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Help with settlement

Date: Tue, 04/12/2011 - 09:40

Submitted by mrparker1-d1
on Tue, 04/12/2011 - 09:40

Posts: 9 Credits: [Donate]

Total Replies: 3


My wife has a cc with Capital One and it went to collections with Nelson Watson and Associates. I was never able to do anything with them, I talked to them once and could never get a hold of them again either by phone or letter. Now the account was sent to Suttell and Hammer, I sent a debt validation letter to them certified return mail over 30 days ago and never received any response. Today I called them to make a settlement offer, I offered 30% and they came back with 85%, which I stated I could not do. The person I talked to stated that was the lowest they are allowed to go on this account, but I could try back at a later date.

My question is what should I do now? I am afraid they will sue.

Thanks in advance for any advice.

Mike


If you sent a validation request over 30 days ago, why on earth would you call them and try to settle? They've not validated the account and are barred (because of your request for validation) from persuing further collection activities. I suggest you send them a second request for validation letter and don't call them again.


lrhall41

Submitted by OhioGal1 on Tue, 04/12/2011 - 09:56

( Posts: 5253 | Credits: )


A true debt settlement company doesn't charge any upfront fees. It is best to negotiate a contingent based settlement based on performance. I used a company that settled my accounts for 25 cents on the dollar and I paid the creditors directly and they only charged a small fee after the settlement was complete. They can be reached at 866-833-6398.


lrhall41

Submitted by anonymous on Wed, 04/13/2011 - 13:07

( Posts: 202330 | Credits: )


Dont pay upfront fee to any one . Secondly do not deal with the collection agency . Let a firm specialized in debt settlements handle your case . They can get it down to 40c on a dollar . After you sign up with a debt settlement company , debt collectors are not authorized to touch base with you . they will then have to contact your debt settlement company regarding your case . i think , this would be a better hassle free option .


lrhall41

Submitted by rdb_alex on Thu, 04/14/2011 - 17:15

( Posts: 4 | Credits: )