Help with Collections

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Suny1
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Subject: Help with Collections

Mon Apr 06, 2009 12:11 pm

Hey everyone I've been reading through this site for the past few days everyone has seemed so helpful with others issues. I'm hoping that someone can help me with this.

I received the following letter Friday from a collection agency saying that they are willing to reduce my balance by 30%. They say that my balance owed is $9048.02 but my settlement balance is $6333.61.

However, according to my credit report the balance charged off from the original creditor was $6,655.
Should I send them a DV letter and mention this? Or just send them the DV form letter I found here and not mention it at all?

Any help would be greatly appreciated! I've had a rough time financially the past few years and am trying to work my way out of everything.

nucknfutsim

Joined: 21 Mar 2009
nucknfutsim's page
Posts: 23

753 Magic Points

Tue Apr 07, 2009 5:08 am

in my opinion you should just sent them a DV letter and not mention the amount but you should make them prove what the amount is for , intrest fees whatever? you know the correct amount so where you should start is to send the DV letter and find out exactly what is is they have. good luck and keep us posted

carol

Joined: 27 Jun 2006
carol's page
Posts: 1307
Location: Los Angeles, California

29555 Magic Points

Tue Apr 07, 2009 6:45 am

Yes, you should always get the debt validated to be sure that the CA owns the debt. If they can validate the debt, you will get automatically get the details of the debt you owe including interest charges and late fees. Now, before paying off the debt, you should get the settlement agreement in writing.
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suny

Joined: 06 Apr 2009
suny's page
Posts: 2

68 Magic Points

Tue Apr 07, 2009 11:45 am

Thank you for your help! I will get the DV letter out! I will definately let you all know what happens

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* Disclosures:

Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
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The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.