Posted on
June 4, 2009
at
4:11 am
can debt collectors actually do that?
Posted on
June 4, 2009
at
4:48 am
Debt collectors are not obliged to receive your payments or any agreements that are initiated by you. After all some people think that creditors and collectors cannot legally refuse payment from you--you might be thinking that after all, it would be their loss. In the same way, just because they refuse your payments doesn't mean that the debt is discharged and you have less to worry about.Check your state's Statute of Limitations before making any payment arrangements with them. A statute of limitations gives the creditor a limited amount of time (typically three to six years) before they choose to take legal action to the debtor due to non-payment. In the event that you do decide to make a payment offer with them, put the agreement in writing.
Posted on
June 4, 2009
at
4:54 am
there are also certain instances that debt collectors would refuse payments. in my experience these guys would rather have you pay either the full balance, a post-dated check, an electronic payment, or an extorbitantly high settlement offer. they tend to push you into giving them your checking account information, and refuse to accept a minimum payment, or a payment sent thru the mail. they may coerce you into doing it their way, but that isn't really a good idea.i agree with karess, writing them a letter will help ,and will show that you have good faith in taking care of your account. in the event that they decide to bring you to court (and i hope that doesn't happen), you can use that document as proof of your good-faith
Posted on
June 4, 2009
at
5:00 am
Mind you, creditors are also not compelled to receive your payments. If your account isn't been in collections yet, they can still--and usually are willing to work with you to set up a repayment. In the event that they do refuse payment, it may be because their cmpany policies disallow these. Sounds weird, but it's true. You can try to make offers for them, and if they respond negatively, ask how much would they like to receive as an acceptable payment.
Posted on
July 24, 2009
at
8:34 pm
That is only partly true.Debt collectors are obligated to accept the full settlement of a debt. If you owe $100, and pay the $100 in full, the debt collector must by law accept the funds and update your credit report. However, if you just send $10 with a promise to pay $10 more a week for 10 weeks, the collector does not (and usually) will not accept it.Make sure any funds you send the debt collector are from certifiable sources (ie. postal money order (save the recepit) or better yet a cashier's check) and send it signature required either USPS, UPS, or FED-EX.
