by angella » Wed Jan 21, 2009 07:57:56 AM
Are you sure the collection agency has a judgement against you? Did you go to court? Did you get papers to go to court? Did you get an offical court copy of the judgement? If not, there is no judgement.
If there is a judgement and you either went to court and lost or ignored it, you might as well take the 15% off since that's likely the best you will get. If there is a judgment, but you were never notified of the proceeding you can go to court to have it set aside.
If there is no judgement, how long ago did you make your last payment? What province do you live in? A letter signed by a collection agent purporting to be "from the legal department" with a non existent judgement against you is dynomite... and you're holding the power to light the fuse.
Personally, I suspect there is no judgement.