Collection agencies don't accept mailed payments????

[MISHA228]

I just got off of the phone with a collection agrency.

The original credit card bill was with Capitol One. They refrerred it to collection and that collection agency referred it to another who then referred it to the company that I just spoke with. I haven't received any correspondence from this CA but I knew that I owed Capital One some money so I tracked the bill down.

Well I only wanted a mailing address and acct no. to send my payment. They wouldn't give it to me and tried to offer me a settlement by phone. I asked for the settlement in writing. They said it's only binding if I accept it by phone and give them a posted dated check via phone also. I told them I didn't have the money at the time (I am borrowing it from a friend) and I need something in writing because I would feel more secure seeing this agreement in writing and sending in a money order. They said they don't accept money orders or paper checks. Period! Of course they started the intimidation mess (I had to keep reminding them that I called them!!).

They finally agreed to send a letter with the FULL amount owed but I would still have to CALL to make a payment. I am still going to send back a settlement offer. The bill is only $900.

I asked them since when don't CA accept paper payments. Of course his repsonse was January 1, 2007.

Has anyone ever heard of such a thing? So they would rather get no payment than a money order or paper check?

[IHateCAs]

So what kind of payments do they accept?

[IHateCAs]

I think they are lying btw, they just want to impulse you into a check by phone.

[IHateCAs]

So I guess they don't accept payments from people without checking accounts.

[avenger]

Don't pay them by phone. They'll take 2-3 times what you authorize. Only pay them by mail and by money order or cashiers check. Any and all communication should be in writing when dealing with a d.c.

[ms6073]

Never, ever, under any circumstances give a debt collector - or anyone you do not know personally or with whom you conduct regular financial transactions - access to your checking or savings account. Even if they do accept a personal check via US Mail, they can simply draft funds electronically based on the MICA data (routing and account numbers) that are imprinted on the check - same thing Walmart does when customer writes a check.

If a US Postal Money Order mailed to the collection agency is not sufficient, then that CA does not need your money bad enough! Keep in mind that a CA rep is like any other commission salesman - he or she gets paid on volume ($$ collected each day) and as previously mentioned, is trying to intimidate you into an impulse decission. It may not seem like it but you have the money and thus are in control - if CA wants to yell and act badly, then let them talk to a dial tone!

[kevin3344]

That's funny, of course you probably could have Google'd them and found out the address that way. You can find anything on the internet lol.

By the way, I would never willingly pay anyone. Why DV them first? If this has gone from CA to CA, I would try that first then if it doesn't work, take other steps to pay it.

________

MissLYUBA

Edited September 9, 2011 by kevin3344

[LadynRed]

CA's will always demand payment by direct draft from your account, and they will almost always refuse anything by mail. They want instant access and they will try to pressure you on the phone to do something you know in your gut is the WRONG thing to do -just to make them go away !

IF you are going to pay a debt collector via a bank account draft, make sure it is a separate account, in any other bank but your own, and make sure that they ONLY money in that account is the payment that's due - nothing more, nothing less.

No matter what you ultimately decide to do, DV them FIRST, and do not pay them a dime until you get an agreement IN WRITING first, signed by someone with the actual authority to make the agreement.

[rm2738]

Keep in mind that a CA rep is like any other commission salesman - he or she gets paid on volume ($$ collected each day) and as previously mentioned, is trying to intimidate you into an impulse decission. It may not seem like it but you have the money and thus are in control - if CA wants to yell and act badly, then let them talk to a dial tone!

I agree with that. If they don't collect your money right then and there, your file more than likely goes back into an automated dialer and some other rep may get the chance to call you again and if they collect then they get paid. If you mail it then there is no commission to be paid because there is no telling what rep actually got you to pay the debt.

[MISHA228]

Oh I certianly wasn't about to give them ANY bank info. The manager/supervisor started getting irriatated because I wouldn't give in. He finally said, after huffing and puffing, that he would mail me a letter with the FULL payment due. I told him I just needed something stating I owe them money and how much and what for. I guess this was a verbal DV.

I am totally not intimidated by collectors.

I wonder if I should still dispute the debt just because.

Oh yeah, I did try to google the CA but I got so many search results and none seem to match a collections agency.

I also tried to google the phone number and do a reverse phone number search so I just went ahead and called. But no one would just give me a mailing address and that's how I ended up getting into it with the folks on the phone.

[IHateCAs]

Just wait for that letter.

[Methuss]

As I recently found out in dealing with my own bank ACH withdrawls are really hard to stop or reverse. So NEVER give your checking account info to a debt collector.

If they take too much you can only get it reversed if you catch it within 24 hours of the withdrawl. And once they start making withdrawls, the only way to stop the withdrawls is if your bank monitors your account daily and stops the ACH payments when they are attempted. Expect a bank to charge you fees to expend that much resource in monitoring your account.

Oh, and for the OP, it is illegal for a debt collector to ask for a post-dated check where the date on the check is more than 5 days from the day they ask for it.

One more thing about post-dated checks... DON'T. Federal law says that banks do not have to limit processing of checks based on the date written on the check. Checks are on-demand instruments. The date is only for your reference and has nothing to do about limiting when it can be honored by your bank. So even if you post-date it, they can cash it at any time and the banks will merrily process it and OD your account. With Check21 now in full swing, a check can be processed within 24 hours of being endorsed to a bank. Yes a debt collector is in violation of the FDCPA if they cash a post dated check early, but you have to sue them for it. It won't stop the processing of the check.

[momof5]

For the OP....

Mail a money order and see if they don't cash it! LOL

They will.

On the other hand....I NEVER pay a CA. Period.

[MISHA228]

As I recently found out in dealing with my own bank ACH withdrawls are really hard to stop or reverse. So NEVER give your checking account info to a debt collector.

If they take too much you can only get it reversed if you catch it within 24 hours of the withdrawl. And once they start making withdrawls, the only way to stop the withdrawls is if your bank monitors your account daily and stops the ACH payments when they are attempted. Expect a bank to charge you fees to expend that much resource in monitoring your account.

Oh, and for the OP, it is illegal for a debt collector to ask for a post-dated check where the date on the check is more than 5 days from the day they ask for it.

One more thing about post-dated checks... DON'T. Federal law says that banks do not have to limit processing of checks based on the date written on the check. Checks are on-demand instruments. The date is only for your reference and has nothing to do about limiting when it can be honored by your bank. So even if you post-date it, they can cash it at any time and the banks will merrily process it and OD your account. With Check21 now in full swing, a check can be processed within 24 hours of being endorsed to a bank. Yes a debt collector is in violation of the FDCPA if they cash a post dated check early, but you have to sue them for it. It won't stop the processing of the check.

I spoke with them on 3/13 and they wanted a post-dated check for 3/31:roll:

[ms6073]

With Check21 now in full swing, a check can be processed within 24 hours of being endorsed to a bank.

Again, once a CA has a post dated check in hand, they now have everything they need to electronically access the issuers checking account! I wrote this before and I will write it again - if someone is going to pay/settle with a CA/JDB, then unless you have a disposable bank account, payment should only be transacted using US Postal Service Money Orders (or Western Union)!

[msfinance72]

I agree with the previous posters...

1. The CA is lying about not accepting mailed payments -- it's just a pressure tactic

2. ABSOLUTELY do not give your banking information to these crooks

3. I have used personal checks to settle as a matter of record (I keep a hard copy of cashed check, incl front and back) -- however, within the letter I state "may not be processed electronically, nor any other transactions...this is full and final payment; no other agreements have been made for other payments..." type of thing...if they do process another transaction they'll be committing theft...I also keep copies of the letter with the check (pre cashing) stapled to the letter...

4. I don't like money orders b/c I feel like they can cash and then claim they never received...

[hipsociety]

Asking for a posted dated check is a violation, even if it an electronic check and they say they won't process it until you say.

[nascar]

On the other hand....I NEVER pay a CA. Period.