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What do you do if you have made payments to a CA who closed the account and the new CA says it will not accept partial payments or a payment plan?

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Wiki User
2006-09-12 11:30:52

They're playing hardball with you. A collection agency buys a

debt for pennies on the dollar and earns money by trying to collect

on that debt. Any money they receive over the amount they paid for

it is income, so some collection agencies will be very aggressive

-- sometimes even illegal and intimidating -- in an attempt to

collect. Play hardball back. Be adamant in explaining to them that

you were working with the last agency sepcifiacally because you

didn't have the money to pay the full debt. Tell them they can work

out a payment plan for a portion of the money or they can accept

nothing. Imply that you're already working with an attorney on

filing bankruptcy. This is usually a game. They demand a sum, you

counter. They make another offer. You make yet another. They want

the most they can get from you; make them work for it. And know

your rights. Check out the Fair Debt Collection Practices Act


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