a couple of questions...

[sunshine1234]

What is the name of your state? WI

1. I talked to ARS yesterday regarding my bill with Fleet... they were so mean, even after I called them back.. I simply called to find out what my options are in terms of a payment plan or a settlement. They first offered a settlement (the bill is about 7400 and they offered me 5000).. but they wanted it right then and there.. obviously impossible... so then I asked about a payment plan.. they told me I can set up automated checks to have 400 taken out this month, 400 next month and then monthly payments of 150. Now, I'm wondering if this was the right thing to do? Can they be trusted? What if I decide that I dont' want to go through with this payment arrangement? Can I call them and "unauthorize" the checks that we set up?

2. If I agree on a settlement amount and am able to pay that, can I request something in writing from them stating that it's paid in full; and if they give me this documentation, does this mean they can't come after me later?

3. This is probably a long shot, but does anyone know of any places that are likely to give people with terrible credit consolidation loans? I'm not talking about consolidation / credit counseling agencies, but actual personal loans?

THANKS!

 

[cmorris]

What is the name of your state? WI

1. I talked to ARS yesterday regarding my bill with Fleet... they were so mean, even after I called them back..

**That's why you should never talk with them on the phone.

I simply called to find out what my options are in terms of a payment plan or a settlement. They first offered a settlement (the bill is about 7400 and they offered me 5000).. but they wanted it right then and there.. obviously impossible... so then I asked about a payment plan.. they told me I can set up automated checks to have 400 taken out this month, 400 next month and then monthly payments of 150. Now, I'm wondering if this was the right thing to do? Can they be trusted? What if I decide that I dont' want to go through with this payment arrangement? Can I call them and "unauthorize" the checks that we set up?

**I wouldn't do it. They will have your account number and checks. Who's to say they won't empty out your account or send the checks before they should?

2. If I agree on a settlement amount and am able to pay that, can I request something in writing from them stating that it's paid in full;

**Yes. Always get things in writing.

and if they give me this documentation, does this mean they can't come after me later?

**If it states it is paid in full, and they will not collect or sell the unpaid portion.

3. This is probably a long shot, but does anyone know of any places that are likely to give people with terrible credit consolidation loans? I'm not talking about consolidation / credit counseling agencies, but actual personal loans?

**Not that I know of. Sorry.

THANKS!

Go to creditboards.com to learn about your rights. Start with the Newbie Section.

 

[sunshine1234]

so, can i call them back and cancel the arrangements I made? If I unauthorize them, then they can't go in and take the $, can they? I'm assuming I should send a letter also? Obviously, I can just take the money out and of the account so that they can't get it anyway.. but don't they have to cancel the it if I tell them to do so?

 

[cmorris]

You don't know if you are going to talk to one of the few honest collectors or a terrible one, so treat them as you would a potential thief. Would you leave a thief in your house unattended? I didn't think so.

Since they have your account information, I would close the account and open another one. Send a letter, CMRR, stating you were not comfortable with that arrangement. If and when you make payments, do NOT use your checking account!

Now, go to creditboards and READ, READ, READ!

 

[Shrike1070]

Please Read This Thread...All of it!

https://forum.freeadvice.com/showthread.php?t=237810

 

[hbreen]

Question - you ask us if you should take the option of giving them your account information and then in a second post ask if you should stop the payment arrangement? Why even ask us about taking the payment option if YOU HAD ALREADY DONE IT?????