Re: Charged off accounts

Posted by JKelly (141.151.58.142) on July 24, 2004 at 19:52:00:

In Reply to: Charged off accounts posted by Need Help on July 24, 2004 at 19:39:26:

We don't recommend paying CAs. They buy the account for pennies on the dollar. Continue to add interest and then try to collect on all of it.

But, yes, CAs have the legal right to collect on a debt if they follow FDCPA and it is within the SOL. However, their is a lot of psychology in debt collection. CAs will lie and threaten, in order to scare you into paying them. Truth of the matter is, they don't usually do much else.

I would suggest that you lay low, IGNORE CAs and let the SOL run. They will give up and move onto easier targets if they can't harass you.

Paying a CA will do nothing positive for your CR either. Change your phone number, let the machine pickup, watch caller ID, whatever works for you.

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