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resold debt

What do you do if you want to pay off old debt, but the people who bought your debt only want one big payoff?

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Asked by Anonymous at 9:20 PM on Jun. 11, 2009 in Money & Work

Answers (1)
  • Inform them that refusal of ANY payment will look very bad on them. We had a similar issue and, fortunately for US, we found out that if they REFUSE payment they are denying that you have any debt with them. It was interesting when the collections agency took us to court and we handed the actual phone transcript (send to us BY THE COMPANY who hired the collections agency) to the judge, showing him where they DENIED a payment. The court ruled in our favor and cited that we owed no money. We have the court degree framed in my office.

    I would tape record the phone conversation (informing them that it IS being taped) and be sure to inform them that you are attempting to make a payment on a debt. But you may want to check your state laws regarding debts before hand.

    Answer by Anonymous at 9:43 PM on Jun. 11, 2009

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