Juniper/Barclay's
Date: Mon, 11/30/2009 - 05:49
I think something happened to my other thread - so I apologize if this is a double post.
We received our settlement letter from Juniper/Barclay's, and it is quite different from our phone conversation yesterday.
It states that it is a lump sum payment, when the rep said it would be broken into 3 payments. It says that they will report it as "settled in full" and that I will be "pleased to know that your payment will be applied entirely to the loan principal, rather than first paying the accumulated interest. This may result in your credit report showing a smaller portion of the loan as charged off."
First of all, the mention of charge-off sounds to me like they are saying they will sell the remainder to a JDB - without actually saying so. We didn't agree to this, and we asked if they would include in the letter that the balance will not be sold off.
Now that the settlement letter is not according to our conversation - I don't trust them. Will we be able to bargain for a lower settlement?
We received our settlement letter from Juniper/Barclay's, and it is quite different from our phone conversation yesterday.
It states that it is a lump sum payment, when the rep said it would be broken into 3 payments. It says that they will report it as "settled in full" and that I will be "pleased to know that your payment will be applied entirely to the loan principal, rather than first paying the accumulated interest. This may result in your credit report showing a smaller portion of the loan as charged off."
First of all, the mention of charge-off sounds to me like they are saying they will sell the remainder to a JDB - without actually saying so. We didn't agree to this, and we asked if they would include in the letter that the balance will not be sold off.
Now that the settlement letter is not according to our conversation - I don't trust them. Will we be able to bargain for a lower settlement?
