Is it safe to pay debt over phone with a electronic check?

Question

i want to pay off an old cc that is not at an outside collection agency, but it is with collections of the credit cards. i want to pay it off before they sue, they already started that process. do you think it's safe to pay over the phone by electronic check? is capital one.

Answer 1

It is safe as long as you get your confirmation number, representative name, and write down the date and time you called. Oh and the persons Id number and department they are in.

Answer 2

I would advise against it.  Collection agents are notorious for not keeping their word.  You agree to pay a portion of the balance by electronic check and they may very well take the entire balance.

Send them a check by certified mail, and tell them they will have it in a day or two.  If they balk, explain you don't have a checking account and need to send a money order, or in the past have been the victim of identify theft by using this method.

As long as they get their money, they won't sue, but make sure you give them a date when they will receive the check by.

Answer 3

Never give personal/financial information over the phone to any collection agency.  Send them a money order or a cashiers check.  Keep a copy of any check that you send them.  The problem with electronic checks is that some collection agencies will keep withdrawing money from your account (which is illegal) or play other games.

Answer 4

First, I would NEVER do a phone check for any reason.  But giving a collection agency direct access to your bank account is the absolute worse idea.  They are well known for taking more, or multiple times.

I would also insist on a written settlement agreement before I paid anything, even if it is the original creditor.

Answer 5

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