they took to much!!!!!!

by inda

what happens when you make arrangments to withdraw funds to settle an account, and they settled for a lower amount to settle the dispute and take both amounts which exceeds the original settlement amount.

example: original was $255.00 due to be withdrawn on 01/01/2012

befor that date we make contact and they offered to settle for $155.00 which i agreed.

the $255 was to be canceled, but was withdrawn and withdrawn a day befor the agrred arrangement which caused be to bounce a payment. then they still pulled out $155 wich totaled $410.00.

what happens there and what rights do i have?

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Dec 11, 2011
They took to much!!!!!!

Inda: Did you get the terms of your settlement agreement in writing? Whenever you negotiate a settlement agreement it's essential that you protect yourself by getting everything in writing before you allow any money to be debited from your account to fund the settlement. Among other things, the written agreement should clearly state the exact amount of the settlement, that the creditor (or the collector) is accepting that amount as payment in full of your debt, and the date that your bank account will be debited for the settlement amount.

If the date for the debit arrives and you have not yet received the agreement, you should contact your bank to cancel the automatic debit and let the creditor (or collector) know what you have done right away. Then set a new date for the debit and then wait to receive the written agreement.

If you did get a written settlement agreement then I suggest you make a copy and send it to the company you settled with together with a cover letter explaining your problem and asking for a refund of the $255.00. Make a copy of the letter for your files and send the original together with the copy of your agreement via certified mail, return receipt requested. Then I would follow up by phone as soon as you receive confirmation from the post office that your certified letter was received. If the company refuses to refund you the money, then get in touch with a consumer law attorney in your area to discuss your options.

If you did not get the terms of your settlement in writing, I recommend that you follow the same process as I suggested in the prior paragraph. Again, if the company won't give you a refund, get in touch with an attorney.

Dec 11, 2011
i won!!!!
by: Anonymous

they called after i had the electronic checks i got a call from them wanting their money. i told them to take me to court, and that i have all the written docs. from their office of the settlement, so i threatened them to take me. i told them they dropped the ball not me, and that the judge will here everything, but it will come down to all the docs. in hand. i will counter sue for the time off of work which is more than the account is worth minus the travel fees on their side since its here in ca., or they can honor their mistake, and buy their emloyees a christmas lunch and give them further training so this doesn't happen again.
they agreed, and sent out my letters of resolution to me via email......
1 for the win for the consumer.

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