California | Credit and Debt Law
Legal Question
Collection Agency Honesty
My wife and I have one blotch on our credit rating, which we discovered when we applied for a car loan through our credit union. The original debt--$200--was incurred via a credit card.
The debt, apparently, has been bought by a major collection agency, which upped the debt, plus interest to $800.
I talked to a representative who said he would accept $400 as payment, and then he wanted me to pay by check over the phone--giving him the routing number, check number, etc., of my credit union. I said I'd prefer to send the check. I said this because I had no assurance that this collection agency, which seems to have many unhappy customers, might just cash the check and not agree that the debt had been fully paid. (I didn't tell him that I had this concern.)
Sorry to ramble, but my question is this: If I send the collection agency $400 is there any guarantee that this company will agree my debt has been fulfilled and notify the necessary credit reporting bureaus?
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