude about it. You just have to remain calm. I did collections for about 2 years but got tired of people yelling at me, for something they are responsible for.
I was contacted by a law firm recently and made a payment arrangement. However, I didn’t sign any documentation. Unfortunately, I was laid off before I could make that payment. Today, I came home with a message on my answering machine stating that the law firm could count that as a bounced check and prosecute it. Is that factual, or is it just another scare tactic to get me to pay?
A rejected debit card payment is a bounced check.
Rather you write a check, or use your debit attached to your checking account, when the money is not there it is considered non-sufficient funds.
So, if you don’t come up with the money, plus fees, you very well could be prosecuted under the bad check laws.
Call them and see what you can do to avoid this.
I would also call your bank and report your card lost or stolen so that the bank reissues a new card with a new number to keep the collector from submitting future payments.
Tell the collector that the number they have is no longer valid.
Good luck with the debt and the job search (if necessary).
I was contacted by a law firm recently and made a payment arrangement. However, I didn’t sign any documentation. Unfortunately, I was laid off before I could make that payment. Today, I came home with a message on my answering machine stating that the law firm could count that as a bounced check and prosecute it. Is that factual, or is it just another scare tactic to get me to pay?
A rejected debit card payment is a bounced check.
Rather you write a check, or use your debit attached to your checking account, when the money is not there it is considered non-sufficient funds.
So, if you don’t come up with the money, plus fees, you very well could be prosecuted under the bad check laws.
Call them and see what you can do to avoid this.
I would also call your bank and report your card lost or stolen so that the bank reissues a new card with a new number to keep the collector from submitting future payments.
Tell the collector that the number they have is no longer valid.
Good luck with the debt and the job search (if necessary).
Can someone please tell me becuz my brother’s account has been charged off but it’s still building interest everyday even though he is paying monthly bills to get the money paid. I thought that once the account has been been reported to collections the amount owed just freezes…atleast that’s how it was with me.
Yes they can. Has your brother negotiated a substantial settlement on this debt? If not then he needs to do so asap. A charge-off will stay on your credit report for 7 years….paid, settled or not paid at all….In other words, you’ll have damaged credit regardless of what you do (or don’t do).
If you’re going to pay off -charged-off debt anyway, then you might as well negotiate the lowest, rock bottom settlement you can possibly get, being that the negative charge-off notation is going to stay for 7 years on your credit report, regardless of whether the charge-off is paid or unpaid. …Offer 25% and go from there.
Get all terms of any settlement deal you reach with debt collectors IN WRITING BEFORE you give them your money. This letter should state the settlement amount and that the account will be “paid in full” upon receipt of this amount from you. Keep the letter in a safe place. Never accept settlement deals over the phone that are not backed up in written terms. If you don’t, the debt collectors will deny that any settlement was ever made once they get your “settlement” money and will come back demanding more money from you.
- NEVER give out your checking account/bank routing numbers to debt collectors for making electronic debit payments. This is like giving the keys to your front door to a burglar. Once they have this info they can attempt to withdraw any amount from your checking account at any time. Pay only via USPS money orders.
Can someone please tell me becuz my brother’s account has been charged off but it’s still building interest everyday even though he is paying monthly bills to get the money paid. I thought that once the account has been been reported to collections the amount owed just freezes…atleast that’s how it was with me.
Yes they can. Has your brother negotiated a substantial settlement on this debt? If not then he needs to do so asap. A charge-off will stay on your credit report for 7 years….paid, settled or not paid at all….In other words, you’ll have damaged credit regardless of what you do (or don’t do).
If you’re going to pay off -charged-off debt anyway, then you might as well negotiate the lowest, rock bottom settlement you can possibly get, being that the negative charge-off notation is going to stay for 7 years on your credit report, regardless of whether the charge-off is paid or unpaid. …Offer 25% and go from there.
Get all terms of any settlement deal you reach with debt collectors IN WRITING BEFORE you give them your money. This letter should state the settlement amount and that the account will be “paid in full” upon receipt of this amount from you. Keep the letter in a safe place. Never accept settlement deals over the phone that are not backed up in written terms. If you don’t, the debt collectors will deny that any settlement was ever made once they get your “settlement” money and will come back demanding more money from you.
- NEVER give out your checking account/bank routing numbers to debt collectors for making electronic debit payments. This is like giving the keys to your front door to a burglar. Once they have this info they can attempt to withdraw any amount from your checking account at any time. Pay only via USPS money orders.
couple weeks back i lost my wallet and they comitted fraduleant activity and overdrafted my account about $4,000 and now the bank wants me to pay and I said No so now im into collections agency and i don’t think it’s fair for me to pay up so how bad does it affect ur credt report and reputation i’ve been fallen for collections with the hospital when i had no insurance and no money and from this day i still haven’t finished paying the hopistail and the doctor almost a year now.
Well first of all if it was fraud, it should be turned over to fraud and you would not be made to pay that. If there were fraud on your checking and that is why you cant pay your bills, then the bank can write you a letter to give to your creditors advising that your funds are held up due to fraud, and most companies with work with you on that.
As far as how bad is it, it hurts your credit, when you get collections agency your account is pretty past due, most companies will do in house collections up 180 days so if it is out sourced to a agency your account is really past due and is really damaging your credit.
After my GREAT LAKES Student loan went default, this agency contacted me about my balance. They say they work for Great Lakes so they have no hidden costs associated with them, even so far as making my payments out to Great Lakes and not DCS. Also, they say they can only take payments electronically, not by mail, because I dont want to give them my bank account number!
Please share your reviews, Thank You!
Some lenders do outsource their collections to debt collectors, if this is the case it will tell you on any letter you receive to make your payments out to ABC Corp.
However I personally would never give a debt collector access to my bank accounts and neither should you.
When collectors first attempt to collect they can be very aggressive and may refuse to cooperate. They are trained to only accept certain types of payments such as full payments, post-dated checks, electronic payments and so forth.
Send your payment offer in writing certified mail/return receipt and let them accept or decline your offer. If they accept, you’ll probably never receive anything in writing that says they accept your plan however, make sure that your letter includes this statement, "Please note that accepting (cashing) this payment constitutes a payment agreement between us according to the terms outlined above."
Keep accurate records! Keep copies of every letter you send and everything they send including the envelopes.
After my GREAT LAKES Student loan went default, this agency contacted me about my balance. They say they work for Great Lakes so they have no hidden costs associated with them, even so far as making my payments out to Great Lakes and not DCS. Also, they say they can only take payments electronically, not by mail, because I dont want to give them my bank account number!
Please share your reviews, Thank You!
Some lenders do outsource their collections to debt collectors, if this is the case it will tell you on any letter you receive to make your payments out to ABC Corp.
However I personally would never give a debt collector access to my bank accounts and neither should you.
When collectors first attempt to collect they can be very aggressive and may refuse to cooperate. They are trained to only accept certain types of payments such as full payments, post-dated checks, electronic payments and so forth.
Send your payment offer in writing certified mail/return receipt and let them accept or decline your offer. If they accept, you’ll probably never receive anything in writing that says they accept your plan however, make sure that your letter includes this statement, "Please note that accepting (cashing) this payment constitutes a payment agreement between us according to the terms outlined above."
Keep accurate records! Keep copies of every letter you send and everything they send including the envelopes.
This so called creditor was involved in a fraud scam when they didn’t pay the finance company all of the clients payments. A class action suit was filed and every ones collections were dismissed in 1990. Now they are calling 20 years trying to collect again? Who can I call? Should I get a lawyer?
Tell them to kiss off-over 7 years old too late to collect, and you can call the attorney general for your state what is going on.