Hi All-
I just received a settlement letter after a conversation with a Redline Recovery Customer Rep. They are handling my BOA card, it is not charged off, they are just collecting for BOA. The offer was for 35% and I accepted. The terms of the letter state "You account has been place with our office for collections. Our agency is authorized to settle your account for a reduced balance of xxx.xx ... Upon receipt and clearance of the settlement amount, there will remain no further outstanding obligations pertaining to the account." This sounds fine to me as it sounds like they aren't going to sell the remaining balance- what do you all think? I've spoken to BOA directly and they won't even talk about the account with me (they refer me to Redline Recovery) and FIA said the same thing...to talk to Redline and that they will not deal with me directly.
I sent the payment today with overnight delivery cause they wanted my payment by 12/31/09 and really pushed for checking account info but I am not ok with that. What do you guys think? I hope I didn't overlook any details...once this settlement posts, I'll only have 4 more accounts to go, started with 8, so I'm halfway done!!
Posts: 14260
Credits: 110101.42042813 Send message to paulmergel
Quote:
I just received a settlement letter after a conversation with a Redline Recovery Customer Rep. They are handling my BOA card, it is not charged off, they are just collecting for BOA. The offer was for 35% and I accepted. The terms of the letter state "You account has been place with our office for collections. Our agency is authorized to settle your account for a reduced balance of xxx.xx ... Upon receipt and clearance of the settlement amount, there will remain no further outstanding obligations pertaining to the account." This sounds fine to me as it sounds like they aren't going to sell the remaining balance- what do you all think? I've spoken to BOA directly and they won't even talk about the account with me (they refer me to Redline Recovery) and FIA said the same thing...to talk to Redline and that they will not deal with me directly.
I sent the payment today with overnight delivery cause they wanted my payment by 12/31/09 and really pushed for checking account info but I am not ok with that. What do you guys think? I hope I didn't overlook any details...once this settlement posts, I'll only have 4 more accounts to go, started with 8, so I'm halfway done!!
did you send a money order?if not then they can get your account#,and routing info from the check.if you sent a money order then good job.redline can be a pain.
Posts: 31
Credits: 838.35 Send message to neveragain09
I sent a money order yesterday and it should be there today by 12 noon- I sent it Express Mail. I refuse to give them any banking information. The rep wanted to know what bank I used and I told her another bank, even though she doesn't have my account info I still don't even want them knowing where I bank period- they WERE a pain to deal with to.
Just curious to know the delinquent status (no of days past due) when you received call from redline agency....Thanks.
Posts: 14260
Credits: 110101.42042813 Send message to paulmergel
about 60 days.that is when in house collectors called,but couldn't pay.places like redline go to work shortly after that.
Posts: 31
Credits: 838.35 Send message to neveragain09
My account was actually closer to 150 days when I called Redline- they didn't call me first, I was the first person to make contact (BOA still owns the card, they just sent it to Redline to settle on their behalf). The first person I spoke to was a really cruel guy, telling me why can I afford to make house payments and not my credit card with BOA. When I told him I was considering bankruptcy he said "mam, you don't qualify for bankruptcy, you own a home". Bull...I have actually spoken to lawyer about filing before deciding to do debt settlement and I more than qualify for bankruptcy- just cause I have a house doesn't mean I can't file...he was just belittling and inappropriate. Then a week later (this last monday) I got a call from another rep there, much nicer, gave me 35% right off the bat, no fighting, no name calling, so I decided to work with her. My account was only about 20 days from charge off too, so that might have helped my case...
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