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    missy42's Avatar
    missy42 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 5, 2008, 11:02 AM
    Credit problems
    I have a charge off on my credit report, made arrangements with the collection agency but then the account was sent back to the original holder. The company says they will not accept the amount agreed upon with the 1st company and I have to pay in full or they will garnish my pay, is this right?:
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Sep 6, 2008, 06:53 AM
    Hello missy:

    They have to sue you first, but if and when they do, they can garnish you pay. If you can get CASH, I'll bet you can negotiate a good deal. But, most creditors don't want to accept payments, if it was your payments that that fell behind.

    excon
    kitkatmandu's Avatar
    kitkatmandu Posts: 6, Reputation: -1
    New Member
    		  
    #3

    Sep 9, 2008, 10:17 AM
    Quote Originally Posted by missy42
    I have a charge off on my credit report, made arrangements with the collection agency but then the account was sent back to the original holder. The company says they will not accept the amount agreed upon with the 1st company and I have to pay in full or they will garnish my pay, is this right?:
    Paying the collection agency doesn't always mean you are in the clear. You should have dealt only with the credit card company. Collection agencies and "debt consolidators" don't really clear up your problem. Work with your debtors or hire an attorney and file bankruptcy if necessary.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Sep 9, 2008, 10:42 AM
    How do you know it was sent back? Could be the agency is using that as an excuse to not accept your settlement.

    Bottom line ids you need to determine who owns the debt and is responsible for collecting it and deal with them.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #5

    Sep 11, 2008, 08:31 AM
    Quote Originally Posted by kitkatmandu
    Paying the collection agency doesn't always mean you are in the clear. You should have dealt only with the credit card company. Collection agencies and "debt consolidators" don't really clear up your problem. Work with your debtors or hire an attorney and file bankruptcy if neccessary.


    Absolutely incorrect - first, debtors are the people who OWE the money. Creditors are the people who ARE OWED. In light of your pending bankruptcy petition this misunderstanding could cost you a lot of money when you are filling out forms.

    And once it's turned over the credit card company will no longer take the DEBTOR's calls.

    Bankruptcy is a rather drastic step but I have no idea what the OP's circumstances are.
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