Paying Old Accounts
Ok, so I ran my credit report and found two accounts in bad standing. One was for a lousy bounced check that was in the red for a $1.25 but now I am supposed to pay $123. The other is for something else but dont remember. Anyways, the credit report gave me the address to the bill collectors but there is no phone #. I have the address and the account # it is under. Should i just send the check and hope that the account gets closed. or do I need to do some more searching for the phone number? the companies are called Equinox financial Mgmt and Global Payments Check RE. Thanks for the help
Talking to them on the phone is a great way to become financial roadkill. Everything must be in writing. You need to read up on (if not pursue) the validation strategy, especially if these debts have gotten quite old.
Before you act, Read. Read. Read.
Good starting points for your reading are here:
http://www.creditinfocenter.com/debt/
also www.crediboards.com
http://www.globalpaymentsinc.com/ProductsAndServices/CheckProcessing.html
Equinox:
http://www.gy.com/biz/561440/847.htm[ Edited by flacorps on Date 08/09/2004 ]
make sure you get a reciept. i paid a bill and 3 years later i got a call from a collection agency. i had to find my reciept or pay it again. sometimes i think they do it on purpose......kenmax
Quote:
On 2004-08-09 14:44, kenmax wrote:
make sure you get a reciept. i paid a bill and 3 years later i got a call from a collection agency. i had to find my reciept or pay it again. sometimes i think they do it on purpose......kenmax
Nah. Either the original creditor accidentally sells the same debt listing to a new Junk Debt Buyer, or the Junk Debt Buyer sells some of its list of debts down the line, having failed to mark the debt as paid. Happens a whole lot with bad checks.
Such sloppiness does get some JDBs charged with fraud and run out of particular states though.[ Edited by flacorps on Date 08/09/2004 ]
Flacorps, thanks man that was more than helpful i will check out those sites and get my credit cleaned up.
http://www.creditinfocenter.com/debt/
[ Edited by KimInAustin on Date 08/09/2004 ]
had an ad on it for a credit card!