Oc Vs.ca

[deesown]

If you sent the payment owed to the original creditor and they accept and cash the check, is the Collection Agency required by law to remove the derogatory marks they put on your credit report concerning the debt?

How long should I wait if OC accepts the payment and funds are cashed to dispute with CA? 30 or 60 days?

[woeisme]

Does the original creditor even still own the debt if they've sold it to a credit collector? I'm thinking if they sold the debt, you owe the collector that bought the debt, not the original anymore, so paying the original is not going to get the guy they sold the debt to off your back. I hope I'm wrong, but I think you might be in for a real battle if the original creditor had given up their claim on the debt, legally transfered it to someone else, then you gave them a check.

[Lindsay]

I'm not sure because I had a collection agency calling me yesterday who was representing a debt for the OC. She told me that this particuliar bank didn't work out payment arrangements easily and they were hard to deal with. She gave me an offer of a lump sum settlement with roughly $5000 taken off the balance. To catch the account up to current, I would have needed to send $1700 that day. Then she suggested that I look into filing bankruptcy.

So even though they had the debt, I had the feeling that the original creditor had the final word as she said, "this bank doesn't make good arrangements, they're really tough to deal with. You should probably contact a lawyer to look into bankruptcy." I figure she was either the nicest collection agent in the world or she could tell by the information that they had on us that our house and auto was financed to the hilt and we would never be able to pay what they wanted.

I always thought that the collection agency had the final word, but I'm not sure if thats true in all cases.

[magyar123]

A collection agent suggesting bankruptcy??? That's a new one....probably smoking something other than a cigarette.....while listening to Jimmy Hendrix"s "Purple Haze.

[FreshLikeADaisy]

A collection agent suggesting bankruptcy??? That's a new one....probably smoking something other than a cigarette.....while listening to Jimmy Hendrix"s "Purple Haze.

That's probably the only way a person with any vestige of human conscience could actually stay in a job like that for more than an hour...

[Lindsay]

A collection agent suggesting bankruptcy??? That's a new one....probably smoking something other than a cigarette.....while listening to Jimmy Hendrix"s "Purple Haze.

I was suprised too. I almost fell over when she said it. She was from a collection agency with a bad reputation on some boards too for meanness. The only thing I can think of is that she could see we had no assets and how much we owed and knew they'd never collect.

Most of the collection agents I've dealt with so far have been relatively nice, but firm in wanting to make payment arrangements.

[deesown]

well the OC told me they had the final say wheather the bad marks would be taken off our credit report, NOT the CA. So im assuming they didnt sell the debt to the CA.