What's the consequence of being sent to collections?

Asked over 5 years ago - Pasadena, CA

I refuse to pay a settlement of $350. The company initially wanted me to pay $900, but is willing to settle for $350. I still do not want to pay it, but I'm told I will be sent to collections for $900 should I not pay $350.

Attorney answers (1)

  1. Alan James Brinkmeier

    Contributor Level 20

    Answered . If the creditor will sign a release saying that a $900 debt you owe will be satisfied for $350, make sure you get a valid signature as proof you have paid in full. Having a lawyer on your side to insure you have the satisfaction and / or release agreement document right might be something you consider.

    Good luck to you.

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