Paying off debt

thinking about paying off debt

Hopefully this will be a quick and easy question.

I have aprox. $1700 in debt with a hospital, which was sent into collections a couple years ago. I have tried setting up payment arrangements, but they sent me my bill and said it was due about 2 days after I received the bill. I sent in my bill and lowand behold, my payment was accepted, and I awaited for another bill. Nothing came. About a month later I got a letter from Central Financial Control saying I defaulted on my agreement with them to pay. So I called them up and they gave me the run-around and said they will no longer accept payments because apparently they never got my first payment. Good thing I didn’t send them a huge amount of money. This is the ONLY thing on my credit report. It’s 2 bills equaling up to about $1700.

Now, I talked to a credit counseling guy (free) and said that I could probably set up something where I could settle everything for $1000, if i talked to the right person. This gets to my first question. If I were to pay off the $1000 how should I go about doing it so they don’t rip-me off again? This is A LOT of money to get lost. Should they also report to the credit agency that it’s paid? and would that add a positive note on my report?

thanks in advance.

Before going much further, find out where your last payment went. Did you send a regular check and if so was it cashed? Did you send a money order, cashier’s check,etc? Same question. If it was never cashed, put a stop payment on it before send this company any more money.

Then, once you get a payoff agreement in writing, send the money (after making a xerox copy) either through FedEx or USPS certified so that some human and the company must sign for it. FedEX and UPS can give that info the day it is delivered, USPS will snail mail you back the green post card. Once you have the name of the person signing for the money, you can call the company back and get a verbal agreement they have it.

Then, since you have copies of the check, the payoff agreement and confirmation of their receiving the check, they can not legally do any more.

But again, I would first be fighting to know where the first payment went.

Good Luck.

Debt settlement

Alliance One

This is my first post. Anybody ever heard of Alliance One before?

This is debt settlement company. If you’re interested in our mostly collective opinion of these companies do a search in this group’s archives for the last month. We’ve discussed it in depth and I’m sure that’s why no one has jumped up to answer it again. Check out the archives and then ask any questions…we’ll try to help where we can.

OK, this may be a silly question but is there another way to search through previous messages for “Alliance” other than just typing it in hte search box? I just keep getting the last few messages about alliance one. Thanks.

I have been getting alot of calls from Alliance One for my credit card. They have settled for $13,000 but I can’t afford it. I tried calling my bank for a loan but since my credit is pretty much screwed, I have been denied. Any suggestions?

Credit cards

Save money or Pay off Credit Cards?

I’m wondering if any of you have any articles or books you can refer me to. I am 29 with 2 kids, hubby and house. We’ve accumulated some credit card debt, and a HELOC as well. But we also save money for retirement, to Roth IRAs, 401K and 457 and 529 plans for the future. My question is should I stop our monthly deposits to these “savings” accounts momentarily and use that money to pay off the debt?

See if you can increase/rollover deposits to 401K and IRA an take what’s left from 457 and 529 and try to pay down debt. We temporarily stopped our savings and 529’s for the kiddos until we get out of debt. The more money we have to go against the debt the quicker it gets paid off and the more we will be able to save in the future.