answersLogoWhite
Repossession
Credit Reports
Debt Collection

If the account was sent to a collection agency who is demanding full payment what can you do to get it back where you can make payments?


Top Answer
User Avatar
Wiki User
2015-07-16 19:22:59
2015-07-16 19:22:59

Unfortunately, what YOU want doesnt mean much to the lender. THEY want their money and they have LEGAL options to obtain that money if you have it. Remember when you wanted that car??? You agreed to certain things in the contract you signed. Maybe you didnt read them, but you agreed to them. You need to get ready to make CHANGES to how you handle this account. Good Luck.

Contact your lender and arrange payments. Was your vehicle taken?

Thanks for everyone's responses. To roosta: thanks for your message but next time if your going to leave a message maybe you should leave a useful answer to the question. Please don't waste your time with a nasty response.

I did contact the lender (53rd bank) many times. They won't talk to me and refer me to an outside collection agency. Here, let me explain the situation in the past: the 53rd bank collections department (not this collection agency) always worked with me to arrange payments. They sometimes sent the account to the collection agency who would typically call for 2 weeks "and then" the account would go back to the 53rd bank collections department. The collection agency always demanded for full payment of what was "only owed at the time" to get all caught up. This time the Collector has the account for 2 and a half months and he is offering a price break if I pay in full. Has anyone gone through this? Anything I could do to get the account back to the bank? Thanks.

Related Questions

User Avatar

after 180 days of non payment your account will be charged off and turned over to collection agency

User Avatar

If you don't pay your credit card you will get a nasty call from a Collection Agency demanding immediate payment.

User Avatar

The balloon payment calculator takes into account your balloon payments, or your large usually last payment of your loan, and meshes it with your current loan and additional payments.

User Avatar

Send them a certified letter demanding that they stop, and further demanding that they only contact you via the mail. Advise them that they will be in violation of the Fair Debt Collection Practices Act if they do so.

User Avatar

In order for a business to accept credit or debit card payments on their website, they must set up a merchant account. This is a bank account specifically used to accept those types of payments. In order to accept payments, a business must have a payment gateway. A payment gateway makes it possible to securely transmit data between the business' website and their merchant account.


Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.