settlement

Date: Thu, 02/17/2011 - 12:33

Submitted by inirene
on Thu, 02/17/2011 - 12:33

Posts: Credits: [Donate]

Total Replies: 2

I received a letter of from John P Frye regarding an account that had been turned over to their agency from HSBC. The agency agreed to settle with me for a certain amount and said that I would be completely released from this obligation on behalf of Atlantic Credit and Finance. They also said that they would contact the credit reporting agencies and mark the acct. as satisfied. Is this enough information that I won't have to worry that they would resell the account to another agency. The settlement was approximately 50% of the amount.

The collection agency has given you a good offer but I will stil

The collection agency has given you a good offer but I will still suggest you to send a debt validation letter to them and ask them to validate the debt. This will help you know whether or not they really own your debt. Once they validate the debt request them to give you a written document mentioning that they would report your account as satisfied once you pay them. Once they give you a written document regarding this, you can pay them as per the settlement plan.

lrhall41

Submitted by Anna Sweeting on Thu, 02/17/2011 - 22:15

( Posts: 1827 | Credits: )

The settlement offer is good. However, you can make a counter se

The settlement offer is good. However, you can make a counter settlement offer to them to lower the payoff amount further. Use the following letter to make counter settlement offer:
http://www.debtconsolidationcare.com/letters/sample19.html

However, if they are not able to validate the debt, then send a cease and desist letter to them.

lrhall41

Submitted by Good Nelly on Fri, 02/18/2011 - 01:36

( Posts: 2846 | Credits: )