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Old 10-26-2001, 12:04 PM
surchem
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What do I ask for from the collection agency before I start paying?


I live in NY state.

My ex-wife stopped making payments on her car (which we bought when we were married and I am the primary on the loan) and it was repo'd. The collection agency is unable to contact her (me either) so looks like I have to start paying. Spoke to the collection agency and told them I could pay an amount per month and they said "Ok. Send it in." What kind of document should I be asking for from them that shows they have agreed to me making monthly payments to them on this debt and that they will discontinue any other collection efforts?
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Old 10-26-2001, 12:40 PM
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There are no 'standardized' documents in this case.

However, I would recommend the following that you might try to do:
1) Get a 'validation' of the debt. The collection agency is REQUIRED to furnish this if you request it (this is covered under the FDCPA, available at [url]http://www.ftc.gov/[/url]). This validation should not only include verification of the numbers themselves, but also prove that the collection agent is actually authorized by the creditor.
2) Try to get a verification from the collector in writing. Negotiate an acceptable payment program and then have them confirm it to you IN WRITING. It should show outstanding balance, agreed payments (amounts, payment dates, etc.) and that upon completion by you, the debt will be PAID IN FULL.
3) Also, try to negotiate any credit report comments to be made. PAID AS AGREED is best.

Finally, get all of the above IN WRITING and make sure you keep copies of ALL documents.
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