Help me out with my credit collector. (1 Viewer)

[MAC_32]

EDIT:

Also, the debt collection agency stated that they needed to have approval from the school for whatever agreement we came to. Is that true? Or were they just blowing smoke up my ###?

yes, and if their contract is anything like ours they get a fixed percentage of whatever is collected. Ours is 25% and it looks like that's about their deal too. If you settle for $500 then the school gets $375 and the agency gets $125. We will release transcripts with a settlement but you would need to pay everything to re enroll. Definitely get it in writing. I probably wouldn't agree to your settlement offer though. Unless I think the school may be partially responsible for your failure I don't consider settlements under $2k. Most $1k settlement offer rejections end up paying anyway.

 

[TxBuckeye]

2.) Tell them I need a written note stating my "debt has been relieved".

Tell them you want this first, then you'll pay... Tell them that's the only way, please record the call.

Are you serious? What moron would send a deadbeat a letter saying the debt is relieved BEFORE receiving payment? Oh wait, record the call. Disregard. I get it. <slow>

 

[doowain]

Ok,

So I have a little unpaid money from my first run at College. I owe Olivet Nazerene University:

PRINCIPAL: $760.26

COLLECTION COSTS: $253.39

TOTAL: $1,013.65

I spoke to the collection agency and they said they are willing to cut me an 80% deal full-payment of $810.92. Is anyone familar with collection agency practices? Is there anyway I could swing a lower deal than this? At this current deal, the Collection Company is really only making about $50 off of this account.

Personally, for having this account open for nearly 3-4 years a $50 penalty seems like a slap on the wrist. The school hasn't fully accepted this offer but I have a feeling they wouldn't object to it.

Thoughts? Does anyone on here have the scoop on this type of thing?

Tell them, "Times are really tough but I have $250 saved up toward new tires. That's all I have. Would you take that and call it good?"Don't send the money until they give you a signed document that says you owe nothing more and that the agreed payment is considered payment in full.

I'm not a lawyer but who cares, right?

This would be "Settled in Full", which is not the same thing. It would also be reflected that way on his credit report. SIF accounts are still a ding....although not as bad as outstanding charged-off accounts.

 

[Buffaloes]

Paying probably won't help your score and will in fact keep a black mark on your credit for 7 years after you pay. If you need the credits/transcript start by offering 30%. If you can up with the full amount they may do a pay for delete but that is becoming less common. Also it is best not to talk too much on the phone and never admit the debt is yours, just that you saw it on your credit report.

if you pay it in full or settle it there is no black market. it's done. but if you settle it, it will probably be indicated on your credit report. you can try to offer a 30% settlement, but you'll probably end up higher than that unless you have a decent hardship or it's an old debt nearing statute of limitations. i'm pretty sure if you make a payment toward the debt with no intention of payoff or settling it, then the statute of limitations clock restarts with that payment so you probably want to either pay it off or settle it and be done w/ it. if you payoff, I would recommend attempting to have it deleted from the report altogether. either way, get it in writing and make sure the details are correct prior to making the payment.

A paid collection is still a black mark. Just like a 90 day late is a black mark even though you eventually paid.

for some reason I read that a black market not black mark. I agree, it's still a black mark.

 

[Pipes]

Put me in the "pay your bills deadbeat" camp. I sympathize with people saddled with debt due to medical bills because typically that's not the debtors fault and our medical system and how much everything costs is way out of whack. However the rest of you deadbeats should just pay your damn bills.

 

[msommer]

Put me in the "pay your bills deadbeat" camp. I sympathize with people saddled with debt due to medical bills because typically that's not the debtors fault and our medical system and how much everything costs is way out of whack. However the rest of you deadbeats should just pay your damn bills.

And paying 760 bucks or a thousand to save 2500 is just common sense.

 

[Slapdash]

Only true way to escape this is to kill yourself.

 

[McGarnicle]

I owe Olivet Nazerene University:

Homosexuality

According to the 2009-2013 Manual of the Church of the Nazarene: "Homosexuality is one means by which human sexuality is perverted. We recognize the depth of the perversion that leads to homosexual acts but affirm the biblical position that such acts are sinful and subject to the wrath of God. We believe the grace of God sufficient to overcome the practice of homosexuality (1 Corinthians 6:9-11). We deplore any action or statement that would seem to imply compatibility between Christian morality and the practice of homosexuality. We urge clear preaching and teaching concerning Bible standards of sexual morality."[35]

Woody Webb, VP for Student Development, stated: “We want to talk about this issue with students, and we want them to feel safe doing so. If they come to us and want help understanding their same sex attractions, our offices are open. While we won’t help a student accept [his or her] same sex attraction and enter a gay lifestyle, if they realize that their same sex attraction is contrary to God’s will for them, we will walk with them on their journey.”[36] According to a controversial article published in the Olivet student newspaper, "f a student needs counseling and indicates that he or she is gay on the application... Olivet counselors are not permitted to counsel them according to University policy."[37] If a student is attempting to overcome homosexual tendencies, the University will accept them into counseling services. The only way that ONU will not accept a student into the counseling program is if the purpose of the counseling is directly related to accepting their homosexuality. In addition, if this is the case, Olivet will refer the student to an outside counseling agency.[38]

In March 2012, the Illinois Defense of Marriage Initiative visited campus, and advocated against gay marriage. That same month, Mike Haley, a motivational speaker and self-proclaimed reformed homosexual, spoke to students during the school's mandatory Chapel.[39] According to The Daily Journal "[t]his prompted members of an unofficial gay/straight alliance at Olivet to petition for tolerance and an open discussion about homosexuality."[40]

http://en.wikipedia.org/wiki/Olivet_Nazarene_University

 

[arrow1]

Thoughts?

Quit being a deadbeat and pay your bill?

 

[arrow1]

Put me in the "pay your bills deadbeat" camp. I sympathize with people saddled with debt due to medical bills because typically that's not the debtors fault and our medical system and how much everything costs is way out of whack. However the rest of you deadbeats should just pay your damn bills.

 

[E Street Brat]

I really didn't know you could ring up extravagant bills and just walk away from them like that...

New Here?

This is 'Merica #### YEAH!!!

 

[MAC_32]

Put me in the "pay your bills deadbeat" camp. I sympathize with people saddled with debt due to medical bills because typically that's not the debtors fault and our medical system and how much everything costs is way out of whack. However the rest of you deadbeats should just pay your damn bills.

Speaking of medical bills, where's the incentive to pay those? We have $3500 dating back to 2012. I tried to setup a payment plan, but their billing department never followed up to my several inquiries so when the collections agencies started calling I put them on the ignore list. We refinanced our house last year when interests rates were at those crazy low's and I figured we'd get rejected because of it but it came back clean. So, if this isn't impacting our credit score where's the incentive to pay? We're almost completely out of non mortgage debt (probably by the end of summer), but before we upgrade the car I want to know what I need to do about this.

 

[Zow]

EDIT:

Also, the debt collection agency stated that they needed to have approval from the school for whatever agreement we came to. Is that true? Or were they just blowing smoke up my ###?

Assuming they haven't purchased the debt outright, they likely would.

 

[Godsbrother]

If you have the $800 just pay and be done with it.

 

[MCguidance]

I will chime in as I am in a similar situation at the moment.

Three years ago I was scooped up off the street in a semi-dazed, bloody condition by ambulatory men. They packed me into the back of a van and shot me up with drugs until I passed out. Shortly after, I was deposited into a cheap, no insurance hospital.

Explain.

 

[Henry Ford]

Put me in the "pay your bills deadbeat" camp. I sympathize with people saddled with debt due to medical bills because typically that's not the debtors fault and our medical system and how much everything costs is way out of whack. However the rest of you deadbeats should just pay your damn bills.

Speaking of medical bills, where's the incentive to pay those? We have $3500 dating back to 2012. I tried to setup a payment plan, but their billing department never followed up to my several inquiries so when the collections agencies started calling I put them on the ignore list. We refinanced our house last year when interests rates were at those crazy low's and I figured we'd get rejected because of it but it came back clean. So, if this isn't impacting our credit score where's the incentive to pay? We're almost completely out of non mortgage debt (probably by the end of summer), but before we upgrade the car I want to know what I need to do about this.

So that they don't sue you?

 

[MAC_32]

Put me in the "pay your bills deadbeat" camp. I sympathize with people saddled with debt due to medical bills because typically that's not the debtors fault and our medical system and how much everything costs is way out of whack. However the rest of you deadbeats should just pay your damn bills.

Speaking of medical bills, where's the incentive to pay those? We have $3500 dating back to 2012. I tried to setup a payment plan, but their billing department never followed up to my several inquiries so when the collections agencies started calling I put them on the ignore list. We refinanced our house last year when interests rates were at those crazy low's and I figured we'd get rejected because of it but it came back clean. So, if this isn't impacting our credit score where's the incentive to pay? We're almost completely out of non mortgage debt (probably by the end of summer), but before we upgrade the car I want to know what I need to do about this.

So that they don't sue you?

That's really it, isn't it? Based on what I know about collections thresh holds I think we're under it. Might be close though. Eh, I can use my go to hell fund then replenish it after debt's paid off this summer if we do get anything I guess.

 

[Psychopav]

Why don't you just wait 6 months then pay for your house in cash with your stock market earnings?

 

[Wingnut]

If you pay the collection agency, make sure you demand a Pay for delete deal...get it in writing...when you pay, they delete it from your credit report(s).

 

[jon_mx]

If you have the $800 just pay and be done with it.

He would have to liquidate all of his holdings in Walgreens to accomplish this. I am not sure the stock market could handle such. I am hoping he will phase his sale in numerous transactions spread out over months as to not drive the price of the stock down too far resulting in a panic.

 

[DSP]

If we all just stopped paying bills we would finally see some change In this capitalist slave country

#### them. This world is free

 

[towney]

Depending on if/when it showed up on your credit report, it might make more sense to just ignore it. After 7 years it disappears.

It might have reset the clock back to 0 if he is in contact with collection company.

 

[Dr Oadi]

I owe Olivet Nazerene University:

Homosexuality

According to the 2009-2013 Manual of the Church of the Nazarene: "Homosexuality is one means by which human sexuality is perverted. We recognize the depth of the perversion that leads to homosexual acts but affirm the biblical position that such acts are sinful and subject to the wrath of God. We believe the grace of God sufficient to overcome the practice of homosexuality (1 Corinthians 6:9-11). We deplore any action or statement that would seem to imply compatibility between Christian morality and the practice of homosexuality. We urge clear preaching and teaching concerning Bible standards of sexual morality."[35]

Woody Webb, VP for Student Development, stated: “We want to talk about this issue with students, and we want them to feel safe doing so. If they come to us and want help understanding their same sex attractions, our offices are open. While we won’t help a student accept [his or her] same sex attraction and enter a gay lifestyle, if they realize that their same sex attraction is contrary to God’s will for them, we will walk with them on their journey.”[36] According to a controversial article published in the Olivet student newspaper, "f a student needs counseling and indicates that he or she is gay on the application... Olivet counselors are not permitted to counsel them according to University policy."[37] If a student is attempting to overcome homosexual tendencies, the University will accept them into counseling services. The only way that ONU will not accept a student into the counseling program is if the purpose of the counseling is directly related to accepting their homosexuality. In addition, if this is the case, Olivet will refer the student to an outside counseling agency.[38]

In March 2012, the Illinois Defense of Marriage Initiative visited campus, and advocated against gay marriage. That same month, Mike Haley, a motivational speaker and self-proclaimed reformed homosexual, spoke to students during the school's mandatory Chapel.[39] According to The Daily Journal "[t]his prompted members of an unofficial gay/straight alliance at Olivet to petition for tolerance and an open discussion about homosexuality."[40]

http://en.wikipedia.org/wiki/Olivet_Nazarene_University

An d your point is?