I have just found out that my debt has been sold to CACH LLC (Collect America) and have found out that my grandmother was called before they got a hold of myself. When they called me, I was at work and frantically agreed into a payment in full of a good sum of money. I then went home and did my research to find out I have 30 days from receipt of a letter to argue the amount or validity. So, I wrote my letter asking for clarification and sent a validation survey along with it. I then called back JA Cambece (representing CACH LLC) to let them know that I was arguing the validity of their claim and would not pay any more money to settle the amount. I asked what I should do about the pending balance in my bank account (the amoutn I agreed to pay up front, which I couldn't really handle but paid anyways) and they said to leave it. Should I be stopping payment on that as well? But once I had finally conveyed that I was willing to pay but with more clarifications and better terms I was told "Good Luck" and hung up on. I filed the appropriate complaints with the FTC, but what should I do about the balance I paid and the existing other balance? Has anyone been in this position before? Please let me know if anyone has any information that might help.

Thank you

I would suggest putting a stop payment on the outstanding payment understanding that Collection Agencies and Law Firms will try other means of getting money out of your account once you give them your account and routing number.

For instance, if you put a stop payment for $300, the amount agreed to be paid, and their attempt fails because you placed a stop payment, then they could turn around and try a check for different amounts that add up to $300 in order to get past the stop payment. They will state that they have the right to do it because they recorded the conversation and you gave them permission.

The only safe way in this scenario is to change your account information.