[lolo620]

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!

[HelpinHere]

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.

[geewheez]

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.