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Can you use a debt relief agency to settle the deficiency balance?
Wiki User
∙ 16y ago
Here is my disagreement with this type of service. If you do some research yourself, you will realize that you do not need to pay for this type of service. Settle an account on your own if you feel comfortable. Always pay either .10 on the dollar, or settle with a creditor for 30% of the balance owed. Make sure you get everything in writing before making that final settlement payment. Then update this information with the bureaus.
Wiki User
∙ 16y ago
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Can i deal with collection agency to pay just the original balance?
yes. or you can settle for less but remember to work out a pay for delete. be sure to get the arrangement in writing.
Is it better to settle an account in collections or pay it in full via monthly payments?
Personally speaking, it is better to settle with a collection agency rather than making monthly payments. Theres only one ceveat....you must pay the collection agency in full. Example, lets say you owe $1000 to a credit card company. A collection agency will say, pay $600 NOW and this will settle the balance. So, if you dont have $600, its a 'catch-22'. You are better off making the monthly payments until the $1000 is paid.
Why did Nissan choose sunderland to settle?
There was a readily available workforce and tax relief and subsidies were offered.
I am currently and have been paying faithfully a collection agency 50.00 a month to settle a medical debt. The agency is now threatening to garnish my wages for more. can they do that.?
NO. If you are paying a little at a time they can not garnish wages. The collection agency can not garnish your wages.The only agency that can do that is the Internal Revenue Service. It is better to pay the account in full when settleing a debt it show's on you credit report that you took a settlement. 50.00 a month try that toward your outstanding balance and pay more if you can.
How does a collection agency determine how much money they will settle a debt for?
a collection agency will usually take up to 30% off a debt but only if it is over $500 i once owed $5,300 on a returned vehicle and they were willing to take $3,100 but you can hustle your amount owed. all they want is some of the money anyway. There is no specific set amount. You must negotiate with the collection agency. They will settle for whatever they can get in many circumstances.
Can i deal with collection agency to pay just the original balance?
yes. or you can settle for less but remember to work out a pay for delete. be sure to get the arrangement in writing.
Is it better to settle an account in collections or pay it in full via monthly payments?
Personally speaking, it is better to settle with a collection agency rather than making monthly payments. Theres only one ceveat....you must pay the collection agency in full. Example, lets say you owe $1000 to a credit card company. A collection agency will say, pay $600 NOW and this will settle the balance. So, if you dont have $600, its a 'catch-22'. You are better off making the monthly payments until the $1000 is paid.
Should you pay a collection acct that has had no activity for over 2 and one-half years or dispute it in hopes that the agency has purged it from their records?
There is no way to predict what will happen in your specific case. But, generally, collection accounts are not only active after 2.5 years, but get sold to other agencies and show in a duplicated manner on your credit report, often with double the deficiency balance showing. It is always in your best interests to pay what you owe, or settle the account.
What do I do after a collection agency sues me?
Once a collection agency sues a person they may have to get an attorney and go to court to settle this. The agency wants you to pay the money you owe them however they can get you to do it.
Why did Nissan choose sunderland to settle?
There was a readily available workforce and tax relief and subsidies were offered.
Is it legitimate if a collection agency sent you a letter stating that their client would settle for a certain amount if paid by a certain date and they want you to fax the letter to them?
Before making any commitments to a collection agency, you should get confirmatio from the original creditor that the collection agency has legal authority to collect at settle the debt.
Can you settle for less in a collection agency?
Yes, sometimes a collection agency will let you settle for less than the total amount owed on the debt. Most times this means they will want all the money in one, two, or three large payments.
I am currently and have been paying faithfully a collection agency 50.00 a month to settle a medical debt. The agency is now threatening to garnish my wages for more. can they do that.?
NO. If you are paying a little at a time they can not garnish wages. The collection agency can not garnish your wages.The only agency that can do that is the Internal Revenue Service. It is better to pay the account in full when settleing a debt it show's on you credit report that you took a settlement. 50.00 a month try that toward your outstanding balance and pay more if you can.
If you have been served a notice of deficiency for a delinquent auto loan you cosigned on will the bank settle?
Make them a REASONABLE offer. All they can do is say no.
What did the british trade with the china to settle the unfavorable trade balance?
porcelain, exotic tea, and silk.
What did the british trade with china to settle the unfavorable trade balance?
porcelain, exotic tea, and silk.
In regards to the question if you volunteer a reposession do you have to pay off your car loan what happens if you can't pay that balance?
Voluntary RepossessionOnce this vehicle has been auctioned off, the remaining balance that is left on this loan will be your responsibility to pay off. You can contact this collection agency once you receive a new statement of this balance. Usually the two options that you have is either make monthly payments or you can negotiate a settlement. Your best bet is to save anywhere from 30-50% of the remaining balance, and settle. Get everything in writing before making a final payment.
