Do i pay the orginal creditor
Date: Mon, 10/05/2009 - 13:25
My Capitol One card was place with ARS a collection agency. ARS did validate they made me an offer of paying $423.00 on a $880.00 debt. They said Capitol One allowed them to. Who should I deal with if I want to make an offer? The Capitol One account is on my credit report as Bad Collection and I am trying desperately to clean my report up. They report the balance as past due.
Also do you a sample memo for this subject?
Also do you a sample memo for this subject?
It is highly unlikely that they are "allowed" to take a lower pa
It is highly unlikely that they are "allowed" to take a lower payment because they talked to Capital One. Most likely they purchased the debt for pennies on the dollar.
Anyway if they have validated it and you want to pay then by all means go ahead. If it has been charged off then you cannot pay Capital One. Just so you know, do not trust ARS A/K/A Ameriquest Recovery Systems.
What state are you in and how old is this debt btw? When was the last time you paid on it?[SIZE=5][/SIZE]
I wouldn't do it without a written contract from ARS, no freakin
I wouldn't do it without a written contract from ARS, no freakin way would I pay ANY money without documentation.
Quote:It is highly unlikely that they are "allowed" to take a lo
Quote:
It is highly unlikely that they are "allowed" to take a lower payment because they talked to Capital One. Most likely they purchased the debt for pennies on the dollar. |
Wrong. Capitol One is generally worked 3rd party and are not sold right away. Same goes for Citibank and AMEX. They often DO have to get approval from the client...sometimes there is a blanket settlement they can offer.
If the CA makes the settlement offer and have validated, you pay the CA, not the OC. Sending it elsewhere could delay the payment and invalidate the settlement offer.
