Posted on: 25th Nov, 2008 11:22 am
I have an account in collection and have been offered a credit card through the company...I have an account in collection and theyve offered me a credit card where my principal balance is the balance i owe them. i would make monthly payments to them at 0% interest on the principal balance and i would receive a small credit line. after the balance is paid then the credit line will build. is there anyone who has delt with this and can give me some advice? such as is this a good idea or should i just try to negotatiate a payment plane
Hi marybelledowney,
I haven't heard of this earlier but it doesn't seem to be a bad idea. But what if you are late on paying the dues? Will they charge anything extra? If you feel that you are comfortable paying the debts in this manner to the collection agency then you should go for it. If you are not comfortable, then you should better try negotiating with the collection agency.
Thanks
I haven't heard of this earlier but it doesn't seem to be a bad idea. But what if you are late on paying the dues? Will they charge anything extra? If you feel that you are comfortable paying the debts in this manner to the collection agency then you should go for it. If you are not comfortable, then you should better try negotiating with the collection agency.
Thanks
Thanks that sounds good. My boyfriend is actually going to pay the balance in full for me (he wants to buy a house by the end of next year so we need to fix my credit) so i'm not worried about late fees- i was worried it might be a scam.
Hi marybelledowney,
If you feel there may be a scam involved in it, then I would suggest you not to go for it. You should better try negotiating with the collection agency.
Thanks,
Jerry
If you feel there may be a scam involved in it, then I would suggest you not to go for it. You should better try negotiating with the collection agency.
Thanks,
Jerry