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Posted: Tue Nov 14, 2006 9:28 am Subject: Debt in collection

I've been contacted by ARS collections regarding a credit card bill I let go into collections --current amount is $23,738.84. They're offering me a debt settlement of $14,250 if I can pay the amount in two weeks. They will be faxing me the details. I do not have this amount and according to the rep I spoke with, no other payment option is available. He suggests I take out a personal loan. They will be faxing me details shortly. Who would loan me $14,000 at this point?

Posted: Tue Nov 14, 2006 12:33 pm Subject:

Check this debt if it's a valid one. It's a lot of money and you don't want it to go to someone without valid reasons.

Get the debt validated by the CA. learn about your rights in the fdcpa law Draft a letter to the CA's mailing address and wait for their response. You must review the account if they have got it right from your creditors. Once verified, make your payment arrangements.

Posted: Tue Nov 14, 2006 12:38 pm Subject: In same situation

Really would like some input. I am in the same situation. They only give the options of really large payoffs which could be paid in three installments. If I had an extra $1700 for the next three months to give them, I wouldn't be in collections. They are very unwilling to negotiate. Thanks in advance.

Posted: Tue Nov 14, 2006 4:59 pm Subject:

hope4debtfree, what company is your acct with??

Posted: Wed Nov 15, 2006 1:36 pm Subject:

It is with IC Systems. I got their fax number today and I am going to send them a letter requesting they stop calling me. If you know anything else about them it would be greatly appreciated.

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