Is there truth in this?

[Kate123]

What is the name of your state? New York

A debt collection agency wants me to set up payment plans with them through my checking account. They said, they are reliable and I can take the information they send me to my bank for verification.

If I choose not to set up automatic payments with them monthly, they stated they will charge me interest on my account? Is this true?

Thanks.

 

[cmorris]

Do not give them your banking information unless you want to take the chance of them emptying out your account.

They may be able to charge interest; it is based on your state laws.

Have you requested validation to ensure that this is your debt, to get an accounting of the debt, and to know that you are paying the correct company? If not, send a letter, certified mail return receipt asking for proper validation. Also mention to only contact you by mail as it is inconvenient to receive phone calls. The phone is bad and there is no paper trail. Always get any agreement in writing.