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waving late fees and inte

Date: Thu, 03/26/2009 - 09:22

Submitted by anonymous
on Thu, 03/26/2009 - 09:22

Posts: 202330 Credits: [Donate]

Total Replies: 3


as I'm reading some of the post here I ran couple of times into someone advising to ask OC to move accounts back from CA and also wave late fees and interest charges back to day when cards were current and then do settlement, has anyone was actually able to do this? why would OC wave late fees and interest? I asked once amex to get accounts back from CA so I can work out settlement with them drectly but they said I'll hav eto not cut deal with CA at that was when I was 60-90 days pass due
just wondering why would they do this?
also another question is settlement deal with OC anyhow better than one with CA? besides that OC are more ethical and sometimes CA will try to screw you and get more funds they actually agreed on... I'm talking about real settlement deal is it any better to get this frm OC


If the original creditor sold off the debt to the collection agency, they cannot take back the debt, but if the creditor has only authorized the collection agency to recover the debt, the debt can be taken back by the OC.
Quote:

why would OC wave late fees and interest?

I think that the OC generally agree to settle the debt for less in the hope of getting their money back. If they sell it to a CA, they may get only pennies on a dollar.


lrhall41

Submitted by on Fri, 03/27/2009 - 06:30

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