I am in the process of negotiating settlements on several of my debts. One such account is an AMEX for $28K. It has transferred to Aeges for collection. I received a call today from them with an offer to settle for $10K. I got them down to $2800 one time payment. I confirmed that they did NOT buy the debt from Amex, but instead are a 3rd party collection agency. Said that if I paid by tomorrow at 10:00am, it would be settled. I confirmed that they would not be selling off the deficiancy and that AMEX would not be selling off the deficiancy. They said no. I asked if they would be issuing a 1099 for the deficiancy. They said yes (which is fine as I have a huge carry forward loss from a failed business).
They wanted my bank info. Told them I do not have a bank account. They wanted me to put the money in a friend or relatives account for the transfer. Said no way. I will only send a money order overnight. They accepted.
Any other gotcha's I should be aware of?
They wanted my bank info. Told them I do not have a bank account. They wanted me to put the money in a friend or relatives account for the transfer. Said no way. I will only send a money order overnight. They accepted.
Any other gotcha's I should be aware of?
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