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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Collection Agency Settlement Letter Date:  2/22/2005  5:12 PM
Author:  Fuskie Number:  197963 of 312189

I seriously doubt they care where the money comes from, but your friend must be really true if they are willing to do this for you. If you have it in writing from the CA that they will do X if you do Y, then they have to honor it otherwise you can take them to court. But don't accept a verbal approval of your offer, or a written acceptance that does not restate the details. Your only ammunition is what you can document that they said they would do.

If you have had perfect credit for 7 years, then is the debt the CA is going after older than 7 years? If so, why are you bothering? Most debts drop off your CR after 7 years. Don't fall prey to a CA that is trolling and hoping to hook you into reaffirming your debt. First, they have to prove to you that the debt exists and is yours. Then you can make an offer that includes paying a percentage of the debt and they will notify in ALL THREE CRAs that the debt has been repaid BY CONSUMER. All correspondence in writing sent via certified mail. Preserve all responses for as long as the debt would be valid.

Also, becareful of scum sucking bottom dwellers (no, not the Mets) who trick you into reaffirming a debt that is past the statute of limitations or is not yours by convincing you to make a payment or suing you with the anticipation you will not show up in court and the judge will rule against you. Both of these unethical actions can legally obligate you to a debt you do not actually owe.

Who reminds you that the biggest weapon the CAs can wield against you is pressure and intimidation...
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