chargeoff settled - do i need an agreement
Date: Mon, 01/16/2006 - 01:12
After my divorce I have been dealing with rejections for credit since 2002. I have decided to pay some off in full and others as settlements. I recently paid a settlement for less than what is owed in Dec. thru a collection company called NCO financial. I also made a payment plan for a settlement on another credit card which will be finally paid by the end of this month. When I asked them to send me a settlement agreement first they said, "dont worry about it we do this all the time." Should I be concerned that they are not going to report to the 3 credit bureaus as a charge off paid?
Saturday I receivd letters from HSBC on mine and my husbands acc
Saturday I receivd letters from HSBC on mine and my husbands account, and from FNBO (First National Bank of Ohio) used to be Card Credit Services that they charged off our credit cards while in debt consolidation in December 2005. How can they charge off when they are receiving payments? They stated in the letters that they wrote off the full balances. What do I do now?
Litlspi Don't trust any company on a verbal communication. Th
Litlspi
Don't trust any company on a verbal communication. They should not object with anything in writing for what they are offering. Besides, you will have proof of everything in case there is a dispute at the later stage.
Insist the company to send you the settlement offer in writing. Being proactive is better than fighting with them at the later stage.
Also, send your letters through certified mail with return receipt requested. Keep everything documented in a file. You will make your actions much stronger.
Mom of twins, Did you inform this matter to your consolidatio
Mom of twins,
Did you inform this matter to your consolidation company? They must be having the agreement copy signed with your creditor regarding this account. I think there must be some clerical error done by the company in this account. Because, there is no reason for a company to post an account as charged off when they are already receiving payments on it and the account being active.
Talk to your consolidator and request him to resolve this matter with your creditor and give you the update.
I have left a message with the counselor about this situation an
I have left a message with the counselor about this situation and no phone call back yet.
Ok.. Call the original creditor and request them to give you the
Ok.. Call the original creditor and request them to give you the information of the last payment made towards the account. Every step you take will be helpful in knowing the crux of the matter.
HSBC won't talk to me. They stated that they have no interest i
HSBC won't talk to me. They stated that they have no interest in holding the account anymore and has notified the consolidation company. We were 4 months behind on the payment then we enrolled in the program. I am hoping my counselor calls back soon and lets me know what steps we can take. For some reason, this really don't surprise me with HSBC.
If HSBC is not holding your account presently, why should they c
If HSBC is not holding your account presently, why should they charge it off??? Moreover, just want to confirm myself, to which company is your consolidator paying the money to? I am in a fix because you said that they are not having any interest in your account.
Also, do you get the monthly statements from your consolidator on this account?
Yes I get monthly statements and it is showing the money being p
Yes I get monthly statements and it is showing the money being paid. They are making the monthly payments to HSBC. All I know is somebody will give me an answer tomorrow at the consolidation company.
HSBC is a hard one to deal with. I've enrolled two credit cards
HSBC is a hard one to deal with. I've enrolled two credit cards with them on the debt consolidation program. They are refusing the program because they say the accounts are too new. One is understandable because it was opened in September of 2005 but the other in June 2004 so I'm not sure why that's one refused. I guess I will have to hold out for a couple of months or try to pay them off on my own. I have never made a late payment to them so maybe they will work something out with me. It's worth a shot. Hang in there mom of twins, let us know what you find out. I will keep you in my thoughts :D
HBSC
HBSC difficult. My counselor just told me they rejected a plan after 5 months of going round and round with them, they told me they have a harship program but that is only for 6 months. My husband pays 65% of his check each week to child support, I have an appt with a HUD Counselor in the morning, I'm current with my house payments but I see the danger at the end of the road can't keep up much longer. I told him the situation that everyone else was happy to work with me and they would not, he told me to bring the paperwork he was interested in seeing it. I was told they have a hardship program, I told her someone took all the info for that two months ago. They have no record of it, doesn't surprise me. I asked why they would not agree I was only trying to stay out of bankruptcy, I was told they didn't have to work with anyone. Let me know if you have resolved the issue. Good luck, Beth
Some companies are easier to work with in terms of arranging a p
Some companies are easier to work with in terms of arranging a payment plan while some are tough. It varies from one company to another. It can be considered to give priority to those who are tough to deal with and complete the payments with them. This will save a lot of stress at the end.