No. of Recommendations: 0
I've written a dispute letter to ARM, asking for verification. They're offering to settle a $469 claim for $399, but I don't want to do anything without seeing some documentation.

Does this sound right, or am I missing anything?

Yup. Don't do anything without the paperwork, and don't agree to anything that isn't in writing.

I don't understand how what should have been an initial bill, a couple of late notices, and maybe a final notice went missing.
Something like 20 years ago, mom opened up a card at Dillard's to take advantage of a 20% off offer. We never got anything from them until a 90-day late notice arrived with the accompanying "WTF?!?" After calling their people, it turned out that whoever entered the data from the application had fat-fingered the ZIP code, and it wasn't until someone at the post office said "Hey, $CITY should be this code, let's just forward it over there and maybe they'll know what to do with it," that we finally got the bill. Once they realized it was their error that kept us from getting the bills, they cancelled not just the card, but all late fees and penalties as well.

Whether or not that's possible in your case, I can't say. Usually once an account is sold off, working something out with the original creditor beyond finding the reason why you didn't get the bills, and if it's on them, forcing them to close it in good standing, isn't an option.
Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.