Re: Paying questions

Posted by LadynRed (199.91.33.254) on February 07, 2003 at 10:18:19:

In Reply to: Paying questions posted by cmo317 on February 07, 2003 at 08:40:47:

These 'lawyers' are most likely nothing more than collection agencies. They think its more frightening when you get letters and calls from a 'lawyer' than just a guy with so-and-so collection agency.

There is NO law that says you have to pay a collection agency ! We are forced into it because in most cases the original creditor (OC) has charged-off the debt and will not speak with you about it - they let the strong-arm CA's do that.

It doesn't matter who you pay, the negative items on your credit report will drop off in 7 years anyway - these 'lawyers' are not doing you any favors, there's no magic, its standard FCRA law and that's all. These debts have already been on your report for 2 years (at least). If you paid nothing, they would drop off your report in another FIVE years. Once you pay a collection agency, you end up with it on your report for ANOTHER 7 years, for a total of NINE !! Gee.. what a deal ! You see why we don't like paying these scumbags this way ????

The offer from this lawyer is no prize either. They'll go with the payment schedule (maybe) and in 6 months they bully you into paying the rest of the balance, if they don't conveniently 'forget' you had a payment arrangement before that and bully you sooner.

DO NOT pay them anything without a signed agreement, over the phone means squat to them.

You might want to read up on settlements and how they work at www.creditinfocenter.com. With these accounts already 2 years old, you could settle for far less than the full balance.

What state are you in ???

Follow Ups:

Post a Followup