Debt Collectors Lie – Here’s a favorite.
August 12, 2009
If you are negotiating your own settlement with a debt collector, beware of this common lie. Here’s how it goes: Let’s say the collector is seeking $5000 from you. You negotiate a 65% lump sum settlement and are pleased to get it over with for that price. The collector takes a check over the phone for $3250, and tells you that settles the case. “Can you send me something in writing?” you ask. “Sure. I’ll send something out as soon as the funds clear.”
“Hmm. Pretty good”!” you think. “Maybe I should have gone to law school after all.”
Then….about a week or so later, you get another call from the same outfit looking for the remaing balance on the $5000. You very calmly inform the caller that there must be some kind of mistake: You had a deal to settle the case at 65% and you made good on your end with a check by phone.
There’s a chuckle: “We never settle these cases that low.” says the caller. “Do you have anything in writing?”
“You said you’d send me something.”
“I didn’t think so. My notes show no record of an agreement here. Only that you agreed to make an intial payment by phone and would pay the balance by Friday.”
” But….”
“Listen. I want you to make good on your promise. Pay the $1750 by Friday, or we’re going to sue you and garnish your wages.”
“But….”
“You have until Friday if you want to avoid a judgment.” CLICK
****
I can’t tell you how many times I’ve heard a story like this from clients who have been sued. The moral is clear. If they won’t put their promise in writing, BEFORE you pay, it’s a good bet they don’t intend to keep it.
Truth is debt collectors lie. [I am shocked and amazed!]
So, get it in writing before you send money.
