Sprint turned me over to a collections agency. What should I do?

Question

Sprint turned me to a collections agency. I only owe like 400 dollars, but I don't want to call the agency until I have some money because I hear if you can pay at that second you call, they sometimes cut the cost in half or more? I don't want to call yet because I have NO MONEY at all. I JUST got a job & I have other more important bills to pay. Do I have a certain amount of time to call them & make arrangements or what? Someone clue me in on some info, PLEASE!!!

Answer 1

Someone else may have experience in this.  If you decide to call, work out a payment plan and see if they'll take 10 dollars.  Your credit already has been pinged, so there is no reason to panic at this time.

http://answers.yahoo.com/question/index?...  tells about how to get the bill removed from your credit report once it has been paid off.

I couldn't find anything else about how to negotiate with them.  I don't think a $400 in collections is going to ruin your credit if you don't have any other problems companies have reported:  other debts, late payments, etc.  

I wish I could be of more help.

Answer 2

Well its turned over already now, so go ahead and get some money up and then call and ask them if they will settle at 40 or 50%, depending on how new the account is and the agency they may or may not go for it but it doesnt hurt to ask. Its already on your credit and thats about the worse that can happen they cant report it twice so I would just call when I was ready to settle.

Answer 3

LOL @ "I only owe $400"...doesn't matter if it's $1 man...you owe it. What you heard is just that hearsay...don't worry about it....you can contact them and make payment arrangements...of course 90% of the time their gonna say 'no' like it's the end of the world simply because they want their money. Pay what you can...if their jerks about it..send them a money order for whatever you can afford (keep a copy) and see if they don't take it...if they do...that's an automatic agreement. Also try and bargain for a 'pay for delete'...make sure you get that in writing.

Going forward don't let your accounts go into collections in the first place.