“Dear Steve,
I owed R.C.Wiley $12k + had a medical situation happen and quite paying them and paid the medical . Big mistake ! Anyway they turned it over to collection law firm. I have been making quaterly payments on the $12K for 2 years and have paid the law firm over . The original amount was $8,950 but the law firm added interest to total the $12 k .I have paid to date $3,500. to them. I talked to a manager today and he told me the balance was still the $12K+ . They reported to my 3 credit reporting companies that inNov I owed $5345.00 and then again in Sept.That I owed the law fir $4,950. I made a settlement offer to them today of $2,800 . paid in full on April 1st since I get paid every 3 months .
My question is can they use the original amount of $8,900 or the balance back in 2011 of $12+k to base their payoff on or the $4900+ that they reported to the credit bureau’s ?
2. He then said he would let me know if they would accept that amount of counter and that they would more than likly counter but that I still owed the $12K per them and the other statment was they would remove the degroggatories on my report . How can they do that . What should I tell them if they come at me with the $12K and or the $8,900.
Hope this makes since
Thanks for your help
John”
Dear John,
The reality is that the original agreement you signed with RC Willey for furniture would contain details on what the default terms were. I would imagine they included late fees, increased interest, and tacking on the cost of outside collections.
The number reported to the credit bureau is mostly meaningless. While it should be accurate, who really knows. However, asking for a clear accounting of how the current balance was determined, is a reasonable request. You can see more about debt validation in this post.
Frankly, I wouldn’t do anything till you get a complete accounting of your account balance. RIght now I don’t think either of us have a clue on what they are stating.
I’d call the collector with a friendly attitude and just let him know you were talking to a financial counselor who was helping you and wanted to see a statement on this account that showed how the current balance was derived. Put the blame on me for asking for this statement so you don’t feel like it’s a battle between you and the collector.
Once you get it or they fight you on this, update me below.
Please post your responses and follow-up messages to me on this in the comments section below.
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Well Steve this just keeps on going. In June of 2011 ,I recieved the account from R.C. Willey amount owed $12,803.90 to AcctCorp of Southern Nevada . I started paying them every 3 months as that was how I got paid. I paid a total of $5,100. to them on the debt.Worked with a very good person named Bridgett. Then in Oct of 2012 I got a call from ACCTCORP a lady named Lisa called . I called her back Bridgitt was gone and so I over the phone paid her $525.00. She got all excited before I made the payment and said I was a good payer and she would see if they would settle the debt. She would call back the next day with their offer.I called the next day and left a message . On the following day I called and sent an email to her . I can send these to you. Never heard another word or call from her. On January the 15th I called to see if first I could make a payment and 2 if she had any information on our Oct discussion of a payoff/settlement . She said she would get back to me that afternoon . I waited and no call. On the 17th of Jan I emailed her waiting to hear back No response. I emailed her again on the 21st ,no response so I called and asked to speak to a Supervisor on the 21st a Mr. Kaplan. I explained the entire course of events and promised he would call me back that afternoon or by the end of the week. I never heard from him again so called on the 28th of Jan and left him a message. Still have not heard from him. On the 26th got a message from Lisa again , called her back same day left a message and have not heard back from anyone with AccCorp of Southern Nevada. I have no idea what to do now ! Oh and they continue to report to the credit agencies. What do I do.
Best John
John,
Unless you have the settlement offer in writing, you’ve got nothing. It’s a fairly common collector tactic to make such a promise and then here the person is gone or did not have the authority to make such a promise.
If you’ve tried communicating through casual channels It’s probably to send your concerns and questions by certified return receipt mail to document they received your letter.