Monday, September 25, 2006

Help! Re: Robert Paisola post on


I came across this posting by Robert Paisola on, as I find myself in a very similar situation. I am being harassed by a collection agency regarding a delinquent Chase credit card account. I am doing my best to work with them but they are very rude and disrespectful with my situation. I can not pay the entire amount of $5700 nor their offer of payoff of $4200.

I have asked them what my options are and of course, they continue to insult me and threaten action. They recommended I talk to an attorney and I'm looking at what this might cost. Given that I have three children to support and other life sustaining bills I am not sure where to turn.

You recommend in this post that I don't settle with them and wait until it goes to a secondary market or major collection company. I live in Salt Lake City and need some good advice as to what to do. I am determined to get out of debt in the most effective way without getting myself into a deeper dilemma. Is there someone here at your office that I could talk to. I need to act quickly.

I look forward to your speedy reply,

Warm regards,

Mobile 801.231.4398
Hello Ayse:

Thanks so much for taking the time to write to me regarding your situation. Your question is highly complex and is providing me with a possible moral conflict as I attempt to assist you.

Let me say that I have dealt with hundreds of people in your situation. Statistics indicate that the American Publis is way overextended in their credit card obligations, so it is reasonable that there are going to be questions like this come from this forum.

My feeling is that you have an obligation to first and foremost take care of your family. The credit card bills have spun out of control and now it seems like you are going nowhere.

So the answer to your question is this:

YES, refuse to pay the balance. Do not pay any of the payments from this day forward. In approximately 120 days your account will be Charged Off and the account will be transferred to a collection agency on a contingency basis. DO NOT PAY them either.

After approximately 6 more months of letters and calls, your account will be SOLD to the secondary market to a major Collection Company that will buy your account for pennied on the dollar.

This is where you negotiate your settlement on the account, and you only agree to pay IF THEY AGREE TO REMOVE ALL OF THE DELINQUENT ITEMS FROM YOUR CREDIT REPORT for their own trade line, but ALSO FOR THE ORIGINAL CREDIT CARD PROVIDER.

This is a complex matter, but essentially you can refues to pay, refuse to pay the first collection agency and then settle the debt with the final purchasing agency.

Their contract permits them to bind the original creditor. They will deny this, but that is the way it works.

Our offices mat be able to assist you, simply send a detailed request for assistance when you get to that point to and make sure you paste this email in your request.

Ayse, it is my honor to assist you and I am hopeful that I have provided additional information to you, although it conflicts with the business of collecting debt!

Remember to leave positive feedback on the AllExperts.Com site, and I wish you the best!

Robert Paisola

No comments: