Appears I originally put this in the wrong forum. Sorry.
I recevied a call from a collection agency indicating they had a very important matter to discuss. In calling them back, they indicated that they have a debt in my name for approximagely $8600 from a HSBC credit card account. I indicated I had not idea what they were talking about as my wife handled all the bills. They indicated they could settle outright for $6000 or $3500 and setup a payment plan. I indicated I would have to get back to them to research the problem.
I of course do not have that kind of money laying around. After discussing the situation, we have indicated we are not able to pay either amount up front but could pay a 250 monthly payment. They still indicate they need the "good faith money" to bring the account current and basically denied my offer.
They have indicated they need some sort of answer by this Friday (Aug 21) or my case will be submitted for legal action by the end of the month.
I am not trying to get out of the debt, as I do owe it. But at the same time, I don't have the up front money and don't want to have legal action taken.
Any advice would be greatly appreciated.
Hi coreyj
Maybe you could try and talk to someone superior in the company who may be willing to help you out. Not all collection agencies are in-cooperative. But remember not to lose your cool. Be polite with them when speaking. If you are rude or angry, it will only worsen things.
Corey,
sometimes when collection agencies first start trying to collect on a debt they ask for a good faith payment in the high end. If you insist you do not have this money then hopefully after a little time they will set you up on a repayment plan without such a large down payment.
I do wonder since you are dealing with a collection agency if you ask for debt validation. You need to do this by certified mail to be sure that they legally own the debt and can legally collect. There are sample letters here at this forum. Let us know if you are intersted.
I do wonder since you are dealing with a collection agency if you ask for debt validation.
Firey, since Corey has already agreed to the debt
I am not trying to get out of the debt, as I do owe it.
it seems, there is no point in asking for a debt validation. However, if he still wants a detailed break up of the debts owed he may then ask for validation.
I guess a little persuasion should help Corey with the collection agency.