Originally Posted by
stbloc
Just like you said. Key sold if off for penny's on the dollar. Now you can offer the collection agency penny's on the dollar to settle it. Why pay Key? Personally I wouldn't pay anyone at that point. Eventually it will go away. Not much recourse they have on a unsecured loan.
The collection agencies offer about 40% off- not pennies on the dollar. I figure that they bought the loan from Key for pennies on the dollar.
Yeah I would never pay the collection agency. I had ended the last post with "The collection agencies can **** up a rope.", but when the forum edited out the word **** I went in and just deleted it.