I got a collection letter from Heritage out of New Jersey, I have to say that they were one of the most pleasant collection agencies that I have dealt with. I am posting this because they do not fit the norm in a few different ways.
1. There professionalism and friendliness was not expected, they actually was very cooperative when I said that I could not do anything until the end of the month, no pushing me to make a payment today.
2. They are willing to settle for 60% of the debt, I found this very unusual because normally they will want 80% in any type of settlement offer, at least with the collectors that I have dealt with.
We spend a lot of time bashing the bad ones, I have dealt with so many that are just down right nasty that I felt compelled to come on here and let you know that there are still a few descent ones left.
That is great to hear GN. I am glad there actually are professional in the debt collection field.
Well, that is good to hear. I like to a company prove themselves too by backing up their talk with a good walk. So keep us posted.
Bet you are anxoius to put this behind you. do you recognize the debt? I hope this time you can get a pay for delete.
actually it has never been on my credit report, it is fairly recent. They are offering me a settlement at 60% so I am gonna do it in one lump sum at the end of the month and be done with it.
Once I get into the month of September I will be done to my mortgage, car payment and utilities, I am going to start making principle payments on my car to get rid of the bill all together, I figure I can do a 5 year payment pending nothing else comes up. I think I have my past cleaned up, I think, I hope anyway.
That is more than what the industry standard used to be that is for sure, when I was settling out debt, it used to be 70 to 80 % of the original debt, you got a good break here right off the bat. that is good.
Hi goodnatured
Are you sure that you actually owe the debt. If you are sure, you can agree to this offer because settling at 60% is no doubt a good offer and that too before the debt is listed in your credit report. But if you are not sure that you owe the debt, send them a debt validation letter first before paying the debt.
Anthony,
I know I owe the debt, I have no question about it. thanks for the advice anyway.
Seems like you caught a hell of a break this, I would take advantage of it and pay it off, especially if you are not disputing the debt.
you say its usually 80 % of the original debt. Is this before all the interest fees and over the limits are added. Congrats on clearing up your past. I am happy for ya.
The collection agencies charge interest with the debt and that is the amount they demand from you or show up in your credit report. Most of them settle for 80% of the total amount they have demanded from you and not 80% of the actual debt.
Well at least its a little off the bill but that still could be a heck of a lot more then the original debt. I wish I could buy mine for pennies on the dollar like some of these collection agencies do and be done with it.
The actual debt amount was $1035 and they are willing to settle it for $615, there are no extra fees, this is the actual amount. So I think that this is a good break on this. I am however going to make sure that I get a pay for delete letter and a paid in full agreement before I move forward, I am going to take care of this at the end of the month, I have to contact them on the 23 of this month.
Sounds like a pretty good company. So your saying this is not over the limit and other stuff added in? If that is the fact thats just pretty awesome. I wish I could just pay debts off like that. It would take me months of saving being that we are down to only my hubbies income thesepast couple months.
yeah, that is the actually amount, that is why I want to get it all paid now, because if it would be another collection agency then they will start being stupid.
That would be a very wise thing to do. Can you not wait for the ball to quit rolling and be all past this. I know I would.
Collection can be a real pain in the butt, I have been stressed out, I know that you will feel good when this is out of your way, I hope you reach your goals that you state in your signature line.
Yes, of course I will be very happy to get rid of this, and this better be the last one!!!!!!!
Don't be so discouraged GN. Look back at all you have done to improve your score and your life. I hope this is the last one too. Just think of how nice your report will look in a little while.
yep, in about 3 years, hate to wish my life a way, but I can't wait to see them all fall off. I could just kick myself in the butt that I did not pay for delete.
If you settle out with a collector, does it start that 7 year reporting period all over again? or does it fall off after the original creditors date of last reported activity? some of them say "reported until XXXX, while others have nothing there.
I asked this one myself GN. It is 7 years fromthe original debt and not when you settle with a collector. So at least that is a good thing. I still have yet to see too much good in the pay for delete because rthe original creditor stays on for the 7 mandatory years regardless. Any Tom or Jack could figure that the debt would be turned over to a collection agency. So doesn't it look better if the collector is on their and being showed as a paid or settled debt? At least it would look like you took the effort and paid up.
I know what you mean, but I did not get any benefit by paying these off. I think there should be some type of reward for doing the right thing. What gets me is, the original creditor really never sees the money after they charge it off, it is some hungrey collection agency that pockets the bucks, so if I had it to do all over again, I would not have paid them unless I had a pay for delete agreement from both the original creditor and the collection agency.
we will see how nice this company is, I can only come up with a third of the $615 that they wanted, if they will take that and still give me the break then I will give it to them, if not then I will set up a smaller payment arrangement with them and take care of it over a longer term. Hopefully they will cooperate with me.
They will probably give you a payment arrangement that will suit them and you, it sounds like they were willing to be pretty cooperative with you in the beginning, we will keep our fingers crossed that they continue to be. goodluck, keep us updated on this. :(
I know where you are coming from GN. It is so hard to come up with any extra cash these days. It seems like my hubby is always working Overtime but by the time the check comes, especially with me barely bringing in any money, something happens and it is gone.
Last week was a really bad week. Two vehicles down that take moneyu to fix and my new home owners came in and they forgot to raise my deduct after bros accident to $1,000. So now I have to call (even though I did before the policy was up) and get it raised. It is almaost $800.!!!
Will they be able to take it off so that you will be able to pay a lower amount this time. That stinks right before winter comes.
Well the new policy doesn't start until Sept. I just was aggravated because I called becasue I new the renewal was coming up and they were suppose to make a note to raise the deduct. I am pretty sure I can get it raised. Its just annoying when you think you take care of something in advance and it was a waste of time.
They should have taken care of it for you, I hate it when they waste all your time and don't do what they are supposed to do.
Well they are gonna rewrite it. Man am I really A-G-G-R-A-V-A-T-E-D......Do you knw my policy is high because even after $20,000 in freaking concrete and a DEED not a Tilte they are still considering this mobile home. They said only one out of every five actually will be considered not mobile. There are all kinds of rules and permits you have to give the ins. company to get them to change it over and it usually still doesn't happen.
I live in a double wide, I know what you mean.
I just can't figure out how it can have a deed and not a tilte and not be considered a home. I am fighting it right now because I have electrical certificates and plumbing ones to. One my case settles if they don't give me MJY DANG discount I am bidding them fare the freaking well.
I would too, let me know how you make out.
I will. Are you tired of going back and answering posts yet? SDon't worry I will be off soon. Up bright and early for the Glass man.
No I don't mind, got about another hour before bed.
Must be nice. Here "we" can not go to bed with out the other. Need a tissue? I am sure you find that sooo special. At least someone does...
same here, it is like, go to bed already so I can have some peace and quiet, but then they get all pissy.
How very true. I usually hear..does that computer mean that much to you. Just once I would love to say yes....
yeah, until they are doing something they want to do, right.
Football sound familiar? Okay I am getting dizzy following you around. I see Lorri has come to play so I am going to let you two have a play date. No cookies without me though OK?
Football, baseball, nascar, you name it. Now it is the olympics.
Was..Aren't they over now? Do you notice any difference from the time you get off here until you get back on at the difference in your majic points? Last night I answered a couple extra to put my points to $52. It is only on$51.02 today and I answered a few to get it there.
yeah, I lost about $2, don't know what is happening, I think someone must be screening them and if they don't have anything to do with credit then the points are pulled, so don't get off subject I guess!!!!! I don't know for sure, just a wild guess.
At least I know it isn't some glitch. Probaly also alot to do with all this spam lately. Anyway we went to the fair this weekend and I seen the State rep.s office had a booth set up with info about identity frasud. There was a lot of good brochures there. I think it is great they are out there making more people awarre of this problem. It really seems as of lately PA has been stepping up to the plate in helping its residents. Pay day lenders wa an awesome start.
I think they purposely took them because of the off subject posts that is why we need to stay on credit, budget, loans, etc, LOL, I know we get carried away at times.
Thats what I was thinking. It is hard to not get carried away. Have you heard anything else from Heritage...original post?
Nothing right now, hoping they will accept what I am going to send them on friday.
Keep us posted. Good luck. Did you ever go to that deal or no deal audition?
Nope, No deal, and have not watched it since I came back either.
I would like to go on that show to and win about $80 thousand, I would have to leave and go home and pay my bills off.
Must be nice..that would just pay off my consolidated loan. I would have to add another $10,000 on top of it.
That would do mine plus have a few thousand left over, show me the money.