So I have a collection agency (NCO) on my tail about yet another one of my old credit cards that I have become too broke to pay. They are actually offering me a reasonable settlement offer, but some stuff they said strange. Yesterday (Fri) I received a notice in mail to call them because they were offering a settlement offer, so of course I called. They wanted X amount of $ right now, and I said what's the settlement offer. They said I could pay 2 payments of 488 and that would pay it off and it would be done with. But of course money has to be paid NOW. This being Friday I say how long to I have to pay before they consider the settlement offer null and void? They say by Monday! That almost made me laugh considering I just received notice THAT DAY! So I questioned that and she not so willingly gave me till next coming Fri. My question is this: I know I need to get this deal in writing before I pay anything, is there a chance, since I am so pressed for time to get this done that they will do that? I plan on calling first thing Monday of course, I am just worried (knowing how shady those places are) that if they don't receive that money by Friday they are going to go back and come after me for original amount. I already got the money I can pay it, I just don't want to give them my bank acct info. And I want them to fax or mail me something that says they agreed to this settlement offer. So is there anything else Im not thinking of that I should do to make sure they don't screw me over? And not giving my bank info. Is the correct thing right? Also I should demand this in writing correct? Anybody with input would be greatly appreciated!

First, as I'm sure you've already been told, you shouldn't have let yourself get into debt.

Now, if you already have the money to pay the down-payment on this settelment, I say try to take it.
Make sure to get a first edition or direct copy of a contract, with your signiture AND there's, and pay them in cash.

That's about all I got. You are right to not trust them. But they are sometimes right to be "shady" as often the people they are after try everything they can to dodge a payment, and the collectors must go to extremes to get their money.

I too have a NCO Account and wanted to know an answer to this very similar question. I have an old utility bill that I have not paid and know that I have the money I called NCO and have them offer me a settlement, which they did. I have never been bothered by these people but I want to pay the debt but they told me they would need my credit card number and then after it is paid they would send me a letter. Ah no... I asked for something in writing and they do not do this. HelpinHere stated to get a first edition or direct copy of a contract how do you do this ? The front end people can really be misrable to deal with if you try and ask for something different.