a collection agency is attempting to collect a debt from a credit card that was opened in 1999. i was paying installments until hurricane katrina destroyed my property. i lost contact with the collection agency and did not know where to send the payments. they have now contacted me for the remainder of the balance in full. a $435 debt. they say they cannot accept payments now but i cannot pay it in full. it never showed up on my credit report over the years. can you tell me what are my options. thank you
Asked on 12/29/09, 3:39 pm
1 Answer from Attorneys
Adam Lambert
The Law Office of Adam S. Lambert
Don't pay them anything until you get a full settlment agreement in writing. If you are unable to work anything out with them and they report this as a bad debt, all you will do is move the date of last activity up 4 1/2 years and keep it on your credit record that much longer. I would recommend a deal that allows them to get paid and in return the entire credit reference is deleted from your credit report.
Answered on 1/04/10, 8:14 am
