DV response from CA Help

Submitted by antics6891 on Sat, 05/30/2009 - 04:54

I have sent a DV letter to a CA and they responded with a single page response. The letter was real brief and only stated the original account number, the OC as well as the account number, the charge-off date, the charge-off balance, and the current balance with accrued interest. My question is wheter or not this is constitutes a validation? What should I do next? Thanks in advance

Hi antics, if they have validated it with account number and all the details provided by them then chances are it is more valid.(nobody gets your account number )

Make sure you talk with them on phone also and confirm it. :lol: :lol:

Sun, 05/31/2009 - 06:26 Permalink

Hi antics,

I think the collection agency has given the required information, so they must be genuine. You can request for a settlement plan. You can negotiate for a amount that is 40-60% less than the actual amount. If the CA does not agree to a settlement plan, you can also request for a payment structure that is affordable.

Before making any payment come to a pay for deletion agreement with the CA. Send your Pay for Deletion Letter through certified mail with a return receipt requested. You will find a sample Pay for Deletion Letter in the Letters of Credit section.

Mon, 06/01/2009 - 04:13 Permalink
Andrew (not verified)

I have $2000 outstanding on my credit card and its mounting. I would like to know if I should ask the credit card company for a settlement or should wait for them to give me some offer. I am very scared as I cant pay the entire amount.

Mon, 06/15/2009 - 11:20 Permalink

Hi Andrew,

I think you should contact the credit card company and request a settlement. The chances of the company accepting your settlement offer will increase if you are able to pay a lump sum. You can try to convince them by explaining your financial situation and your willingness to pay. It is sometimes possible to reduce the debt by 40-60% of the actual amount.

Good luck to you and keep me informed.

Mon, 06/15/2009 - 11:37 Permalink

Hi Andrew ,

I believe on one simple aspect that if a person is willing to pay the amount then the next person also co-operates.I think you should make it clear to credit card company that you want to pay and thus it will not be problematic in coming future.

It is really advisable that you should ask for any settlement.Most of the time banks are happy when they get their principle amount back.So at least the are in no loss condition.you may get a good deal just because of this.

:lol: :lol: :lol:

Tue, 06/16/2009 - 22:00 Permalink