Account went to collections (Cambece) now what?
Date: Sat, 08/07/2010 - 23:38
We have a FIA acct that got charged off (we just didn't have the funds at the time to settle). FIA let us know that it would go to a CA or an attorney. A week or so later they did tell us it went to a CA. Cambece called this week and said the CA hired them to settle the account. I have done some searching on this site and I am now nervous that I am going to have to deal with them.
2. Is there anything I should ask the attorney to make sure they really do have our acct (I am sure they do because they had the info but I thought I remember reading I should verify or something?). Is it a debt validation letter and if so, where can I get an example of one?
3. They gave us an offer. The balance is 7336.37 and they are asking for a lump sum of $2900 or $3600 total with $2000 down and the rest broken up over 4 payments. Will Cambece actually negotiate or is this it? My husband seems to think an attorney won't negotiate. But the more I learn they are a CA.
4. If we don't take this settlement today now that it is at an attorney's will they accelerate it and if so what will happen? They are in MA correct? We are in AZ.
5. We can come up with the settlement by taking money out of retirement and I want to get this over with. But do you think I can get a better deal? How can I be sure they won't ask for more after we pay...just get a letter from them ahead of time?
Thanks!!
you can DV but it likely will void any settlement. Easy way wou
you can DV but it likely will void any settlement. Easy way would be to call FIA and ask them. Oh yeah, some will argue DV but in my opinion they have offered you a good settlement, between 40 and 50%. Have you researched this forum to see if better deals are offered?
The letter you received can function as your settlement letter....combined with a paid money order/check.
Thanks I was thinking a 40% settlement is good and I want to get
Thanks I was thinking a 40% settlement is good and I want to get it over with too. FIA did tell us they sold it to Collect America and what I have read, Cambece is a franchise of them so I guess it is legit.
But shouldn't I get a settlement letter first? I haven't gotten any kind of letter from anyone.
Ok....get the settlement letter in writing. Have them fax it to
Ok....get the settlement letter in writing. Have them fax it to you...be prepared with a valid fax number.