I have a old Credit Card debt that was turned over to a collection company called Wyse Financial. On or about 9/30 a representative from Wyse called me and offered me a settlement, who said taking the settlement would stop the phone calls and take my debt out of collections; which I agreed to and sent my payments as requested. During the month before the last payment was due, and unknown to me, about 2500 of Wyse's contracts were "sold" to Zenith Acq. (This information was given to me by Zenith. Of those 2500 contracts about 1800 were in the same situation as me.)
As per my previous agreement Zenith stated that I needed to make my last payment to them and they would continue to request my contract from Wyse and not to worry it would be taken care of. I made the final payment and I felt the matter was closed.
I received a new letter from Zenith now saying that I owed the full amount and they were not able to obtain the original agreement from Wyse. I was not able to produce a letter from Wyse stating the terms of the agreement and since agreement was a verbal "over the phone" transaction Zenith would not honor it and I would have to pay the full amount including a 28% interest on the debt.By not paying it would prompt harassing phone calls and a bad debt affecting my credit rating.
Today I received a phone call from Zenith stating that I needed to resume payments as soon as possible. Now realizing I was being ripped off, I requested from Zenith, a copy of my file with all the transactions from the previous company, which I was told I could not have. The rep from Zenith offered me a deal of no interest as long as I made monthly payments. I agreed to a very small monthly payment to protect my credit rating.
I then requested a copy of the agreement we had just made and she could not send me one. "That would have be generated from their Lawyer." I then asked to send me a copy of the computer screen she was looking at so I would have proof of our no interest transaction and she "didn't have a printer." I then insisted on a statement of what I owed and how much of the balance had been paid and she would "send me a statement with the payment that was owed each month, " and nothing else.
I am contacting a lawyer to see what my rights are ASAP.
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