Old collection from an apartment complex.

Submitted by kamakazi5 on Sat, 10/10/2009 - 01:43

Hi I'm not sure if this is really the right place to ask but was wondering if I could get some information on how to go about paying off collection. I am about to move but the apartments where I am going saw that I have a collection from an apartment from almost 5 years ago. They said I can either pay it off and be accepted or pay it to below $1500 and just have to put down one months rent as a deposit. They said all I would have to do is get in touch with the agency (Professional Debt Mediation) and work out a deal with them and then have the collection agency fax the apartments that I have made such and such payments.

After reading so much stuff on how to deal with collection agencies I really don't know what would be the best route to go with this. I'd like to just pay it in full and be able to get this done as quickly as possible because I'm in a tight situation with where I'm living and have to find a new place ASAP. Also, I live in Texas and would it be better to just find an attorney to deal with it for me? Is that expensive? Any help would be greatly appreciated.

What you need to do is make sure this item which is appearing on yoru credit report is really correct and you really owe them the money. If you know that you really owe them the money, then call teh aprtment people and check with them how to settle that

If they ask you work with the collection agency, call them and ask for an settlement and makesure that they agree to fax the letter to the new aprtment people and ask them to report it to the credit agences as paid in full

Sat, 10/10/2009 - 03:24 Permalink

Hi Kamakazi,

You have come to the right place for discussing your problem. I do not think you need an attorney to deal with this. With a little patience you can do it yourself only. You have to contact the CA to settle your debt with them. You can either call them or write a letter requesting a settlement offer. Before doing this, calculate what kind of a deal will be feasible for you. Once, you have done that, send a letter to the CA letting them know the amount you would like to pay. If they agree to your proposal, then send a debt settlement agreement. Always remember to have all the written documents with you as proof.

If you are able to pay the amount in full, then send them a pay for delete letter stating that you are ready to pay the amount but they have to remove the negative item from the list. Remember to send this letter through certified mail, so that you have the return receipt.

Sat, 10/10/2009 - 05:38 Permalink

Thanks for the quick replies. I'll give them a call on Monday to work out a settlement. Would you know if collection agencies will be willing to fax back and forth rather than sending it all through the mail? I would of course mail the money order and not give out my bank account or debit card info but the rest I would like to get done as soon as I can.

Sat, 10/10/2009 - 14:43 Permalink

If they will fax, that shoudl nto be a problem. But it will depend on the collection agency

Also make sure to keep a copy of all the communication with them

Sat, 10/10/2009 - 17:22 Permalink

Ok, so I called and spoke with them and they said that they were willing to do the deal for quite a bit less so I want to go ahead and set it up. I will send the debt settlement letter out but if I'm going to fax it, do I need to sign it first and then fax it to them so they can sign? Also, after this part do I just go ahead and send a money order for the specified amount via certified mail and wait for a response from them saying they received it? Thanks again for all the help.

Mon, 10/12/2009 - 20:42 Permalink