Northstar collection
Date: Thu, 05/03/2012 - 22:43
I don???t think there will be any benefit by contacting a l
I don???t think there will be any benefit by contacting a lawyer. It???s a good offer from my point of view. If you are in a financial hardship, then try to get help from your friends and family members.
Set aside the money as you can and when you have about $1000, of
Set aside the money as you can and when you have about $1000, offer them that as a settlement. If they stand firm on the $1500, then keep saving until you have it.
wait a second here
i have some questions.
1)what kind of debt.
2)you say they contacted you three years ago.do you have anything in writing from them.
3)what state are you in.
4)is the debt still on your CR.
the reason i ask is because northstar is a debt buyer,and not a real savory one.i would get that settlement in writing with a proviso that the debt will be marked paid,and they will not sell,or assign it.i wouldn't pay them without that in writing.trust me on this.
collection agency lies
from experience as a credit mgr collector when an account is sent to a collection agency the agency already bought your debt for pennies on a dollar so then they try to get much more form you. They will promise whatever they want because they are keeping the money. Then if you pay less then what you originally owed, you will still have debt forever. It's a trick that all collection agencies do. Don't bother with them. Your credit will be restored in 7 years. You need to block them from calling you.
Quote:from experience as a credit mgr collector when an account
Quote:
from experience as a credit mgr collector when an account is sent to a collection agency the agency already bought your debt for pennies on a dollar so then they try to get much more form you. |
Oh please....do you know what the hell you are talking about? Ever heard of third party contingency collections?? Debt assignment is the most common type of debt with collection agencies.
Quote:
They will promise whatever they want because they are keeping the money. Then if you pay less then what you originally owed, you will still have debt forever. It's a trick that all collection agencies do. Don't bother with them. Your credit will be restored in 7 years. You need to block them from calling you. |
Huh??? If you settle the debt, you NO LONGER OWE IT!!! It is no trick....creditors who assign debt routinely give a blanket settlement amount. Junk debt buyers settle. You dont block a CA from calling, you cease and desist them. And that advice can get you sued in many cases. So quit giving advice in a field you know nothing about.
Northstar
When Northstar called me they said they were part of Capital One and not a debt buyer. I finally received a confirmation letter states. As the duly authorized representative for Capital One Auto Finance, we have agreed to accept less than the full balance due as settlement on the above mentioned account. .... Upon clearance of funds, the aboved mentioned account will be closed as settlement in full.
The problem is they do not want me to send a check or money order they keep me on hold while a second, unprofessional sounding person, is called and he ask financial information. They also ask me to call the bank to tell them they will be deducting the 1500.00 so that it will clear.
It sounds so suspicious, and Capital One never responded to my letter to verify the connection between this company and theirs.
It does not sound right.
Northstar
I am in Georgia, the debt was for a repossesed vehicle, and yes it is on my credit report. that is the problem. I want to be sure that when I pay them the account is closed and it is listed closed and paid on the CR