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Hello,
I was charged off by a credit card company,
A collection co. contacted me
what procedures should i follow:
1. do i make an agreement to pay them
2. should i seek legal advice
Thank for help in this matter,
charged off
do i make an agreement to pay them
Don't rush to get into any agreement right now.
The first thing that you should do is to make sure that you identify this debt. Do you actually owe this amount?
In case you don't, please forward a debt validation letter to the collection agency.
Sure Luck, Make sure you read through some o the posts here before making any quick decisions. First is the debt validation process but there is so much more. If the creditor does validate then you may want to try and settle the debt for less..this is called debt settlement. You can also do a pay for delete , if they would agree to one. Let us know if this debt is yours or if you recognize it.