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 Posted: Sun Jan 27, 2008 7:26 pm Subject: Dealing with original creditor |
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I have a 3 year old charged off credit card that has not been sold to a collection agency. The original balance was about $200--of course now it's over $700. I would like them to validate this debt--should I send them the DV letter?
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cdollar
Joined: 08 Jan 2008
Posts: 225
Debtcc Points: 4055
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| Posted: Sun Jan 27, 2008 7:33 pm Subject: |
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IF you intend to pay it off...send the DV letter ..and then make payment arrangements. If you can call them and offer a lump sum you may be able to close out the debt.
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If you think you can, you can...if you think you can't, your probably right...
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Morningstarr430
Debt Samaritan
Joined: 13 Jun 2007
Posts: 2337
Debtcc Points: 39294
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| Posted: Sun Jan 27, 2008 7:37 pm Subject: |
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This is one of those high rate junk credit cards--I don't think the company is even in business anymore. If I don't get a response, what would my next move be?
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cdollar
Joined: 08 Jan 2008
Posts: 225
Debtcc Points: 4055
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| Posted: Sun Jan 27, 2008 8:59 pm Subject: |
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i would dispute it with the credit bureau's...just remember that when you make a payment on this account it starts the sol again...make sure that it isn't close to falling off. I am not saying you shouldn't pay it I am just saying check the sol for your state.
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ladybug
Joined: 29 May 2007
Posts: 2745
Debtcc Points: 24743
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