Hi all,
Looking for some direction in how to pay off/delete my collections account with VZW.
Long story short I got royally screwed in my marriage with my ex wife and I got stuck with a $4375 collections account with Verizon, with several other collections accounts that I’ll be taking care of with a small savings account I’ve been slowly building. My main concern is the VZW collection.
I called Verizon. It was owned by a collection agency but now for some reason Verizon owns the debt again. I made sure not to validate the debt for them by providing my address, I’ve heard they try to trick you into providing details so they can update your collection account under the guise they’re “verifying your account”. They gave me 3 options, and none of them I can swing. I can either pay in full, pay in 3 installments, or settle. All three amounts are way out of my budget. No monthly payment options. I even asked.
I have no idea what to do. I can’t get approved for anything and my credit is hovering at 550. I have a car loan with a co-signer that I’ve paid on religiously for several months and I haven’t seen a single increase in my credit. This debt is on my mind every day and even if I fully withdraw a very young 401k I have, I still don’t even come close to the settlement amount.
The debt was placed in collections when I lived at a different address. Can I dispute the debt due to them having an incorrect address and have the debt deleted if they can’t verify? Any other avenues I have that don’t involve loans or needing credit? Any advice is much appreciated.