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HELP! already set up payment arrangements


jyaz
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Just yesterday I set up payment arrangements with a collection agency. I found out info from this webiste and I would like to validate the debt before proceeding. I am feeling that I should cancel the check by phone (due today) and investigate further.

Have I already missed out on the opportunity for validation? Have I cancelled my right since I have spoken with them? This debt is so old it is not even on our credit report. We were just afraid that since it is from a laywer(collection agency), that we would end upwith a judgement (that happened before).

HELP!

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IMO, I would send a DV to them and tell them that you may have hastately agreed to make payments on a debt you are not sure is yours. I would also rescind the authorization to draft on your bank account. I would then ask for debt validation before I would make any arrangments. Personally, I would write this all out, take it to the bank and have a notary verify what documents you will be including in the sealed envelope, then I would send it CMRRR. If they continued to take money from that point on then I would use that against them.

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Hi, I would send a DV letter anyway. It the letter state that "before you can finalize any payment arragnements, you would like to validate the debt. Please send... documents."

When dealing with a CA, I always ask for a copy of the original signed promissory note, a complete payment history and any documentation showing how the outstanding amount was calculated. I also ask for a copy of any assigment agreement between the CA and the original creditor.

Send everything CMRRR and be sure to follow up on this should they not respond.

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