Charge Off

Send them a debt validation letter. The original CC company turned this debt over for collections. They all have collection companies they work with. If the first collection company is unable to collect the debt, your information is sold to another debt collection company, and this continues until the debt is paid off. I have a debt that goes back to 1993 from a previous marriage, and I still get calls today from collection agencies although the debt was charged off several years ago.

So after I send the letter what happens. If there is a link where I can read more, just let me know! Thank you!

I agree that you should request validation. If they can't validate the debt, you shouldn't pay them a penny. They may have purchased this debt for pennies on the dollar and have nothing to prove the amount they claim you owe or that they're legally able to collect the debt.

can they take me to court without having validated the debt?

As far as I know, the collection agency cannot take you to the court unless they validate the debt in case you've send them a debt validation letter.

They CAN take you to court but, they will have to validate the debt in the discovery process.

So should I send a Debt Val. letter to everyone trying to collect, if it says charge off on my Credit Report.

Have you received a letter of collection? I would wait until they contact you. Save as much money as you can so that you can settle the legitimate accounts.

Yes they have Sent me a letter. After my above discussion of Give her $86 (10% of balance) by 12/31/2010, and she can extend the $350 remaining balance of Settlement to end of January 2011, i decided to send the following email. I counter offered their offer :) I now received a phone call in response to my letter....they wish to disuss with me. :)

Meyer and Njus
Attention: Collections
200 South Sixth Street
Suite 1100
Minneapolis, MN 55402

12/29/2010

Sir or Madam,
Re: Account Number


I appreciate that your company is willing to work with me in settling my debt so that I may pay it off.

This letter is to make a counter offer in response to the settlement offer made to me, by your company. This was received through a phone conversation with Lisa, on 12/29/2010.

The amount that I propose to settle the debt in full is $250.00. I would be able to pay this amount, to you, by January 31st, 2011. I would also like to request that you remove any late payments or charge-offs on this account from my credit report.

I have several debt accounts that I am attempting to settle as well. Unfortunately, I have a limited amount of funds. So, I can only pay those creditors who are willing to meet my terms. I have already reached several mutually agreeable settlements with other creditors, and I doubt that I'll have enough funds to pay everyone.

If your company is willing to accept my proposal, please sign this attached letter agreeing to my proposal and return a copy to me, via email or USPS. As soon as I receive this signed acknowledged agreement, I shall send you money orders in the amount I've proposed, by the promised date.

Sincerely,