Anyone settle with SquareTwo Financial ?

Square Two Financial has a Better Business Bureau rating of A+. How much Square Two Financial will settle for depends on the collection agency itself. Debt settlement generally lowers the outstanding debt amount by 40-60%.

However, in order to remove the charge-off from your credit report, you will have to request the original creditor to pull back the account from the collection agency. If the creditor pulls back the account, you will have to pay your original creditor. Before you can make the payment, request the creditor to agree to a "Pay for delete" (PFD) agreement. If the creditor agrees to PFD, all the negatives from your account will be deleted. This is going to improve your credit.

You will get the sample PFD letter at http://www.debtconsolidationcare.com/letters/pay-for-delete.html . You may have to change the wording as per your requirement.

Square Two Financial is the new name for the Collect America/CACV/CACH JDB outfit.

Hard to believe they have a good BBB rating. Maybe that's why they changed the name.

I was under the impression that Square Two Financial is the new name. Previously, known as Collect America.

Any how, they've informed me that I wait few weeks before their certain who the collection agency is as they simply buy the debt than hire a collector to collect upon outstanding debt.

40% to collection agency sucks. I'm trying to settle with nationwide credit at 30%. I know they'll take 45% anytime.

I would never pay a JDB unless a court ordered me to.

Why do you want to settle with them? Why not let them sue you and fight them in court? You can beat JDBs.

They will violate the FDCPA, which means they will owe you money in penalties, and you can sue them.

I have real estate and transfer of funds recently, not because of debt. My attorney has advise I settle prior to judgment as the trustee can prove , "fraudulent transfer ". Meaning, the funds can be reverse.

Of course they were preference transfer.