Don't let yourself get BSd.............

[magyar123]

....into making "phone payments" to creditors or their collection goons.
Last Thursday, August 9, I was contacted by a collection agency offering me a 75 % settlement of a debt. Told rhem I'd accept their offer IF I GOT SOMETHING FROM THEM IN WRITING, and once I receive their written offer would send them a money order. She said this offer expires on Friday, August 10, and that a piece of mail would take at least up to 5 business days to get from New Jersey to California, that I should make a payment over the phone by giving them my banking information, ABA/Transit #, and my account #.
When I asked her to fax me this settlement offer, she BSd me again that their faxes were "down". blah, blah, blah.
I really don't believe that this was a legitimate agency.
I told her to shove it up where the sun don't shine, and to what Vice President Cheney told a senator on an open mike on the senate floor a few years ago.

[JRScott]

Good for you

Yep if you don't get it in writing its not a deal

You did the right thing

[treehugger1]

I can only agree. No written contract, no deal. It even sounds as if they were testing the waters, "Yeah, I can pay 75% if you send me the written contract." Be very careful as this is another way for creditors and/or collectors to get a sense of your immediate financial picture. As some advice, modified from Hogan's Heroes, "Tell them nothing." If they call again, agree to nothing on the phone, but you would certainly take a look at any offer they wished to mail to you.

[sara4]

Way to go magyar123!!! You gave them the best answer. One all of us can remember or have thought a time or two!! Good for U!

[dscurlock]

Good for you

Yep if you don't get it in writing its not a deal

You did the right thing

maybe i did not do the right thing then...
I was given the same deal but by AT&T
your friendly phone company, I was
told they would reduce debt if i paid NOW, but when i asked
for it in writing, they said no, we will send it
to you in writing 30 days after payment clears.,
well its been nearly 3 months now, and still nothing in writing,
I do not see it on one credit report, but that doesnt mean its
not on the other two, oh well, lesson learned....

[JRScott]

maybe i did not do the right thing then...
I was given the same deal but by AT&T
your friendly phone company, I was
told they would reduce debt if i paid NOW, but when i asked
for it in writing, they said no, we will send it
to you in writing 30 days after payment clears.,
well its been nearly 3 months now, and still nothing in writing,
I do not see it on one credit report, but that doesnt mean its
not on the other two, oh well, lesson learned....

You should always get it in writing, its a CYA situation. With it in writing if anyone later comes up and claims you owe it you have it in writing that you were offered a settlement and then can show the receipt where you paid it. Otherwise the more unscrupulous ones can argue you only made a partial payment. I'm not sure you'll have to worry about ATT though.