Need Help Fast with Settlement Letter
Date: Tue, 07/13/2010 - 06:08
Submitted by desiretobedebtfree
on
Tue, 07/13/2010 - 06:08
Total Replies: 5
My Name Amount Due $$$$
My Address Allied Acct# xxxxxxx
RE Lowes Consumer Credit Card Acct
Dear xxxx
Our client has given authority to settle your account for less than the total amount due. We have been authorized to accept $$$$ as settlement on the Amount Due listed above.
1st pmt due 7/13/2010 for the amount of $ xxx
2nd pmt due 8/13/2010 for the amount of $ xxx
Final Payment Due 9/13/2010 for the amount of $ xxx
To take advantage of the settlement offer outlined above we must receive each payment at the post office box referenced below no later than the close of business on date listed for that payment. After that time, we reserve the right to modify the settlement offer, or revoke the offer in it's entirety. This is a limited opportunity and contingent of your good funds.
The rest of the letter pertains to reporting to irs
My questions:
1. Original account number not referenced anywhere it only states Allied acct #
2. Please look at the sentence that I underlined above. I discussed it with them and they are unwilling to change wording to state something like If not paid as agreed they reserve the right to modify ... It seems to me to say that after I do this they can simply change their mind.
3. The date on the fax that I rec'd for the final payment is not legible. It is supposed to be 9/13 but looks like 8/13 on the fax
They are demanding that I allow phone payment today for first pmt. and set up auto draws for future payments. Advise on how to proceed would be much appreciated! I'm afraid I'm getting duped here.
Do you recognize the debt?? Have you sent debt validation lette
Do you recognize the debt?? Have you sent debt validation letter and received statements or signed agreement??
The sentence you underlined is not uncommon. I have seen it in several settlements I received. They are simply saying if you don't pay on time the offer could be revoked. Most will state that settlement is void if you don't finish paying.
As far as dates on faxed letter, you could call and have them fax again.
Thanks so much Ozzie, I didn't validate the debt with them but
Thanks so much Ozzie,
I didn't validate the debt with them but do know that they are authorized to collect for GEMB and it is my debt. They have been calling for about 3 months constantly. I started answering their calls about a month or more ago. Do you think at this point on the game I should still try to do that or will it just be seen as a stall tactic? Should I double check with GEMB first to make sure they are authorized to collect it for them?
I'm over 210 days and was told it will charge off if not taken care of today. I've been negotiating with them for about a month and they would always say that they would sent the fax but it would never come. Well, they finally sent me one this morning and I would like to get this one over with.
Ozzie, thanks so much for responding to my question. That wording really concerning me but I feel much better about proceeding with it now after your response. This is my first settlement and I'm nervous.
I'm going to go make a quick trip to the bank so that a can get a prepaid visa as I'm not going to give them any checking acct. info. and I want to go ahead and get this one done.
I'm also going to ask them to refax so I can verify the date for the final payment. Wouldn't that be a sneaky way for them to get you if they wanted to be that way!
Hopefully you will get a few more repsonses. Sending DV now wo
Hopefully you will get a few more repsonses.
Sending DV now would probably not do much. Would not hurt to call GEMB to make sure Allied is working for them.
I'm also hoping to get more responses. Allied seems to have a p
I'm also hoping to get more responses. Allied seems to have a pretty bad name. Though most of the bad stuff I read about them pertained to calling the wrong people. etc. I couldn't find any info pertaining to any details about settlements with them.
I'm going to go ahead and call GEMB and take care of getting the pre-paid card while waiting to hopefully hear from others today before I call them back. Thanks again!
Shazzers? Soaplady? DantheMan? Anybody else have any input on th
Shazzers? Soaplady? DantheMan? Anybody else have any input on the settlement letter wording for me. Advice appreciated.