Negotiate a Debt Settlement
need advice-negotiated on a settlement?
I made settlement with a collection agency on a debt that was for 1300. the settlement is for 800. the people there actually didnt give me a hard time, I have to send this payment out overnight, I am sending them a money order. Now i am waiting for them to email the settlement letter. I have not recieved it yet, the supervisor said i would have it, which was an hour ago. Is there anything i can do to protect myself if i send out the payment without getting the letter. Is there anything i can write on the money order or maybe write up a letter saying this is part of our agreement? would that be enough proof of our agreement if i never get there letter just in case this comes back to haunt me. any suggestions? Please help i need advice.....
Public Comments
- YOu can write "Payment in full" on it next to the endorsement line; but it won't absolutly stand up in a court of law. Have them e-mail it or fax it; without that agreement, you have nothing to stop them from coming back for the balance
- Call her or email her back and tell her you have not received the settlement letter. I would not overnight them $800 without having that letter in hand. What's to stop them from applying that to the $1300 and billing you for the remaining $500?
- i did that one time. make sure you have agreement in writing, or you WILL get a letter demanding the balance of debt. call them back soon, BEFORE you send check or money order.
- Settling is a 50/50 partnership - no matter what the circumstances. I would of requested them to fax you the settlement letter as part of their demand and you in turn fax them a copy of the money order your going to overnight. If they agreed to settle the debt they should not hold your letter hostage and show some professionalism.
- I would not sent the money without having the settlement in writing. If they have no e-mailed it yet I would call and check on the status. But without the agreement in writing you would have no way of proving it was offered to you in the first place.
- Only send payment with a letter in hand-period.
