Trying to settle a debt.

by Nailin
(South Lake Tahoe, Ca)

We tried to pay a debt that is in collections. When we called to settle, bank of america said they sold it snd gave us their agency info. We called them snd they dont have they gave it to someone else, called them and they stated bank of america took it back months ago to call bank of america. Called bank of america and they dont have it. So we disputed it with equifax. Now what happens? They have 30 days. We know its owed but we can pay anyone!

Comments for Trying to settle a debt.

Click here to add your own comments

Dec 26, 2011
 Trying to settle a debt
by: Debtcollectionanswers.com

Sounds like a frustrating situation! You may want to contact a consumer law attorney for help. Often, a call or letter from an attorney can get action when a consumer's own efforts have failed. Go here for a free consultation with a consumer law attorney .

Also, disputing a debt with a credit reporting agency like Equifax has nothing to do with trying to pay off a debt. You dispute a debt that is in your credit history when you do not believe the debt is yours or you believe that information related to the debt is inaccurate.

Jan 05, 2012
 i paid off all collections accts now they wont take it off my credit! what do i do now? dipute it??
by: Anonymous

I paid off all collections accounts now they won't take it off my credit! What do i do now? Dispute it??

Reply from DebtCollectionAnswers.com:

Paying a collection account doesn't take it off your credit reports. We recommend you read our page about what you can do about collections accounts on credit reports.
Jan 08, 2012
 MRS
by: deirdre anne laaman

I am looking to obtain a $4000 loan to pay off long overdue medical bills. My husband and I are on a pension which brings in jointly $1400 per week. We have an excellent credit rating and own our own unit and car( which would be worth at least $1400 now.) we have used all our savings on my health bills and we have not had a holiday in 12 years.
1) could you please tell me if you can provide a loan for us and just how much would be our repayments over 3 years?


Deidre - Thanks for your question. Please be careful about applying for loans online! We have received numerous complaints from consumers who applied for loans online then were hounded by fake overseas debt collectors.

We can recommend two reputable resource for you, however: a Prosper.com personal loan or an unsecured loan. You can also try your local bank or credit union.

But before you pay this debt, keep in mind you may be able to negotiate a settlement for less than the full balance and/or it may be outside the statute of limitations.
Feb 03, 2012
 Statue of Limitations
by: Jami

How do you know what the SOL on a debt is? I live in Alabama, and have been trying for quite some time to fix a debt on my credit report. I obtained a loan from CItiFinancial (now ONeMain Financial) My husband lost his job and we had to forego certain payments to pay our home bills. They actually sent me an assistance program letter. I filled everything out, with a representative on the phone, and faxed it in. I set up a monthly payment we could affors, and they were going to lower the interest rate. I even gave them my account info to pull the payments out themselves. The payments never came out! I tried to call and fax them to figure out the issue, and no one would respond. They then proceeded to sell my account to several companies, increasing the amount owed each time. Now I cannot get anyone to answer me and I want this off my credit! I have documentation and everything, but I really dont want to go to court.

Jami: Contact your state attorney general's office for the statute of limitation information you are looking for.

Click here to add your own comments

Return to Debt Collection Questions.

Learn how debt collection laws can help you!
This website does not provide legal advice.
All information is for educational purposes only.
Copyright 2007 - 2021 by Mary Reed and Gerri Detweiler.
All rights reserved..
Read our Privacy Policy here. Do not sell my information.