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Settlement offer from storefront

Date: Mon, 02/04/2008 - 15:31

Submitted by cdollar
on Mon, 02/04/2008 - 15:31

Posts: 227 Credits: [Donate]

Total Replies: 13


I got a call today from Quik Cash (storefront) on my defaulted loan. They offered a "Settlement" of $350 for my $500 loan, but only if I gave them my bank account info today. I told them that I did not have that much to give them, so they countered with a "Can you pay $50 by February 11th?" I said sure, I'll call back and give you a credit card payment on that day, but could they please send a settlement letter. They said they HAD to have my bank account information RIGHT NOW because all they could take was a post dated check for February 11th--I told them I no longer had a checking account. They were also unwilling to send a letter regarding the settlement. They said I had until 5pm today to call back with ANYONE'S checking account number. Needless to say, I don't feel comfortable giving my checking account number to them as I have been burned by so many PDLs and I'd like to keep my new account "clean". It's past the time she gave me to call back now for the settlement--Should I just request a letter sent and offer to pay by money order?


I don't blame you at all for not giving out your banking info. It does sound like a great settlement. But let them know that unless you have this settlement offer in writing that you will not budge. Tell them that you can go into the store and pay the money in cash on the dates listed in the settlement and if you do not make it into the store then the settlement will be cancelled. But be firm that you need it in writing before you will pay any money.


lrhall41

Submitted by puddlejmpr on Mon, 02/04/2008 - 16:29

( Posts: 1634 | Credits: )


Looks like you have gotten some really good advice here, I too agree, do not give any banking information under any circumstance, if you have read through some of the stories on this forum you will see how they have robbed people blind and taken out more than they are supposed to. Tell them you will do a western union or money gram, surely they have that information available for you right? Just about any company can have this type of delivery on money these days, or a plain old common money order.


lrhall41

Submitted by jos82003 on Tue, 02/05/2008 - 04:12

( Posts: 170 | Credits: )


Update: I called them back today and they won't offer a settlement unless I give them the checking account number. :roll: Oh well...Then she said she had already reported to my credit. Um, not yet! Then she said they were going to forward it to a CA and it will go on my credit--but if I pay them $50 on the 15th, she thinks she can hold it there! Didn't she just tell me that it was already on my credit? Then she said I needed to tell my husband that he needed to pay this too, since we're married "you should be sharing finances so this is his debt too!" Um, Nosey! Still won't send me the letter, but they will if I money gram them a payment.


lrhall41

Submitted by cdollar on Tue, 02/05/2008 - 07:13

( Posts: 227 | Credits: )


YOU MADE PROGRESS WITH THE MONEYGRAM,NOW THEY HAVE TO GIVE YOU SOMETHING IN WRITING ABOUT YOUR SETTELMENT.


lrhall41

Submitted by paulmergel on Tue, 02/05/2008 - 07:20

( Posts: 15514 | Credits: )


WHY AM I NOT SUPRISED?OH WELL,TRY TO WORK WITH THERE LATEST OFFER.JUST GET WHATEVER TERMS IN WRITING.


lrhall41

Submitted by paulmergel on Tue, 02/05/2008 - 07:58

( Posts: 15514 | Credits: )


They have to give you a statement. I had 2 CA's tell me that they wouldn't send me anything until I paid by moneygram and I told them that they could keep watching to see if I send it just like I am going to keep watching to see if you send me my letter, so to save time on both ends, send me a letter and I will send you some money. The one CA hung up on me lol. Keep demanding the letter. Don't let them scare you with the threats of sending it to a CA. Sometimes you can get better arrangements with a CA.


lrhall41

Submitted by puddlejmpr on Tue, 02/05/2008 - 19:40

( Posts: 1634 | Credits: )