A CA called Northland Group Inc. bought an old chargeoff of mine from Homecomings, which bought it from the original creditor. I do owe money, but though validation/estoppel got Homecomings to remove it. Apparently it went back to the original creditor and now is sold again. I get a letter today that says the following: Dear Author_22, XXXXXXXXXXXX the creditor of your account has assigned the above referenced account to Northland Group for collection. This is an attempt to collect a debt and any information obtained will be used for that purpose. It is out desire to assist you in this matter. Please make arrangements to pay the balance stated above. If paid in full to this office, all collection activity will be stopped. Our client is offering a discount on the balance. Upon receipt of $180.27 of cleared funds, your account will be considered paid and we will issue you a letter stating this account is settled. Unless you notify this office within 30 days of receiving this notice that you dispute the validity of the debt or any portion thereof, this office will assume the debt is valid. If you notify this office in writing within 30 days of receiving this notice that you dispute the validity of this debt or any portion thereof, this office will: obtain verification of the debt or obtain a copy of a judgment and mail you a copy of such judgment or verification. If you request this office in writing within 30 days after receiving this notice, this office will provide you with the name and address of the original creditor, if different from the current creditor. You may contact Northland Group Inc. at XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX. Balance due: $360.53 Settlement: $180.27 The balance is loaded with b.s. fees, the settlement is what actually was bought. What shall I do? I want to pay, but the language of the letter makes it unclear if this will TRULY end the matter forever and if it'll stay off my credit. I CANNOT afford collection notations on ANY reports. Should I demand validation, or send them a letter saying I'll pay it only if XXXXXXXXXX (need a sample letter)? Thanks guys.
xxx referred to as creditor and xxxx referred to as debtor agree to compromise the indebtedness between them. Creditor agree to compromise the indebtedness due the debtor on the following terms and conditions: The creditor and debtor agree that the present debt due is $xxx.xx (zero hundred dollars and no cents). the dparties agree that the creditor shall accept the sum of 4xx.xx (zero dollars and no cents) as full payment on the debt. The acceptance of the payment will serve as a comlete discharge of all monies due. The payment shall be made in the form of a (money order, wire transfer ) at $XX.XX per month for the period of X months. Said payments will begin no later than the (date you choose) and no later than (date you calculate). In addition, upon accepting of the $xx.xx the creditor will notify all credit reporting agencies that accoun is paid as agreed and delete any entries showing account as ever being late. This compromise is expressly conditioned upon the payments being received by (date of first payment) through (date of last payment). This agreement shall be binding upon and inure to the benefit of the parties, their successor and assignees. dated____________________________________________ Signature_____________________________________ name of creditor _______________________________ creditor_________________________________ Dated___________________________________ Signature____________________________________ www.faircreditmovement.org is where i got the letter. I hope this helps.
I think that one validates the debt for them. I wouldn't use it, I would use the one that says you are not admitting that the debt is yours. This is one I copied from somewhere on here. Modify it to suit your situation, but it does not agree that the debt is yours. What if they refuse? Then you have nowhere to hide. I would still send the validation letter, but if you want to settle, don't validate for them at the same time. I also would not put my SSN on the letter, as this one has. I would use the account number they give you. In Re: Your name & Account # Dear Collection Manager: It has come to my attention through the credit bureaus that you claim I owe a debt to your agency. I can save us both some effort & time by "Settling the debt out". Below is my offer. It is not a renewed promise to pay nor does it constitute any agreement unless you sign and return it. Note, I have not agreed yet that this debt is mine and have the option to seek further proof from your agency of this debt. It has also come to my attention that your agency regularly purchases debts in the course of doing business. Suffice to say, you hold all the rights to report the debt to the credit bureaus as you see fit and you can change that listing at any time as the source reporting the debt. I am sure you are aware of my right to dispute this debt and request full proof of the obligation. Paying this unverified debt to you means little to me if we cannot mutually agree that you will report the debt as mentioned below. While I realize that your purpose is to collect debts as a collection agent, I am also aware of what a paid collection would represent for me, which is not favorable. That being said, I have concurred through the bureaus that you have the absolute right to report this debt as you see fit or not report it at all. Please do not quote to me that you are unable to change the listing or I will be forced to cease and desist our communication and request full lengthy verification of the debt. My goal is to arrange a term acceptable to both us since this debt is questionable. I will pay your company the amount of $xx as payment in full for the full satisfaction of this account. Upon receipt of the above payment, your company has agreed to change the entry on my credit reports to Paid, no lates. You further agree to remove all previous notation of delinquency. If you concur with these terms please acknowledge with your signature and return it to me. You agree the terms herein are confidential and you have the authority to make such decisions. No payment will be made without written confirmation. Upon receipt of this signed acknowledgment, I will immediately mail you funds priority mail. This is not a renewed promise to pay but rather a restricted offer only. If no terms can be met, no new arrangements will be made and the offer will be void. Name of Creditor: Signature of company officer : Date: Sincerely, Name Address Social security number Do not sign your name!
Northland Group bought Fingerhut's account and they sent me a letter also. I sent them a validation letter and they signed for it on Jan 7 and still I haven't received a response. I'll be sending the estoppel letter soon. Uniondiva or anyone, should I have sent Fingerhut also a validation letter too since they're the ones reporting on my report and not Northland Group? Or if Northland Group sent me a letter, it's out of Fingerhut's hands? Thanks for any answers. Janet
Nortland Group, of Mn. is licensed asa 3rd party collection agent in just a few Northern abutting States,like N. Dakta. That means,they are either licensed in your State, or they have purchased the account. In either case, in your validation letter,request their registration license # for your State, or a copy of your signed contract with Fingerhut.They are bottom feeders, so it is unlikely they can validate.
If the fingerhut account has been delinquent more than 6 months, chances are Northland has bought it. They always say it has been "assigned" they think we don't know they buy and sell debts for profit.
Thanks. I was unsure due to I sent them a validation w/in the 30 days they said to contact them. They also said they would settle for a smaller amount, from $579 down to $329. I tried calling them several times but I'm glad no one was there cuz I just discovered this site a few days later. Thanks everyone!! Janet
