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Queston about trying to settle with CA

Date: Thu, 09/02/2010 - 11:08

Submitted by harborsalesonline
on Thu, 09/02/2010 - 11:08

Posts: 16 Credits: [Donate]

Total Replies: 3


My wife has a Capital One card that was sent to a CA, I sent a debt validation letter as well as a cease and desist letter. Once I receive the validation (I hope) should I make an offer to settle with them? They originally offered to settle for around 80% of the balance which we only owe $3500. Should I offer them a settlement or wait and see if they make a formal offer in writing?

Thanks for any advice

Mike


You cannot request "mail only"...the FDCPA defines a cease and desist as NO CONTACT at all. It is too time consuming to type up personalized letters so they will ditch the account and ignore the DV. Most CA's will close the account out and return with a legal status to the client. I know my agency did.


lrhall41

Submitted by SOAPLADY on Thu, 09/02/2010 - 19:56

( Posts: 17315 | Credits: )