Well I will start from the beginning I have a 2004 old collection account with southwestern bell which they have sold the account to “MCM better known as MIDLAND CREDIT MANAGEMENT†I pulled my credit report and notice that midland was on there so I “disputed†it with the credit report agency. Well I look online at my disputes and notice that it had been “VERIFIED†by “MCM†so what I did next which I have been reading a lot here on the forums was to “DV†them so I did and instead of receiving a answer to my “DV†I have a letter from them looks something like a settlement offer. The letter states:
“Dear sir you won’t want to miss this settlement opportunity offered to you by “MCMâ€
recognizing that you may have gone through some financial difficulty and have been unable to satisfy your account, we would like to offer you a positive flexible option to
resolve your account for 40% off the balance. If we receive payment by 03-02-2008 in the amount of 560.33, we will consider the account balance paid in full!
To take advantage of this offer please call toll free 800-282-2688.
My question is what do I do next? And to add to this problem “SOUTHWESTERN BELL†is still on my credit report for the same dept which they sold to “MCMâ€
If you can make the payment that's great! Atleast you already have something in writing from them incase they don't correct it. I would send the payment to them certified mail and if they don't remove it from your credit all you should have to do it send a copy of their agreement along with your payment receipt and I would think the credit bureaus would remove it immediately. That one of the biggest problems with debt collectors is that they want you to send them money without any agreement made in writing which can get people into a lot of trouble. Good luck
Hi sugar2008! By law the creditor is OBLIGATED to supply you with the DV information you requested.Make them do their job. If they made settlement offer ,they may not have info to supply. If they can furnish info ,i would send them a PAY FOR DELETION letter found on this account with settlement offer on it.Dont offer them any info.If they don respond to DV after 30 days send copy of DV along with another dispute letter to credit bureaus. It will take time and patience but may work in your favor.** BEST OF LUCK!!**
I agree with fasfeed on this one, make them validate it. If they want the money bad enough, they will validate and you can move on with your life.
Even if the debt is legitimate, the collection agency is bound to validate if you have asked for it. They must give their proof of ownership before you start paying them off.
I agree with Fasfeed here.