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Posted: Tue Oct 23, 2007 1:50 pm Subject: BCR and Encore

Has anyone had any settlement dealings with BCR (Bureau of Collection Recovery) or Encore? Both are collection agencies. I am interested in hearing what they might agree to as far as percentages, if anyone has dealt with them. My DMP counselor suggested 80% of the debt. I was hoping for more! Am I being greedy?

Posted: Sat Oct 27, 2007 4:55 am Subject:

Hi and welcome to the site. If you check back through out the day someone will answer your post. In the meantime please click on the "free consultation" button that is just to the right of this post where they can help you in depth with your situation.

Posted: Sat Oct 27, 2007 3:47 pm Subject:

Have you sent them the debt validation letter? Did they properly validate what they say you owe? I haven't got to settlement with any of my CAs yet, but common sense tells me that the older (therefore harder to collect) debt you can very likely get a lower percentage. If the debt is past SOL, you can possibly get even better percentage.

Also offer slightly lower so you have haggle room, where they will counter with higher (or just deny) then you can raise it a bit until you both come to an agreement. Also, no matter what settlement is reached, always make sure the agreement includes a delete, otherwise what is the point? A paid in full or a settled in full is just as bad credit wise as an unpaid. Heck, actually your score can drop a bit if you suddenly have an older unpaid change to a settled or paid. And always, -always- get the agreement in writing. If a CA balks, simply say it is for their protection as well as yours.

Guest · Posted: Sat Oct 27, 2007 7:19 pm Subject:

By validaton letter, do you mean that they tell you who they are collecting for? Both of them have it on there letters.
Also what do you mean by "always make sure the agreement includes a delete"?
thanks for the input

Posted: Sat Oct 27, 2007 7:21 pm Subject:

sorry, that was me - forgot to log in

Posted: Sat Oct 27, 2007 7:28 pm Subject:

Validation is so much more! It forces the collector to prove that the debt is valid, not just who it originated from. They must prove that the debt is for you specifically, such as by providing statements, anything with you signature. If they are trying to collect more then the debt originally was, they must then prove that they are legally able to collect the extra, such as state law or by a contract you signed. They also must prove they are legally able to collect, meaning that they own the debt or are acting on behalf of the one who owns the debt.

By delete I am assuming this debt is on your credit report? If so, then you should have it in writing that once you pay it, they will remove it from your report and keep it off (also agree that the account is closed, that any remaining portion of the debt is not to be sold). If it isn't on your credit report, then you have it in writing that it won't ever be put on.

You also want to make sure the debt is within SOL...Statute of Limitations, basically every state has so many years that a debt is actionable...for example in Texas it is 4 years. If the debt is more then 4 years old then they can't legally sue you for it.

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