Bad Credit? - Repair it here yourself!

There're many reasons you may want help for bad credit. We're here to help you understand what affects credit, what makes credit bad, how and what entities define your credit, guide you through the credit definitions, financial concepts, common misconceptions and provide you with information and tools that will help to solve your credit problems. Get help for bad credit now! To achieve this, we provide you with Free Access to a wealth of credit related content, forms, tools and calculators. We show you how to improve your bad credit step by step, reestablish your ability to borrow monies, how and where obtain loans, credit cards, mortgages and other financing. Repair Credit now!

Collection agency requesting post dated checks

Mon Nov 10, 2008 12:11PM | By Tony

See more in Debt Relief | Permalink | Email | Comments (0)

Q: I am in process of settling with debt collection agency for $2,100 payment on what used to be a $6,900 plus credit card debt. The collection agency wants me to send 7 post dated checks for $300 each to withdraw from checking account every 3 weeks. I refused, they say at the very least to keep this settlement, I should send them the latest statement so they can verify I have funds. Should I do that?

A: No. Don't send them anything but a money order. Post dated check is a sure way into trouble, and any bank account statement isn't far behind. Such checks are always cashed by debt collectors too early and often, resulting in such a grief, it won't be funny. You can end up paying more than you originally settled for, and then, try to get your money back. So you are absolutely right on not giving them post dated checks. Do not send any account information, period. They are simply trying to scare you. They will take the settlement, believe me. Tell this collection agency, it is money orders only or nothing.

Post a comment

Name:

Email:

URL:

Remember personal info?

Comments:

Please enter the code as seen in the image above to post your comment: