We are looking forward to settle out our debts
Date: Wed, 10/05/2005 - 12:59
2 I havent paid on since Jan 2 I paid 2 months then stopped and one I just paid a payment last week when I called to ask about settle ment
I have contacted a few companies and they have been doing mostly 65% but they will not budge on " agreed as paid" I am really worried about what this will do at tax time. How do I know I am getting the best deal? Should I be sending out DV letters first if so it there a sample letter i should follow. Most of the cc are within the last 4 years. Any advice appreciated.
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Hi Welcome to the forums. debt validation is certainly nec
Hi
Welcome to the forums.
debt validation is certainly necessary because it gives you a true picture of the account and the company that is holding your debt. Anyone can ask you to pay the debt. But through the debt validation weapon, you can actually determine whether the particular company is entitled to receive payment from you.
You can pull your latest credit report and see the financial standing of each account. Based on that, you can contact the companies and make necessary payment arrangements with them. 'Paid in full' or 'paid as agreed' is necessarily needed to be shown in your credit report otherwise your efforts to make the payments will not be worthy. The reason of emphasizing this point is that the future lenders won't be willing to extend credit to you if they see your account as 'Settled' in your credit report. It will give them an impression that you have faced financial difficulties and have not been able to make the payments to the collection agencies.
While you make all your payments to the agencies, make sure that you get the receipt of every payment made. This will help you to keep a track of all your efforts. Also it is necessary to do all the correspondence in written so that you have a valid copy of each and every communication.
If you have any queries, just let us know.
Regards
Roxette
