Paying Collections - Dave Ramsey Rant

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[andyvaldez]

Remind people, do not pay collections until it's agreed upon in writing that it will be removed from collections. Yoo can agree to pay a certain amount in writing but it will remain in your credit history unless you get then to remove it and have it in writing.

[natgiovanni]

As a debt collector, I can say you're right. They all lie. I did not. I even told people how to get out of paying sometimes. I told a lot of people about Dave Ramsey and gave advice for how to get back in the driver's seat.

[angelvigil]

Also get the collector to agree in writing to remove the debt from the credit reporting agencies before you send them payment.

[jreyes]

Was just on a phone call with debt collector… made no decision & thankfully I’m grateful I didn’t.. & came across your video. Everything you said is ON POINT. She wanted my checking or savings to set up an agreement to pay. Man, I’m so thankful I looked up how to deal with debt collectors before making a decision. Blessing from god. I’ll take it from here & do exactly what you said & pay off my active ones 1st. A MILLION THANKS

[premiercarpetcare]

Don’t forget to negotiate the price with them. Never pay in full, always make them settle for less.

[BigMoney]

I stupidly gave a debt collector access to my account BEFORE watching this video. Thank god they were true to their word and only took out what we agreed to. I know I dodged a HUGE bullet dave once again gave me incredible advice. I love this man

[niccolethomas]

"you can tell their lying when their mouth is moving" lol lol

[jessenethery]

I just went to the business i originally owed. Had them pull up the debt and i payed them. It came right off my credit and it was over.

[DReed]

Judge Judy every episode: “Did you get the agreement in writing? No? Then I don’t care because it didn’t happen.” Pay attention to her because she’s strict and if you cover what she says to cover too along with this video, you’re good. The only thing that works is paper and ink, screenshots, harassing texts and phone calls.

[kathrynm]

I had to learn the electronic access lesson the hard way, many a year ago. These collectors are like a nasty virus once they have access to your bank electronically. They cannot be removed from your account unless they remove themselves. Excellent advice, Dave!

[deandra]

If it’s not in writing, it didn’t happen - Healthcare says that too 😂

[Savage]

When Dave says "do not trust them, " he has never been more right about anything. (And he's right about a lot of things.) Been there, done that.

[Munozef]

Crazy how this just happened. Collecting said they only can send me a letter after I give them my checking info. Thank god for this info.

[MistaKlutch]

Thank you, Mr. Ramsey. I'm going to apply this knowledge to a mess that I'm into after switching from T Mobile to AT&T.

[SMart]

Never, ever, ever let them into your bank account...EVER!! He’s right. We found out the hard way how right he is!

[bluewater]

Another piece of advice I heard is to negotiate an agreement with the collection agency that you will pay off the debt lieu of the collection agency agreeing to take this debt off of the credit reports(get this in writing). They want the money, and you want a good credit score. Win-win. My guess is that Dave probably doesnt care about your credit score, but I like the idea.

[challenger]

Dave, you are The Man!!! I had moved and left a car on the street that had a bad power steering pump and I couldn't get it moved and had told the city that I was working on getting it running. They had it towed by a towing company which claimed I owed them $3, 000 for towing and storage! They, "graciously" gave me a discount on the total amount which was $2K! That's about 2X the value of the car, itself!!! I said, OK I can give you $50 a month until it's paid off. They, reluctantly, agreed but said they would require higher payments in the future! I guess they thought something was better than nothing! After about three months of paying them $50, they said, "we're going to need more than that in the future or we'll send it to collection." That's when I saw your video about collections and I stopped calling in my monthly payments! I told my wife to not sign for any collections, if they came to the door! It's been 3 months and I haven't heard from them since!!! F those A-holes!!!

[stephenroberts]

I agree that you should get the amount you owe in writing before agreeing, or negotiating any payment. Then, yes, pay it! A collections agency will only hold the debt for so long before they sell it to some other collection agency. Each time is a new collections account hitting your credit. The damage is done with the first one, so find a way to get it paid. Why let it keep chasing you, and dinging your credit again every two to three years. This is also presuming they don't sue you for the debt, which they could do, and start garnishing wages. Collections is not a game you will win. Pay it off, as agreed to in writing.

[natalieshante]

I found out about Dave my senior year in college in my seminar class. Absolutely the best financially advice. I wish I would have heard about him my senior year in high school. Lol.

[robinjackson]

"Do not give them electronic access to your bank account!" A collector asked me, over the phone, for my bank account information, for a payment (the payment was small), but my process has ALWAYS been to go in person to the collection companies, so that I can get written letters, give them a check, and just so that they can see me, and for me to be able to look them in the eye, lol.