Debt Validation question
Date: Mon, 03/14/2011 - 07:52
[COLOR=black]Is sending a debt validation letter at this point smart move? Will it help buy more time to get to the 150-180 day sweet spot for negotiating? Or will it risk delaying negotiation talks and have it possibly it go past the charge off day by sending a DV letter?[/COLOR]
Was the CA assigned by HSBC or did they purchase the debt? If t
Was the CA assigned by HSBC or did they purchase the debt? If they own it, I would send a DV. If they are just working on behalf of HSBC, send a settlement offer letter. I would offer 25ish% as a starting point.
[COLOR=black]The debt is still with HSBC. The Law Office of Jame
[COLOR=black]The debt is still with HSBC. The Law Office of James A. West has been assigned to collect on their behalf. [/COLOR][COLOR=black]I appreciate the advice. I will offer 25% and go from there. [/COLOR]
[COLOR=black][FONT=Arial][/FONT][/COLOR]
[COLOR=black]Since this is my first of 6 cards, is it best to handle settlement offers in the mail versus over the phone? Certified mail for this scenario? I know once the settlement has been reached to get everything in writing. Just wondering about the process leading up to that. [/COLOR]
[COLOR=black][FONT=Arial][/FONT][/COLOR][COLOR=black] [/COLOR]
[COLOR=black]I will check the DIY section. Hopefully there are sample settlement letter there. [/COLOR]
There are some sample letters. Just keep it simple and keep us
There are some sample letters. Just keep it simple and keep us apprised of your progress. Good luck!
I handled my settlements with HSBC, 2 Bank of America accounts,
I handled my settlements with HSBC, 2 Bank of America accounts, Citibank, Chase and Discover over the phone. I kept in touch with them until we reached the amount at which I settled. Sometimes you have to speak to someone higher up. Don't even think of settling with Capital One, if that's one of your cards. They are horrible. I was able to negotiate payments to bring the account back on track.
I found the settlement process quicker by phone. Have no idea how long it would take someone to get back to you once you send a letter.
In addition to the HSBC I have RBS, Chase, US Bank, Citi and Ca
In addition to the HSBC I have RBS, Chase, US Bank, Citi and Cap One. Cap One its my largest. I hate to hear about your experience with Cap One. How long ago did you attempt to settle with them?
I attempted to settle with Cap One back in November. All they d
I attempted to settle with Cap One back in November. All they did was offer me $100 against my account balance, a $100 debit card to spend, and 3 monthly payments to catch up my account. Since it was my last credit card and I only owed around $2,000 I agreed.
Cap One is very aggressive and quick to sue. You can do a search and read other's posts about them. Maybe you can work out a hardship arrangement with them. It's worth a try.
[COLOR=black]Debt Samaritan - based off your experience, is120 d
[COLOR=black]Debt Samaritan - based off your experience, is120 days past due too early to make an offer (I plan on starting with 25%)? How did you do with HSBC and at how many days past due?[/COLOR]