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Yesterday I got a letter from CACH,LLC stating I owe 1,557.63. I called as this is an old debt. I want to settle. They agreed to 900.00. I gave them 2 checks and routing numbers to take 2 payments of 450.00 each on the 14 and the 28th. Did I do the right thing and they assured me this would be the end of it.
I am not sure that you did the right thing or not but I can tell you what your next step should be. You need to get a paid in full statement from them as soon as it is paid off. Then wait about 2 weeks and pull your credit stateemnt and see if it reflects what you have done.
written agreement
Hi Guest,
Can you tell whether or not you got the agreement in writing? Do you have any written proof of the payments. If you have none of these, then there are chances that you may have to face problems later. They can deny that you have paid off the dues. Moreover can you tell how old the debt is?
Thanks,
Aaron
If you don't have a written agreement to settle I would stop payment on the checks.
there are two critical areas.
the $900 settles the account in full
how they will report this on your credit.