Bobby in Florida give this advice: “Here is a simple way to deal with credit card companies and their “predictive dialers” systems.
1. Go to a online FAX company and sign up for the service. They will assign you a phone # for about $10 a month.
2. Get a PO Box for about $21 a month for 6 mos. (you will not be renewing any of these services after 6 mos.)
3. Get this info to the creditors by mail or phone.
4. If they continue to call, just say there is a new number for the party they are trying to reach. They will try to trick you by saying…Hi…is this Bobby? Never acknowledge your identity or they “have you”. They can’t even talk to you until they can verify they have the right party.
5. Next, start saving your money from the payments you aren’t making.
Credit card companies are required to charge off after 6 mos. of no payments. If you pay even $5., the clock starts over again. Don’t. The predictive Dialer will call your fax # and get nothing, and keep trying it as nauseam, but you could care less as you’ll never see the calls.
Call them up toward the end of the 6th month when they will have to charge it off. YOU have all the power now as the next step is to sell your acct to a collection agency for 6-8% of the balance.
Tell them whatever, sick, blah, blah, blah…doesn’t matter now. Offer 10% settlement, they’ll come back with 20% (they’ll ALWAYS take 20% at this point since they are going to sell it next week for 6-8%. Do whatever you have to to get it settled here. The collection agency will take even less but another blot on your credit as it will show up twice now (two diff companies.)
When you settle, get it writing immediately via your online fax #.
Keep this agreement FOREVER as unscruplous people will still try to get you to pay the difference again! Don’t forget you’ll have to pay the tax on the difference (free money) but then your income probably ain’t great if you’re reading this.
The Settlement will go down on your CB as “settled in full for less than the full amount”. This is 10 times better than a repo, charge off or foreclosure. Call the CB after three yrs to have it removed. Viola!”
Editor’s Note: The opinions are those of the submitter. Our research includes speaking to executives of online fax and phone service companies. With over 340,000 foreclosure notices in March 2009 alone, many people are using these services for some purpose.
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