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goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3235



2257 Magic Points
Subject: Heritage
 
 Posted on Mon Aug 04, 2008 1:50 pm  
I got a collection letter from Heritage out of New Jersey, I have to say that they were one of the most pleasant collection agencies that I have dealt with. I am posting this because they do not fit the norm in a few different ways.

1. There professionalism and friendliness was not expected, they actually was very cooperative when I said that I could not do anything until the end of the month, no pushing me to make a payment today.

2. They are willing to settle for 60% of the debt, I found this very unusual because normally they will want 80% in any type of settlement offer, at least with the collectors that I have dealt with.

We spend a lot of time bashing the bad ones, I have dealt with so many that are just down right nasty that I felt compelled to come on here and let you know that there are still a few descent ones left.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 3249



1340 Magic Points
 
 Posted on Tue Aug 05, 2008 2:52 am  
That is great to hear GN. I am glad there actually are professional in the debt collection field.
 
Lorri



Joined: 15 Jul 2008
Lorri's page
Posts: 313



245 Magic Points
 
 Posted on Wed Aug 06, 2008 1:22 am  
Well, that is good to hear. I like to a company prove themselves too by backing up their talk with a good walk. So keep us posted.
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 3249



1340 Magic Points
 
 Posted on Wed Aug 06, 2008 1:26 am  
Bet you are anxoius to put this behind you. do you recognize the debt? I hope this time you can get a pay for delete.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3235



2257 Magic Points
 
 Posted on Wed Aug 06, 2008 3:29 am  
actually it has never been on my credit report, it is fairly recent. They are offering me a settlement at 60% so I am gonna do it in one lump sum at the end of the month and be done with it.

Once I get into the month of September I will be done to my mortgage, car payment and utilities, I am going to start making principle payments on my car to get rid of the bill all together, I figure I can do a 5 year payment pending nothing else comes up. I think I have my past cleaned up, I think, I hope anyway.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
erb1953



Joined: 31 Dec 2007
erb1953's page
Posts: 627



-15 Magic Points
 
 Posted on Wed Aug 06, 2008 5:23 am  
That is more than what the industry standard used to be that is for sure, when I was settling out debt, it used to be 70 to 80 % of the original debt, you got a good break here right off the bat. that is good.
 
anthony

anthony

Joined: 31 Jul 2006
anthony's page
Posts: 533



13296 Magic Points
 
 Posted on Wed Aug 06, 2008 5:58 am  
Hi goodnatured
Are you sure that you actually owe the debt. If you are sure, you can agree to this offer because settling at 60% is no doubt a good offer and that too before the debt is listed in your credit report. But if you are not sure that you owe the debt, send them a debt validation letter first before paying the debt.
_________________
Anthony Marx

A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible.
You can also visit my blog
http://financewatchonline.blogspot.com
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3235



2257 Magic Points
 
 Posted on Wed Aug 06, 2008 10:45 am  
Anthony,

I know I owe the debt, I have no question about it. thanks for the advice anyway.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
erb1953



Joined: 31 Dec 2007
erb1953's page
Posts: 627



-15 Magic Points
 
 Posted on Thu Aug 07, 2008 2:29 am  
Seems like you caught a hell of a break this, I would take advantage of it and pay it off, especially if you are not disputing the debt.
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 3249



1340 Magic Points
 
 Posted on Fri Aug 08, 2008 2:00 am  
you say its usually 80 % of the original debt. Is this before all the interest fees and over the limits are added. Congrats on clearing up your past. I am happy for ya.
 
Justin

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 534



13649 Magic Points
 
 Posted on Fri Aug 08, 2008 1:12 pm  
The collection agencies charge interest with the debt and that is the amount they demand from you or show up in your credit report. Most of them settle for 80% of the total amount they have demanded from you and not 80% of the actual debt.
_________________
Best Wishes
Justin
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 3249



1340 Magic Points
 
 Posted on Sat Aug 09, 2008 12:53 am  
Well at least its a little off the bill but that still could be a heck of a lot more then the original debt. I wish I could buy mine for pennies on the dollar like some of these collection agencies do and be done with it.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3235



2257 Magic Points
 
 Posted on Sat Aug 09, 2008 10:52 am  
The actual debt amount was $1035 and they are willing to settle it for $615, there are no extra fees, this is the actual amount. So I think that this is a good break on this. I am however going to make sure that I get a pay for delete letter and a paid in full agreement before I move forward, I am going to take care of this at the end of the month, I have to contact them on the 23 of this month.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 3249



1340 Magic Points
 
 Posted on Sun Aug 10, 2008 2:33 am  
Sounds like a pretty good company. So your saying this is not over the limit and other stuff added in? If that is the fact thats just pretty awesome. I wish I could just pay debts off like that. It would take me months of saving being that we are down to only my hubbies income thesepast couple months.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3235



2257 Magic Points
 
 Posted on Sun Aug 10, 2008 4:22 am  
yeah, that is the actually amount, that is why I want to get it all paid now, because if it would be another collection agency then they will start being stupid.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
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