Can I ask a collection agency to buy my account from another agency?

Question

Here's the story: I have a severely past due account from Sprint (my first cell phone=ripoff!) in the amount of $652.00. Debt Recovery Solutions had my account at first but I wasn't able to pay them at the time. Now Jefferson Capital Systems has bought my account from DRS and offering me some kind of "credit card" deal consisting of me accepting their MasterCard and paying off my balance in full. They say if I'm late with a payment they will give negative reports to the credit agencies. Today my sister received a letter from Arrow Financial Services and they are offering to settle her debt (from a credit card) of $715.12 all for $286.05! I was wondering could I call or email Arrow and ask them to buy my account from JCS so I can get a reduced settlement deal like my sister's? Keep in my that I am a full-time college student so I'm kind of broke!! I know it sounds weird but I would be able to make a smaller payment to get my credit report back up to par. Any help?

Answer 1

Hi,

I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It's legitimate. I came across this company on NBC News Special Edition.Check it out here:

http://starturl.com/tyjxb

Answer 2

I bought Kevin Trudeau's book Debt Cures, and was disappointed, then found this website and there info was a lot more helpful and concise, without any fluff or any of the bull Trudeau's book had.  Check it, if you want, I think it'll help: http://www.TheTruthAboutDebtCures.com

Answer 3

Oh my, where do I start.

Just curious, is your sister's debt beyond the Statute of Limitations (make it impossible for them to sue her for the debt)?  You think that may be the reason why they are offering such a huge discount?

Arrow is one of the "bottom feeders" in the credit world, and they are HUGE!  Another of their favorite tactics is to make such an offer. But then they turn around and sell the unpaid balance to another collection agency. You think you have paid the account off but that's not the case.....you got suckered.

And I never heard of a collection agency offering you a credit card!  That's amazing!  You obviously can't pay your debts, but these nice folks are gonna offer you a line of credit?  Are you really silly enough to fall for this offer?

Just proceed with caution no matter who owns your debt, they are NOT trying to do you any favors.

Answer 4

Simply cutting a check to a collection agency won't magically fix your credit. ..whatever collection agency you deal with, you need to get a written agreement called a Pay for Delete agreement that they'll promise to remove the item from your credit report upon receipt of the agreed-to amount...Get this agreement PRIOR to paying them.

Don't accept verbal promises from debt collectors and never give them direct access to your bank account for paying.