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Settlement Letters

Date: Mon, 07/16/2007 - 09:42

Submitted by anonymous
on Mon, 07/16/2007 - 09:42

Posts: 202330 Credits: [Donate]

Total Replies: 5


Received a settlement letter. Settlement included a payment plan. Asked to have included in the letter a statement regarding the reporting to the credit bureaus would show that the debt was current after on-time payments were made. Told by representative that they use a standard letter and they are not allowed to include anything because of insurance coverage of the company. True???


The company is Cavalry Portfolio Services located in Hawthorne, NY.

This was a credit card debt--last payment was 12/2005.


lrhall41

Submitted by anonymous on Mon, 07/16/2007 - 10:15

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Company is Cavalry Portfolio Services in Hawthorne, NY

The debt is a credit card--last payment was 12/2005


lrhall41

Submitted by anonymous on Mon, 07/16/2007 - 10:20

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I don't know that this is true. Some creditors have a policy of only reporting the debt as settled for less than full amount, some will report it as paid as agreed and remove all late payment info., it just depends on who you're dealing with. I never heard anything about sticking to the reporting policy for insurance purposes, though.


lrhall41

Submitted by Tiffany99 on Mon, 07/16/2007 - 10:23

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