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Get it in writing?

Date: Thu, 09/16/2010 - 09:04

Submitted by dbh
on Thu, 09/16/2010 - 09:04

Posts: Credits: [Donate]

Total Replies: 4


I see this hammered here all the time. Get any kind of settlement offer in writing before paying. Then I read this:

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You don't need anything in writing from the original creditors in order to accept a deal.
As a matter of fact, they will refuse to give you anything in writing. That's ok.
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Here:
http://www.creditinfocenter.com/debt/originalcreditor_debtsettlement.shtml


Is this correct? I'm in the process of trying to settle my wife's credit cards (over 20 of them), still with the original creditors all in the 60 - 90 day late range. I'm just trying to make sure I do this right.

thx


Greetings [URL="http://www.debtconsolidationcare.com/forums/member.php?u=231089"]dbh[/URL],

I settled all of mine with the original creditors.
Got a confirmation numer and drafted it out of a special checking account.

Got the paid off letters when the deal was done.
No problems at all.

But if your accounts have either charged off or been sublet to a collection agency.....do not pay anything before you have a signed settlement agreement in your hands. If the goons want your money bad enough they will provide the documentation beforehand.

And by all means set up a special drafting account for that purpose only.
Do not link it with any of your other accounts.

Better yet set it up at a different bank alltogether.

Hope this helps.
redgards,
King "Kash" Jabba Labba


lrhall41

Submitted by King Jabba Labba on Thu, 09/16/2010 - 15:16

( Posts: 507 | Credits: )