In June or July of my wife and I bought a new house, and we financed a very nice washer and dryer through GE Money. We made all of our payments on time, kept records, and thought we were all paid up. Now a couple of years afterward my wife gets a call from a collection agency claiming that we still owe $2500.00 on a $1500.00 loan. Huh? We dug up our original contract, which shows that we made an initial $375 payment. We payed electronically with 2 different bank accounts, and dug up all of those old statements proving that we had paid the full balance.
The collector went on and on at the top of his voice, not letting me get a word in edge-wise about my bank statements were useless because the electronic transfer of funds did not specify the account number that the payments were being made to. Checking with the bank, I found that it was true. My ACH transfers did not cite an account number, but my credit report shows that I only have one revolving credit account with GE Money.By default this should be adequate to prove that the payments were made to the correct account. Not so, said the collector, I don't have a leg to stand on, and if I acknowledge that I owe, then they would drop $1000 off of my balance, but I had to agree right now, and that no he would not give me time to get more info from my banks. It was a one time offer, and that it was a one time payment, no partial payments would be accepted. I told him to do what he had to do.
Then he began berating me for the better part of a half hour about no judge in the country is going to hear my case, and that I am just up a creek. What does he expect me to do? Just pay him $1500 that I don't have right then and there just because he claims that I have no right to due process? I guess we will see how it goes in court.
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