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Hello, I received a settlement offer from Cap 1 today on a MC account with a $4200 balance. They agreed to accept $2053.00 in 1 payment. The account is 152 days past due. I am concerned about the following paragraph in the settlement offer letter: "Upon completion of the settlement, the remainder of your account balance will be written off and your credit report will be updated to show the account as settled with an outstanding balance." Has anyone accepted these terms? Do they typically sell the account's outstanding balance to a CA? Any advice/direction would be greatly appreciated. Thanks!

Ok so hello...my first post here. I've been lurking on this site a couple times but finally joined. I skipped that credit counseling deal when I signed on, so now I don't know if I can still do that? Anyways, there is so much information here that I'm wondering if anyone can direct me to some threads. I have all sorts of debt and I'm wondering if there is anyone debt consolidation company that can help me out. Mainly what I have is old stuff that is in collections, but it's so many things here and there that I just want to take care of it all with one payment.

This year I am blessed. I have been blessed every year. I might not have everything I want financially, but I have everything I want and need emotionally. All four of my children are talented in their own ways, they are smart, healthy and are very understanding when they don't get those expensive presents for their birthdays or on the holidays. I have a husband who still inspires me to be a better person, even when I am frustrated and angry with him! I am blessed with wonderful friends and family.

I have a judgement from cap 1 and they garnished my personal checking, can they now garnish my business checking? (sole proprietor) sskk

I had a debt of about $15,000 with FLeet Bank in 2004. They stated I owed $27,001.76. We made some payments then they sold it to Associated Recovery Systems and the balance was 23,939.43. Then Asset Acceptance LLC (a collection agency) purchased the debt and stated I owed over $17,000. I have been paying AALLC since 12/05 with monthly payments of $100. My credit report showed this as a collection until just this past month and the collection had been moved from the credit report. They are now asking for $4,000 to settle the account, which still has a balance of over $10,000.

I received a letter from NCC Business Services concerning a BOA account. I'm in the process of sending a dv letter but a couple days ago I started getting calls from them. They never left a message until today when I got home they had left a message and said something about needing me to call so they could update my attorney information. As far as I know I havent been sued or served so why would they need attorney information? Anybody ever had any dealings with this type of message before?

I was call today by a collection agency working for VIP cash and the rep stated that I have a case against me from VIP cash and that if I did not pay by 3:00pm 12/23/09 they when send the paper work to my county which is Lake County Indiana. He stated I did not have to appear for court and that they can arrest me and they could come to my job or home to pick me up. But if I had a credit card or borrow the money then they will not press charges.

I have been reading threads here for several days. Lots of great info. but I couldn't find what I was looking for so I am hoping someone can help. I just called one my creditors and I hung up in frustration. All I wanted was to update my address and request balances. I had been on a debt management program and now going through debt settlement. I have not received statements since I moved, (the PO has not done a good job forwarding my mail) I wanted to request in writing for the creditor to update my address and send my current statement.

Can anyone please share their experience with Alliance one, in settling Citi cards? Do they entertain debt settlements? Thanks for your time!!

Anyone dealing with Capital One in debt settlement at this time? They are threatening to sue after 60 days delinquent. I have tyold them i am being represented but capital one continues to call and send me notices each month.