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I Owed RC Willey But Had to Quit Paying Them. – John

“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,

Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.

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.

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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.

Damon Day - Pro Debt Coach

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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