Ask Me Help Desk - Collection agency/law firm

We have been trying for a month now to pay off a debt my son has. He went away to college and while away purchased a new motorcycle. Well he quit paying the monthly payment and got behind on the bill. We found out and had a fit, too late unfortunately. We have tried to contact the original creditor but they refuse to talk to us stating they have sold the account to a Bronson and Migilaccio out of Maryland. When we contacted them they first told us it would take $4500.00 to settle this debt. Well we agreed to settle and asked them to send us a letter stated amount due and that the title to this motorcycle would be sent upon payment of this settlement. They then informed us that they did not have the title to the motorcycle, some other company does and they will not talk to us at all, they only refer us back to this Bronson agency who claim to be attorneys and not a collection agency. Within the past week they have went from telling us $4500.00 was owed to $6700.00 is now owed. I told them to come and get the motorcycle as I will not pay more than I was first told was owed especially since they cannot produce a title to this motorcycle. They informed me they didn't want the motorcycle--we could keep it. What good does it do us to pay off a debt and never have a title to this vehicle? I am absolutely at a loss and do not know what to do next. We went through all the steps to take out a loan to pay this debt off and now they have upped the amount they want. The original creditor will tell us nothing--does anyone know what we can do? Any help will be greatly appreciated--Thank You

Quote:

Originally Posted by spoiledhorses

We have been trying for a month now to pay off a debt my son has. He went away to college and while away purchased a new motorcycle. Well he quit paying the monthly payment and got behind on the bill. We found out and had a fit, too late unfortunatly. We have tried to contact the original creditor but they refuse to talk to us stating they have sold the account to a Bronson and Migilaccio out of Maryland. When we contacted them they first told us it would take $4500.00 to settle this debt. Well we agreed to settle and asked them to send us a letter stated amount due and that the title to this motorcycle would be sent upon payment of this settlement. They then informed us that they did not have the title to the motorcycle, some other company does and they will not talk to us at all, they only refer us back to this Bronson agency who claim to be attorneys and not a collection agency. Within the past week they have went from telling us $4500.00 was owed to $6700.00 is now owed. I told them to come and get the motorcycle as I will not pay more than I was first told was owed especially since they cannot produce a title to this motorcycle. They informed me they didnt want the motorcycle--we could keep it. What good does it do us to pay off a debt and never have a title to this vehicle?? I am absolutly at a loss and do not know what to do next. We went through all the steps to take out a loan to pay this debt off and now they have upped the amount they want. The original creditor will tell us nothing--does anyone know what we can do?? Any help will be greatly appreciated--Thank You

The amount keeps getting higher because they are adding fees and interest. As far as the Title - I have no idea.

You can re-title in your name if and when the debt is paid off and the lien against the title is dropped.

Also why are you doing this, unless you are on the loan or title, they first can't actually legally deal with you, unless your son gave them permission.

So you let your son pay it off, let them sue him and let him learn a lesson perhaps??

No, I am not on the loan with him and yes I do agree he needs to learn a lesson but I also understand I was young once also--only difference is everything now relies on your credit--things didn't used to be that way. Credit is used for absolutely everything nowadays. I don't want him to ruin his due to this stupid mistake. Anyone with a child Im sure will understand. He realizes he messed up in getting this motorcycle in the first place--trust me paying this off for him will not be free. He will be paying payments to pay this money back.
My son has gave them permission to talk to me--the collection agency claims they do not have the title to this motorcycle. The original creditor does not have the title to it either--another company has it but absolutely refuses to talk with us. So we can not get anything stating the amount owed or that the title will be released upon payment. I understand there are interest and late fees BUT we were told $4500.00 to pay this off and four days later told $6700.00 I don't think interest can rise that much in a matter of days?
We are hiring a lawyer to deal with this delimia as I have no idea what to do--is obvious there is absolutely no way to deal with this company as they have never nor will not send us anything in regards to this account they purchased from the original creditor. Thanks for your help anyway!

Quote:

Originally Posted by spoiledhorses

No, I am not on the loan with him and yes I do agree he needs to learn a lesson but I also understand I was young once also--only difference is everything now relies on your credit--things didnt used to be that way. Credit is used for absolutly everything nowdays. I dont want him to ruin his due to this stupid mistake. Anyone with a child Im sure will understand. He realizes he messed up in getting this motorcycle in the first place--trust me paying this off for him will not be free. He will be paying payments to pay this money back.
My son has gave them permission to talk to me--the collection agency claims they do not have the title to this motorcycle. The original creditor does not have the title to it either--another company has it but absolutly refuses to talk with us. So we can not get anything stating the amount owed or that the title will be released upon payment. I understand there are interest and late fees BUT we were told $4500.00 to pay this off and four days later told $6700.00 I dont think interest can rise that much in a matter of days?
We are hiring a lawyer to deal with this delimia as I have no idea what to do--is obvious there is absolutly no way to deal with this company as they have never nor will not send us anything in regards to this account they purchased from the orginal creditor. Thanks for your help anyway!

Good that you have an Attorney involved in this - I have seen an offer of settlement extended by a collection agency in a certain amount, good for X number of days. If you don't grab it then they add the interest and fees. Maybe that's what happened.