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 Posted: Tue May 15, 2007 10:16 am Subject: Should I seek a settlement or not |
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Although the creditor closed my account (I owe a about $3,800.00), I have made payments consistently for 2 years. Without missing a payment, I just received a letter from a collection agency demanding the full amount. Should I try to take a settlement or not?
Thanks
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e430nbu09
Joined: 15 May 2007
Posts: 1
Debtcc Points: 44
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| Posted: Tue May 15, 2007 10:55 am Subject: |
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Why was your account sent to the CA when you were paying to the original creditor? Did you default before it reached the CA?
I believe you can still work out arrangements with the original creditor because probably, your file is in their system. They might have hired the CA for the collections. Don't forget to get the PIF letter once the debt is paid.
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mcranberra
Joined: 14 Aug 2006
Posts: 527
Debtcc Points: 7151
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| Posted: Mon May 21, 2007 7:11 am Subject: |
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Sorry. My computer stopped working. My account was placed in collections, although I continue to pay more than the balance due. I have to chcek my records, since so much went on after HSBC took over Direct Merchant credit cards.
Thanks
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