Is this settlement offer legit?
Date: Thu, 04/05/2012 - 19:57
I posted here a couple weeks ago about my state of affairs (and appreciated the help given!). Today though, I received a settlement offer on an outstanding ebay account I have. The "statement" or offer looks like they sent me and was considering doing it (50% off considering that's about what I should have owed to begin with).
However, this line concerned me:
"Our client has advised us that they are willing to accept a payment
for 50% of balance due. If you accept this offer, our client will
cease further collection efforts on this account but will not consider
the account paid in full or reinstate your account."
- I don't mind not being reinstated, just don't want to be shafted
on the total amount based on how they worded it?
Many thanks for your time.
If I'm deducing this correctly, the account is with a collection
If I'm deducing this correctly, the account is with a collection agency, right? If so, ask for a validation letter in writing before you make a move. Try negotiating with them and see if its possible to have them report the account as 'paid in full' or 'paid as settled'.
I don't like how it's worded. They could take your 50% then cha
I don't like how it's worded. They could take your 50% then charge off the balance and sell the account to someone else who will they try to collect that other 50%.
I'd respond with a counter offer of settling the account in full for the 50%.
Hi Skywalk, This quote is a deal breaker: [QUOTE]our client wil
Hi Skywalk,
This quote is a deal breaker:
[QUOTE]our client will cease further collection efforts on this account but will not consider the account paid in full or reinstate your account[/QUOTE]
It contradicts the previous statement:
Quote:
willing to accept a payment for 50% of balance due |
It would be helpful to know the name of the company collecting so that others can be warned of the shifty language they use.
Quote:It contradicts the previous statement: "willing to accept
Quote:
It contradicts the previous statement: "willing to accept a payment for 50% of balance due" |
How? They're just saying they're willing to accept a payment for 50% of the balance. They'd be willing to accept that at any time, regardless of the current standing of the account. If they'd said they were willing to accept a "settlement" for 50% of the balance due, that would be a contradiction.
Yup..I agree..the letter is written with the intent to confuse.
Yup..I agree..the letter is written with the intent to confuse.
wow!
they talk out of both sides of their mouths with that offer.as micheal stated please let us know who this is.you should also respond as ohiogal advised and get the verbage"settled in full"if not,don't take that offer.
Thanks all for the replies. I thought I'd subscribed to this thr
Thanks all for the replies. I thought I'd subscribed to this thread, but none of the notifications came through for me (or they went to my junk folder). Anyway, the company was Convergent (convergentusa.com) with regards to an ebay account.
question
since this place is a borderline bottomfeeder.i have a question.is this on your credit report?i ask because again this place buys zombie debt,and does assigned collections.the offer as stated before is meant to confuse.one last thing what state are you again?i just can't advise taking an offer like this from a shady place like this.
I know the account (ebay) is legit, however, Convergent was not
I know the account (ebay) is legit, however, Convergent was not listed on either of my credit reports when I last checked, which was about a month ago. State would be KY.
There is no legal requirement for any collection agency or credi
There is no legal requirement for any collection agency or creditor for that matter to report to the bureaus. You cannot use non reporting as a guide of legitimacy.
On a debt settlement offer sent by the CA, is it needed for them
On a debt settlement offer sent by the CA, is it needed for them to list how long the settlement offer is valid for? I received an offer from FRS, Inc. today and one of the options was "Settle in full" for 40 cents on the dollar. I'm fine with the amount I suppose, even though they're still wanting $250 more then the original debt back in 2008.
Do you think it's a safe offer since it is on their company letter head, etc. even if it doesn't specify a date?
Thanks!
questions again
unless this is a written contract,or promissory note.the SOL is 5yrs.if the last payment on this was more than five years ago it's up to you whether or not to pay.i'm sure ebay is open ended so this is past SOL.it's your move.