Has anyone in Florida settled with a California(or out-of-state) collections agency?
Someone totaled my car and the police towed it. 2 years later I find out that I am being charged with the disposal of the car and a collections agency is telling me I can't settle for less than the orginal charge of 500. They took off the interest since I did not know about it until I contacted them but they won't settle because of a supposed law in florida that does not allow settlement. can anyone confirm this? I'm not saying I believe the bill collector, I know they want to get rich like everyone else does......I just want to know if such law exists. thanks.
There is no "law" that states a company can not settle for less. If you can get a company to agree they can settle for any amount that is mutually acceptable. The problem here is what it appears you are trying to do.
If I understand you correctly, you owe for a tow bill. You contacted them and they told you the bill was for x amount. But since you did not know about it they brought it down to the ORIGINAL amount of $500. So this is now the same amount if you had been notified 2 years before. The only difference is you are now trying to pay LESS than you would have 2 years ago. The chances of getting any company to agree to this is slim to none. Especially if you are trying to get them to settle for some really low amount like $100.
Now, if you dispute the amount that is a different matter. You would have to send them a Debt Validation letter stating that you want proof of the amount. This would include a copy of the bills for the towing, storage, and disposal of the car. But if that does add up to $500 dollars you have two choices. Negotiate with them to pay off the $500 and they will remove the collection account or have it remain on your credit report for a total of 7 years hoping that they do not file suit against you.
