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Negotiating settlement after DV letter

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cinnamngrl

Joined: 01 Nov 2008
cinnamngrl's page
Posts: 1455

6339 Magic Points

Wed Feb 24, 2010 2:31 am

I don't think you should settle unless they respond to the DV. I do the think that if OCC gets involved, Crap 1 will be pushed. this may be a good thing or a bad thing.
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jtcarpenter

Joined: 11 Jan 2010
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Posts: 36

662 Magic Points

Subject: DV letter response

Sat Mar 20, 2010 8:07 pm

Cin, I just got a response today from Cap One, not the CA that was calling me on the second DV letter I sent out to the second CA. They sent a copy of the customer agreement and the last 3 monthly statements but said that since the account was apparently initially set up either by phone or over the internet they do not have a paper application to send, but that the above verifies that they have a valid contract with me. So apparently the CA was just representing Cap One and they still retain the debt and are asking for payment in full. It states that they reserve the right to "take appropriate action if you fail to pay the balance in full." What do I do next? This is for a credit card account that I still check online on a regular basis. I am pretty sure I will be able to pay it off in the next couple of months but I still don't know exactly when. Should I call them? Explain my situation to them? Or just keep quiet?

cinnamngrl

Joined: 01 Nov 2008
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Posts: 1455

6339 Magic Points

Sat Mar 20, 2010 9:34 pm

Could you remind what the DOFD is?

date of first serious delinquency?

So that stuff from Crap 1 is their DV. Are their records accurate?
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jtcarpenter

Joined: 11 Jan 2010
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Posts: 36

662 Magic Points

Subject: DV letter response

Sat Mar 20, 2010 10:23 pm

the last payment made to them was in September of 2009. Yes their records are accurate. They just didn't say anything about NCO the CA that had been calling me nor did they provide any information stating that they had authorized them to call me or even contact me.

cinnamngrl

Joined: 01 Nov 2008
cinnamngrl's page
Posts: 1455

6339 Magic Points

Sun Mar 21, 2010 2:20 am

Nco needs to tell you whether they own the debt or are assigned to it. you can only negotiate a settlement with the debt owner.
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jtcarpenter

Joined: 11 Jan 2010
jtcarpenter's page
Posts: 36

662 Magic Points

Subject: DV Response

Sun Mar 21, 2010 4:45 am

It seems pretty clear from the documents that its Cap One that is still the owner of the debt and they were just using NCO to make calls to me.

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