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Posted: Wed Oct 22, 2008 9:38 am Subject: Settlement Letter Not Signed

BOA sent me a settlement letter listing payments to be made etc, bur it isn't signed! Is this still valid?

Guest · Posted: Thu Oct 23, 2008 3:23 am Subject:

It seems suspicious. Contact them.

Posted: Thu Oct 23, 2008 7:04 am Subject:

have you started making the payments yet?

Posted: Mon Nov 17, 2008 7:57 am Subject:

Did you get the letter signed? I have a similar letter that is not signed for which I am taking help from this forum. My letter is from NCO for settlement of my Amex act.

BLL · Posted: Thu Nov 20, 2008 5:15 am Subject:

Chase and GE MOney nor Citi had a signed copy for me. They sent a letter outlining the details but not signed. As long as they are from the company, NCO is a different stoey - 3rd party.

Posted: Thu Nov 20, 2008 5:31 am Subject:

If it is on the company letterhead you are fine.

Posted: Thu Nov 20, 2008 6:30 am Subject:

Posted: Thu Nov 20, 2008 6:46 am Subject:

NCO represents the client. When I was in collections, our credit card division did settlements all day long, authorized by whoever they were collecting for. Those letters where usually "written by" a Brian Green, a ficticious character whose name was on all settlement letters. Brian Green didnt exist, nor were the letters signed but those settlmenets were still valid. Why do it this way ? Because most clients authorized blanket settlements and with so many settlement offers going out, it was much more time efficient this way. Plus the way collectors come and go, it made more sense to use the generiic name.

Posted: Thu Nov 20, 2008 8:33 am Subject: This is what my letter says:

Creditor: American EXpress Account # xxxxxxxxxxxxxx Our Reference No. xxxxx Balance: $ xxxxxx
Settlement Offer: $ xxxx

Dear xxxx,

Pursuant to your agreement, we can offer you a settlement of $XXXX due by xx/xx/xxxx. Upon clearance of said funds, American Express will be notified that the account is settled .

Please contact us at 888-899-0468 , if you have any questions.

Please forward all payments/correspondence to: NCO Financial Systems, Inc.
507 Prudential Road
Horsham, PA 19044

This is a communication from a debt collector. This is an attempt to collect a debt. Any information obtained will be used for that purpose.

Calls to or from NCO Financial Systems, Inc. may be monitored or recorded for quality assurance.

Do you think its legit. I have got this by email as well as postal mail. the postal mail is just a print out of the attachment they sent to me in email. The email I got is from an account manager and I talked to him on the phone once and also another CA that I was dealing with I have talked with also on the phone. I have also called american express and talked to them and they mentioned that my acct is handled by NCO.

Posted: Thu Nov 20, 2008 9:04 am Subject:

It looks fine. Get a cashiers check and send it CMRRR. After it is cashed, request a copy of of the paid cashier's check. Keep the copy of the letter, cashiers check and CMRRR receipt. You are covered.

Guest · Posted: Thu Nov 20, 2008 12:23 pm Subject:

"cashed, request a copy of of the paid cashier's check" is this done with the bank or with NCO ?

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