CA contacting me with a settlement offer..what are my option

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Tammy

Joined: 11 May 2009
Tammy's page
Posts: 3

112 Magic Points

Subject: CA contacting me with a settlement offer..what are my option

Mon May 11, 2009 7:15 pm

A CA sent me a letter stating that I had 30 days to respond to the letter and They also had in there that they would settle for less of an amount owed. I sent them a letter stating I would accept the settlement but not without a written agreement. I sent them an agreement stating that I do not acknowledge receipt of this debt but to conclude the matter quickly I will pay 400.00 in full to satisfy the debt. Once they receive my payment the report to all 3 credit bureaus "paid as agreed" and remove all references to deliquency on this account. It also stated that this is a restricted offer If they agree, they would sign and return the letter and I will sent payment by certified mail and I will make no payment without a written agreement. All this was to be due on the 29th of this month. Have not heard from them. What should I do now. Should I consult an attorney or should I ask for them to validate it debt. I have called and according to them they do business there way not according to what I want. They said that they will send me a payment coupons for the entire amount. What should I do...

rachael

Joined: 11 May 2009
rachael's page
Posts: 234

6581 Magic Points

Subject: Handling collection agencies

Tue May 12, 2009 4:54 am

Hi Tammy,

First of all, have you verified whether the collection agency (CA) has either purchased or has been assigned by your original creditor (OC) to collect debt from you? Contact them and ask them to produce the original contract with your OC or any papers to prove that they have purchased your debt. Check whether your debt is within the Statute of Limitation period. If your SOL period is over, making any payment causes it to restart.

Request a debt validation (DV) with a proper DV letter sent to them by certified mail with a return receipt requested. The CA has to stop all collection practices until they have validated your debt and sent you in writing. Only when they have validated the debt, negotiate with them and settle your debts.
_________________
Looking forward to a debt-free life.

Tammy

Joined: 11 May 2009
Tammy's page
Posts: 3

112 Magic Points

Subject: Collection Agency maybe breaking the law

Tue Oct 27, 2009 4:57 pm

I am having issues with asset acceptance. The first validation I sent they just sent me the name of the orginial creditor on their letter head with interest and what I owe now. Then I sent them another validation same one and emphasized the proof I need they sent me another letter back stating that after their investigation of the information they have and the information they received from the orginal creditor that they concluded that the information is right and that they have marked my account as disputed...this is the same response I get when I sent it out a 3rd and 4th time....what are my options with them. I was thinking or writing the FTC.....

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