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Collection

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W

WMiller

Guest
Marietta, GA

I recently made a deal with a credit recovery agency regarding my loan which went into default. They told me if I agreed to make three payments on time that they could get my loan out of default and get me a new loan. So I agreed. In doing so I made the payments. The first payment was on the due date, the second payment I made about two days early, and the third payment I made about two days early as well. In between the second and last payment the loan papres were sent to me to fill out. I quickly filled them out and sent them back. Well, I get a call a day after making the last payment and they told me that since I paid earlier than what I was supposed to I was penalized and thay I would have to make another payment. Furious, I asked them why was this not told to me after my second payment? They simply said "That's what the dates were given to you for." And this is Lender's policy. They continued by saying if I don't make another payment my wages would be garnished. So I contacted the lender and they told me they had no such policy. What should I do.
 


D

David J. Miller

Guest
Dad, is that you?

Aside from bringing the loan current?

Obviously the collection agency is playing games with you and they may be in violation of the FDCPA, Fair Debt Collections Practices Act, but it'd be argueable at best.

Unfortunately since you owe the money there is probably not much you can do other than to bring it current as fast as possible. Another suggestion might be to contact the lender directly and see if they'll agree to a payment plan. You'd probably need to make it a fairly agressive repayment if you hope to get any cooperation.

Finally, you ought to thoroughly review the agreement they sent you and repost if you have additionaly questions concerning it.

I am not an attorney.

 

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