MCM - "in writing"
Date: Tue, 06/14/2011 - 05:53
Because I had heard horror stories of consumers giving away their checking information or debit card info only to be charged their full balance (versus the settlement,) I refused to do so. When I received a letter in the mail for my settlement, the "monthly payment" was higher than what I had agreed upon over the phone, and it omitted any information about the final pay-off balance at the end of six months (or paying the agreed upon monthly fee.)
When I called them and informed them of the "errors," they told me that their system could only print out one thing at a time, and they couldn't include "pay off" information as well as monthly payment information. I'm almost certain this is bogus. Is there any way I can request the specific details in written form from them?
I also noticed on the bottom of the letter that they will only remove or edit a credit report if the "federal reporting period" hasn't expired. This means they are admitting to attempting to collect debts beyond a state's statue of limitations or could also be collecting on paid-off debts - so BEWARE.
Hi! Welcome to the Forums! This is not a proper settlement lett
Hi!
Welcome to the Forums!
This is not a proper settlement letter. Don't sign this document. Ask for a proper settlement letter. Another thing, check the Sol period in your state. If the Sol period on the debt has expired, then you're not legally obligated for the debt.
Thank you for your response. How do I ask for a proper settleme
Thank you for your response. How do I ask for a proper settlement letter? I keep hitting brick walls with the same excuses (and I have not given them ANY financial account information either) that they cannot create a letter to those specifications, etc.
The SoL for our state is 7 years, and this debt doesn't meet the SoL criteria.
I suggest YOU write the settlement letter with your terms clearl
I suggest YOU write the settlement letter with your terms clearly outlined and send it to them for their signature.
Why wait for them to do it?
Quote: When I called them and informed them of the "errors," the
Quote:
When I called them and informed them of the "errors," they told me that their system could only print out one thing at a time, and they couldn't include "pay off" information as well as monthly payment information. I'm almost certain this is bogus. Is there any way I can request the specific details in written form from them? |
Quote:
I also noticed on the bottom of the letter that they will only remove or edit a credit report if the "federal reporting period" hasn't expired. This means they are admitting to attempting to collect debts beyond a state's statue of limitations or could also be collecting on paid-off debts - so BEWARE. |
I was told by the Collection Agency that no additional interest
I was told by the Collection Agency that no additional interest would be accrued on the balance as presented as long as the monthly payments were made, and the final balance was paid at the end of 6 months (which was also stated in their letter;) therefore, why would interest need to be determined 6 months from now?
They just did not say what the final balance was. The final balance area said "unavailable."
So if the State SOL is 7 years, and it says that they will not change credit report status if the federal reporting limit has been reached (or whatever it says as I typed above while looking at the letter,) I'm back to my original question: what does that mean?
(Ignore the emoticon above. I merely typed ";" followed by a ")
(Ignore the emoticon above. I merely typed ";" followed by a ")" also known as proper grammar.)