Be careful, especially with 800 #s ...

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Posted by Christine Baker on November 15, 1998 at 15:09:28:

In Reply to: Re: Need advice or professional help in negotiating a settlement with Toyota posted by crash22 on October 31, 1998 at 14:25:23:

A word of caution:

Creditors and collection agencies don't HAVE to take anything less than the entire amount owed + interest.

If you call their 800#, they'll get the number you called from even with caller ID blocked.

Once they have your address, they can run your credit, get your current employer, garnish your wages ....

Sometimes it's possible to negotiate the removal of the collection from your credit report. Obviously, they'll have to report it as paid, but that won't improve your Credit Scores.

Get EVERYTHING in writing before you send your check.

Good luck, Christine

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Comments:
: A word of caution:

: Creditors and collection agencies don't HAVE to take anything less than the entire amount owed + interest.

: If you call their 800#, they'll get the number you called from even with caller ID blocked.

: Once they have your address, they can run your credit, get your current employer, garnish your wages ....

: Sometimes it's possible to negotiate the removal of the collection from your credit report. Obviously, they'll have to report it as paid, but that won't improve your Credit Scores.

: Get EVERYTHING in writing before you send your check.

: Good luck,  Christine



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