3 replies to this topic

[Catalina_]

I am partners in a small corporation. RMS is trying to collect on a debt (due in Aug '11) we owe. Now that the corporation has money, I do not mind paying the debt - to the original creditor - but I think it is too late for that. So I am trying to figure out if I should pay RMS.

Will it help our corp. credit report? I know business credit reports are very different from personal and I am sure we have gotten dinged on the corporation's report for this. RMS said they would state on our credit report that the debt was paid. But does that help?

Does RMS collect for their clients or do they buy bad debt and collect for themselves? If it is not going to the original creditor I really don't want to give RMS any money.

They have offered a payoff of about a 30% reduction of what is owed.

Thanks for any input you can offer.

Cat

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[Brndnh721]

I am partners in a small corporation. RMS is trying to collect on a debt (due in Aug '11) we owe. Now that the corporation has money, I do not mind paying the debt - to the original creditor - but I think it is too late for that. So I am trying to figure out if I should pay RMS.

Will it help our corp. credit report? I know business credit reports are very different from personal and I am sure we have gotten dinged on the corporation's report for this. RMS said they would state on our credit report that the debt was paid. But does that help?

Does RMS collect for their clients or do they buy bad debt and collect for themselves? If it is not going to the original creditor I really don't want to give RMS any money.

They have offered a payoff of about a 30% reduction of what is owed.

Thanks for any input you can offer.

Cat

How late is it and has it been charged off? I'm assuming it has been charged off if they are willing to take 30%. What is the amount?

[KYBOSH]

You can try DVing RMS to see if the debt was bought by them or simply assigned. Although DVing may not get you a response since the FDCPA doesnt apply to business debt.

You can also write the original creditor to see whats what. Dont be too eager to pay the full amount either. Everything is negotiable.

Is the debt reporting on your biz or personal reports?