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Posted: Thu Mar 13, 2008 5:21 am Subject: Too late to settle an old account?

Hi there. I received a letter from Bowman & Heintz stating that an old Midland collection had been referred to them. I asked for validation of the debt and they say that it is from an old account with Providian with a last pay date of 11/2002 so it is within the SOL. I would like to try & settle this account. Should I contact Providian who is now WAMU, or Midland, or Bowman & Heintz? Or is it too late? Any ideas how I would format the request? Thanks so much for any help.

Posted: Thu Mar 13, 2008 8:11 am Subject:

Did they send you Validation or just tell you about the account? I would send Bowman & Heintz a DV request by certified return receipt Mail. You always want proof in writing before you proceed with anything. Also have you checked your credit report to see if it is being reported?

Posted: Thu Mar 13, 2008 8:20 am Subject:

It sounds like it is past the SOL in most states. What state are you in?

Posted: Thu Mar 13, 2008 8:52 am Subject:

I am in Indiana and I believe the sol is 6 years. The "validation" they sent was a letter on theier letterhead stating it had been a Providian credit card opened in 2000 and last pay 11/2002. This is all that I have received.

Posted: Thu Mar 13, 2008 9:28 am Subject:

I don't think that that counts as validation. They would have to provide a copy of your contract or copies of bills. Not just a statment on thier letter head. You need to send out a DV letter and I'm someone can give a copy of one that you can use.

Posted: Thu Mar 13, 2008 3:47 pm Subject: kjshay

I do believe the debt is valid and I do intend to settle it so I'm not sure if I need to send another letter..........just wanting to know if anyone has tried to settle with an attorney, or if it would be appropriate to go back to the original creditor, or if I should be dealing with the collectin agency it was assigned to? Or is it probably too late to try to settle?

Guest · Posted: Thu Mar 13, 2008 4:51 pm Subject:

If they cannot validate the debt before the SOL expires, which chances are since the debt is so old, you cannot be sued for the balance. If you feel guilty about not paying it back after the SOL, donate the balance to a charity. Better than going into the pockets of greedy lawyers.

Posted: Thu Mar 13, 2008 5:09 pm Subject:

By all means I believe that you should pay the debt if it is valid. I think that you just need to make sure that the debt is indeed owned by them. I have read other posts that report paying a debt just to find out that it is owned by another company, and they come after you a second time. I just recommend that you get proof that you are paying the right people. Just take the few extra steps to make sure you are not being scammed by someone that got a hold of you information

Guest · Posted: Thu Mar 13, 2008 6:12 pm Subject:

ok, so...........who to contact to settle? The attorney? The original creditor? Or the collection agency? Which one??

Posted: Thu Mar 13, 2008 9:09 pm Subject: debt

'Guest'.....i was in a situation, similiar to the one you have. i would suggest to look on your Credit Report and see who is 'reporting' the debt. THEN see if the SOL is expired, or SOON to expire. ALSO..you will see, on your CR when the 'drop off' date is. In most states, if you start paying on an old debt, BEFORE the SOL, the debt 'restarts'. If the debt is CLOSE to the SOL< I would just leave it alone. But, of course, it's your decision what you want to do.

Posted: Fri Mar 14, 2008 12:32 am Subject:

Start with a VD letter to Bowman & Heintz, if they are the ones that last contacted you.

Guest · Posted: Fri Mar 14, 2008 5:22 am Subject:

Can anyone give me a format for a "DV letter"?

Posted: Fri Mar 14, 2008 7:03 am Subject:

Click on the “ Do it yourself” link above …then on sample letters. You can copy the letter and edit it to meet your needs. Other folks may have better letters that they will post or have posted in other threads. You can do a search in the box on the top left side of the page.

Posted: Sat Mar 15, 2008 9:17 am Subject:

ok: Today I received another letter from b&H stating that they have filed a lawsuit and it stated a case number. It said that if I wanted to make payment arrangements, to contact their office. I obviously want to try and settle, should I start at 50%? Should I call, or put my offer in writing?

Posted: Mon Mar 17, 2008 9:55 am Subject: three pronged approach

I don't seem to be getting any feedback on my question, but for the record, here is what I intend to do. Once I receive something from the court showing the amount they are asking for, I am going to send a certified letter to the attorney, also to the collection agency, and also to the original creditor, all offering a settlement of 35% or so. My hope is that one of them will respond favorably! I will follow up on the results of this 3-pronged approach when I have news.

Guest · Posted: Tue Mar 18, 2008 5:36 pm Subject:

Did you send them a debt validation (DV) letter? If you already have, they can't sue you till they validate the debt. If you have not, send one now, certified mail, return receipt requested (CMRRR) and it will buy you some time.

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