Wolpoff & Abramson

[boswd]

What is the name of your state? MA

I have read all throughout the internet from Budd Hibbs to everyother debtor forum that these guys are the worst of the worst, the sleaziest and most underhanded debt collection law firm out there. Am I missing something?
One of my old credit cards was sent to them last May in 2006. I contacted them, they asked for their standard 20% down and were more than happy to even spread the 20% down payment of my three pay periods. We agreed on a VERY affordable montly payment plan after that, much more afforable than any of the others I've dealt with. They didn't even ask for me to set up an automated ACH. I have paid them faithfully since we initiated our terms. They send me monthly statements on my account and each of the payments and balances everything up to date. I have just two more payments to go and I am all done.
So my question is am I missing something here? Am I going to get some sort of bomb at the end revealing hidden charges when I am thinking I am all done? I'm not understanding all the complaints with this firm. So far they have been nothing but accomadating. So what am I missing?

 

[Kanman]

Was this a forced arbitration agreement/settlement (they like to do this) or just a direct agreement with W&A? Also, did you actually get anything in writing?

Need more details...

 

[boswd]

Was this a forced arbitration agreement/settlement (they like to do this) or just a direct agreement with W&A? Also, did you actually get anything in writing?

Need more details...

This was direct agreement with W&A. We verbally did it over the phone and within that week they sent me a statement of the agreed upon terms.

 

[Kanman]

Well report back after the last two payments. These guys are one of the worst DC agencies out there, as you probably have already read, so expect ANYTHING to happen.

Good though you have something in writing. Good luck, I hope it works out for you.

 

[boswd]

Yeah I mean so far everything has been going great, like I said I pay them faithfully each month for the amount agreed on and after every payment they send me a new updated statement. I even talked to one of their paralegals last time and asked about the credit reporting now that I can see the light at the end of the tunnell, she said they don't report to CB's but once the payment is in full a letter will be sent out to the OC that it has been paid off and for them to make the report and if after 60 days since last payment nothing has changed she said to give her a call and they will go from there.
So like I've said, I've heard absollute horror stories about these guys but yet so they have been great to me.

 

[boswd]

so I was wondering if anyone else has had a similiar experience with these guys, where everything seems to be going great, everything is all lined up and then have them pull a fast one. There has to be some reason why these guys have such a horrible reputation.

 

[Kanman]

boswd, did you read this new posting on Bud Hibbs website?

Debt buyers typically like to place information on your credit files, and then wait for you to try to purchase a home, a car or refinance, then hit you with a highly inflated figure. Of course, anyone considering paying a debt buyer should be aware that payment will NOT get the account deleted from your credit files, nor can a debt buyer change anything being reported by the original creditor. If they tell you your credit will change, it will be deleted, or they can get the original creditor to do so…
THEY ARE LIARS! Get their promises in writing before making payments. If they offer a statement along these lines…”We will notify the credit bureaus to indicate a paid status…” you should know it will NOT help your credit report or credit scores. Unless they commit in writing to: ‘ACCOUNT WILL BE DELETED” save your money. Never forget that debt collectors are paid a commission to get your money, once they have it, they will not give what was promised. Once you give up that money, you lose all your bargaining position, so don’t pay until or unless you get something in return. There is a special group of consumer attorneys who go after credit bureau violations, you can reach them at: XXXXXXXXXX. Always dispute a debt buyer on your credit report who fails to validate as: “not my account” with all three credit bureaus.

 

[boswd]

Oh I know I won't get it off the credit report, too many hoops to jump through with that. The date of it when it went to collections was almost 4 years ago so I know it will come off in a couple of years. I just want to make sure it has the "paid" next to it so I don't have to go through the whole disputing process.