Dealing with CAs or original creditors
Date: Fri, 01/14/2011 - 01:18
I have gotten quite a few letters and calls from different CAs. Many are past the 30-day window for DV and I'm not really disputing that I owe what they say. I'm concerned, however, that they are authorized to collect the debt. Should call the original creditor and try to settle or ask them who they turned the debt over to?
If I have to work with the CAs, is the best way to send a proposed settlement offer rather than speaking with them on the phone (since they are all bullies and liars).
I only have a small amount of extra funds to work with quite a few CC debts and can spread it out on a weighted amount (biggest debts get bigger payments).
What are the thoughts from those who have dealt with this already??
Hi! Welcome to the forums! Yes, you should contact your origina
Hi!
Welcome to the forums!
Yes, you should contact your original creditor and ask him whether or not he has sold the account to the collection agency. Find out the name of the collection agency (CA) to whom he has sold the account. You can ask your original creditor to withdraw the account from the CA and negotiate a settlement. In case, he is not interested, then you can send a written settlement offer to the CA. It is good that you have some extra funds. But I would suggest you to increase your cash flow. You can make some smart investments or can do part-time jobs. You can even make money online nowadays. You can use the extra money to pay off the debt. The sooner you can get rid of debt, the better.
