are they trying to screw me over?
Date: Sun, 03/22/2009 - 21:14
"On behalf of our client Discover Financial Services, [name of CA] is willing to accept less than the full balance due as settlement on the above mentioned account. The settlement offer shall be $ due in our office no latter than [date]..... upon clearance of sufficient funds our records will be updated to reflect that the above account has been satisfied."
it was paid check by phone where I gave them routing and account numbers, I know most people will say do NOT share this info but this is my old account I dropped and not using since I stop paying monthly min payments, so I have no fear about sharing this as there is no money and although it is active I do not use this account for anything I just deposited few pennies more then settlement amount.
Going back to my original issue I just checked discover card account online and noticed that they apply this amount as regular payment and account is definitelly not ZERO balance and closed yet! maybe I'm freaking out and is to soon to tell and perhaps there will be some more activities later this week as it has been just 3 days since they cleared check but that looks strange... I'm 90 days pass due on all my CC just send first 3 settlements payments to 3 different CAs have 15 more to go and cannot afford things like this were they will agree on settlement and then apply payment to balance... again perhaps I'm speaking too soon but...
this statement is pretty straight forward and there is nothing tricky here ".....is willing to accept less than the full balance due as settlement on the above mentioned account. The settlement offer shall be $ due in our office no latter than [date]..... " so WTF??
I alos responded to that via fax and certified mail stating that I'm acepting their offer and will be sending payment within next 14 days (which was date we agree on) and if they have any issues with this they are required to respond with explenation in writing, did get no responses.
If you have that settlement offer in writing then I would just c
If you have that settlement offer in writing then I would just check back in a couple days. But if you don't see a change in 5 business days after the payment cleared then I would start making phone calls and checking up to make sure they recieved the payment.
they have received the payment 1) because amout we agreed on is
they have received the payment 1) because amout we agreed on is no longer in my checking account 2) exact amout settlemetn was for is showing up on my discover card as last payment activity, it was applied to balance.
and Yes I have it in writing
I'll be calling CA and discover card today to see whta's going on
yes be sure to contact them, maybe it takes awhile for a report
yes be sure to contact them, maybe it takes awhile for a report update on your credit report. maybe also after a week or so if it is not removed file a complaint with the credit reporting agency stating you have the proof its paid in full etc let us know how it goes
I had this problem with my Advanta settlement, also. Although I
I had this problem with my Advanta settlement, also. Although I got an email acknowledging the payments (I was able to do it in two), I could not find anything that showed a zero balance; I received no final statement, and they locked me out of their on-line banking. I called them and the guy I talked to was basically, "oh yeah, we don't send final statements. Don't worry, this is just the way we do things, your settlement offer letter and the fact the lawsuit was dropped is your proof." It INFURIATED me, because I felt I HAD no proof. But in the end, I did get my 1099 from them, and they reported to the credit bureaus that the account was settled. I think sometimes they just jerk around settlement clients out of spite.
Thanks guys, I just freaked out maybe I'm acting too quick on th
Thanks guys, I just freaked out maybe I'm acting too quick on this one but again I have 15 other account to settle and cannot afford to deal with crap like this, I'll let you know on the outcome. Haven't spoke with CA yet but talked to OC and they said CA is required to report any payment they get to OC so that's probably what it is and if I have in writing settlement agreement CA has 30 days to notify OC about this and than I should get proof. Time will show.
I had another account that I was sued over, and came to a settle
I had another account that I was sued over, and came to a settlement agreement and PAID before the court date, that took over two months for the collection agency (so-called "attorneys" that were collecting on behalf of the OC) to report to the original creditor that the account had been settled and paid. I think it's just the norm for them to dilly-dally. But definitely keep it in your mind and keep checking on it. You do want to make sure all your loose ends are tied up, when the settlements are all over and done with so they don't haunt you later on.
false alarm
got of the phone with CA and they will be faxing over proof that account is sattled in full, I guess I was wondering in advanced and should wait, more to go.
BTW have question regarding for how long CA can hold of my account before they have to turn in back over to OC, I have couple account in CA I already sattled 2 of them and have 1 more to go but will not have enough funds for this account until mid April, CA is telling me they already have my accounts for 3 months and will have to turn it over to OC after April 10th so my question is real about agreement between CA and OC can they extend negotiate knowing I will have funds for they 10 days after they due to turn it back? or they real ahve no choice and I either will have to call now OC and try to get same settlement in writing I have with CA relativelly good deal 25% or will I have to wait until OC will turn it again to another CA?