Asset Acceptance (NJ Credit Card)

I had a Wachovia CC which was charged off in 2007. Went to CA at $1650 and they sent me offer letters every month, to an extent that finally they offered me $250 settlement. But because of bad economy i had no job and i couldn't even pay that. Finally, i think last year in November it was sold to Asset Acceptance (AA) and i have read a lot of bad things about this company. I never got any letter from them, although their Customer Rep told me they had returned mails (100% lie) from November. This June they hit my Credit Report and my Score dropped 40points. Considering this companies reputation & the fact that they don't shy from taking ppl to court could anyone suggest me options 1) Can $250 settlement offer from previous company work here? 2) Does pay for delete only work on full amount or there is a possibility AA can agree for PFD at settlement amount too? 3) I am going to send them DV letter but should i also send goodwill letter to get off my Credit Report? Any help would be appreciated.

Asked on 7:43 am Jul 20th 2011

pradyots
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The offer from the last company won't work here. You will have to negotiate with Asset Acceptance and set up a new payment plan. It will be the discretion of the CA whether or not they will accept your request for pay for delete. You will have to negotiate for it. You should send a debt validation letter in order to find out whether or not they really own your debt. However, you can send a goodwill letter once your debt is paid off and can ask them to remove the negative information from your credit report.

Answered on 8:57 pm Jul 20th 2011

Anna Sweeting
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Anna is right. You should have accepted the $250 settlement offer way before. Now you have start all over again. A lot of collection agencies don't prefer to accept PFD offer. But there is no harm in trying. The same thing is applicable about the Goodwill letter also.

Answered on 9:49 pm Jul 20th 2011

Anonymous

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THey will not pay for delete. Goodwill is usually extended for good customers, to keep your business. Asset Acceptance has no desire to keep your business or have you return. Goodwill is not a term of the collection industry but a term that is used by the creditors themselves.

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Answered on 10:29 pm Jul 20th 2011

SOAPLADY
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What is the best way to send the DV letter? Regular mail, certified mail, fedex with tracking?

Answered on 8:07 am Jul 21st 2011

pradyots
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