Why you should NEVER PAY COLLECTIONS AGENCIES EVER!!! Do this Instead!!

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[ridesharing]

In California, debt is payable for 4 years. Many collection agencies call you a few months before that as they have just picked up your debt cheaply. If you acknowledge the debt, it reactivates the process for another 4 years. So if the debt collector calls, just say, "I don't remember that debt, that's not mine." They will often say, "Well, just pay $5 now, and this will stop the phone calls for a while until we can figure this out." Paying that $5 keeps your account current, so you should never do it! Don't avoid collectors. Ask them their name, the name of their company, and their address. This freaks them out! Then tell them "As per California law, I am requesting that you cease contacting me by phone. This is not my debt." if they contact you again by phone, send them a "cease and desist" letter to the address you have. Good luck. Listen to Glendon, he's dropping some gems!

[queelah]

Thanks for this info. I've heard this advice but never explained in this way. Very useful.

[redbutton_photo]

Very true, RECENTLY saw a letter like that fine print DID say they couldn't legally collect.

[georgesenda]

Citibank owns a lot of credit cards that aren’t branded under the Citibank name. Like the Shell card as an example.

[CJ-holv]

Love u man keep spitting out that lit content! Just formed my llc... keep hustling

[georgesenda]

I refused to pay the Comcast bill because they refused to remove a $100 repair fee thatbwas for their external wiring. The collection agency removed the fee. I only owe $140.

[georgesenda]

Being on Social Security, I am judgement proof.

[denny]

I was sued by Midland collection I'm guessing over a year and a half ago. Now I am permanently disabled and I am not able to work anymore but I do receive a monthly pension from the L&I worker's comp for Job related injury. Now I have heard that they can not go after my pension. And I have a car that is valued less than $3K and I have probably less than $12K in asset's in my household. Now I am also dealing with the credit report companies because there are 2 claims on my credit report that are the same exact claim now I disputed it with all 3 credit report companies and Experian removed it within the 30 days Equifax I talked to yesterday and they said they are removing the lvnv collection claim which is the false or fraudulent claim but TransUnion is still saying that they both have been verified and they are good claims but that is a false report I believe. Can you please help me

[udzirr]

I agree...leave collections alone.
If you’re worried about credit, which I’m not, ignore Suzy Orman and start writing affidavits to force that mess off.
Never had this happen...my wife brought me lunch at my remodel project, received traffic ticket for 34mph in a 30mph, but...it’s a “school zone” 20mph (with convienent cameras) kids weren’t even around at the time.
Seattle sends it to collections in Chicago, I forget about it.
Now 250$ ticket is 350$... no tabs if you don’t pay.
Is this an exception to the standard rule?

[CreditSolutionist]

I'm confused by some of this, because I've noticed that the old collection accounts keep refreshing as new debt once a collections agency sells it to another collections agency. What is that about?! I'm ignoring them, but I'm wondering if its legal to do that in CA? They are making it seem like its new debt, when its from 2009, but just keeps getting sold off every couple of years. Has anyone had this happen? How do you get around that?

[russellhartz]

making a payment, , , restarts the clock, ,,another reason to not send any payments

[robertlangen]

What about Auto repossession, resold the car and wants me to pay the difference!!

[antbanks]

Morning G, thank you for sharing your wealth of knowledge to help others that are helping themselves, like myself (Learn It, Do It, Teach It) thanks again and I will do the same when I get there

[georgesenda]

You look so much younger without the beard. Good look. Hope you had a great Thanksgiving.

[taragibson]

What if Target charges off the account to a collector. The collector sends you a collection letter and says you have 30 days to respond. Do you respond?

[donovangreene]

First response should be to challenge everything! I've had 2 year old repo taken off my credit by disputing.

[justexcel]

Maybe I've been watching Ghost Adventures for too long, but at 27:21 something unexplainable moves down the screen...and it looks like one of those energy orbs :-)

[timfisher]

I was in a wreck and after multiple surgeries all my credit cards went to collections during this spinal nightmare I missed the 30 days to respond and verify anything plus my memory was messed up to the extent that I was getting lost in my own neighborhood and through the last year of the three years of surgeries I have been sued and garnishments are in effect even though I haven’t had a real job in almost 4 years. Am I screwed forever or what?

[romerryllfisher]

I've had agencies call me DAILY just before the statute of limitations was about to expire. I told them I wasn't paying and to stop calling. They gave up after a couple weeks. SMH

[adaiyah-zerahbahtyahudah]

Hi, I have a debt that was turned over to a law firm. They are attaching add'l chgs to the original debt. They have not garnished my wages, neither have reached out to me in any way. I want to pay this off b/c I want to buy a car. My question is, do I have to pay the add'l chgs this law office has attached? The original debt was approx $500. This law office is saying I now owe $653. I haven't made any contact with this law firm yet. Any guidance you can share as to how to take care of this would be appreciated