Collection agency requesting post dated checks
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.
Mon Nov 10, 2008 12:11PM by Tony | More in Debt Relief | Comments (0)
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