Too good to be true?

I made an extra payment to the collectors and although I entered their 4 year pay off plan, I got a letter today acknowledging receipt of the $100.00 extra I sent to them, and he says the balance owed is $1100.00.

This would be incredibly cool and it means I only have another four months to pay that off!

I’m calling them tomorrow to confirm that. What are people’s opinions on this? I was told I am paying only on the balance and so this leads me to believe I’ll be paid off very soon. They said the interest was already paid…. All so confusing! I’ll call then tomorrow

Someone has probably answered this by now, but do call to be sure the amount owed is correct and do definitely keep all written communication. You may want to ask them to send you a letter with the exact amount, and never throw anything away from these people. In other words, don’t just take someone’s word for it over the phone because these places can be ruthless. I do hope they meant what they told you and that you won’t end up owing as much as you thought. That would be great.

I have all papers from this bunch, and the amount they stated is in writing, on a letter dated 2/14/07 on their letterhead. I am so hoping to be DONE with them!

I did call them, Had to leave a message…. and am planning on socking this down early. I cannot afford to send the $1100.00 in one shot, but atop of their $300.00 a month, I’ve added an additional $100.00 and such when I could afford it. I would love to be free of this sooner than expected!