I contacted the CA today regard my charge card account, explained the situation why I never got in touch with them Little background first. Got divorced, ex-husband was suppose to pay charge per settlement agreement, he stopped paying in September of 2002, didn't have any idea he stopped paying until I got my credit report. I was not notified by CA, ex-husband was getting letters. Ex isn't paying any of his bills, was going to take him to court to sue him but since he has nothing, I can't get anything out of him. CA gave me a few options. Charge card balance is around $6400.00. Option 1 - pay $4600.00 up front, get the rest wiped clean. Option 2 - pay $4600.00 in 3 payments (check by phone), get rest wiped clean. Option 3 - pay a huge sum in the beginning and then make monthly payments but interest will be tacked on to unpaid balance. Option 4 - file for a hardship program to pay only monthly payments but interest will again be tacked on to unpaid monthly balance. I don't have $4600.00 to pay them at this point. The man I spoke with at the CA was actually very nice to me and respected the fact that I called them to discuss my options. Is $4600.00 a lot of money or do you think I can get them to go lower or spread out the 3 payments into 6 payments?
NO CHECK BY PHONE!!!!!!!!!! Stay away from it if you can. As far as the definition of "wiped clean" does this mean from your credit report and the differential balance? Or does it just mean the difference from the 6400 and 4600? Be very clear on what they are saying. Also, be clear in saying that you want full deletion or a paid as agreed status. You don't want to end up with "settled for less than amount" or anything like that. Good job for contacting them...it's like buying a car...you never say yes at the first offer. Turn the tables. They are trying to make you feel like you're getting a good deal. By turning the tables, make them feel like the lucky ones. Get anything in writing before paying them anything. Good luck
Did your husband charge on the card AFTER the divorce? Did you remove yourself from the account for any future charges? I'm asking are you really responsible for the full balance? I understand the divorce court order vs. cc thing (been there done that), but wondering about the above.
Wiped clean meaning the differential balance. The man at the CA told me that what will show on my credit report all depends on the OC, but it will say something on the order of settlement paid in full. I asked him if I pay the $4600, wil someone come after me for the rest and he said no. I will get all of this in writing. My ex- husband can't charge on the card anymore. The account was closed way before we divorced. I can't get my name removed from the account because I am the primary card holder and he is the secondary. Plus, no names can be removed from the card because it is very delinquent. After this is all said and done and it does get paid, I will be taking my ex-husband to small claims court for the money I paid. It is alot cheaper than taking him to higher court with an attorney. I have a signed settlement agreement. I would say I have a good leg to stand on once I pay it, because he signed a contract.
GO THE VALIDATION ROUTE and see if they can even prove you are liable before entering into an agreement to pay. If they can't and they violate your rights you can get a small paycheck and if they can you can enter some agreement at that point. By the way if they violate your rights during validation the costs of their violations may be high enough to wipe out the debt.
=============== 1*This agreement is between you and your ex not your ex and the creditor or CA therefore neither of them are bound by it. However you are still bound by the agreement between yourself and the creditor or CA. 2*The priority here is not paying the CA. It's protecting your credit. 3*Why pay them $4600 for screwing up your credit reports like this? LB 59
How can I validate something that I know I am responsible for. The OC and CA don't care that I have a settlement agreement and my ex-husband was suppose to pay. The charge card company was not party to my divorce/settlement agreement. They are going after me because I am primary on the card. Maybe I'm misunderstanding this. Help.
Re: Re: Contacted CA - Is This Good? [2*Maybe I'm misunderstanding this. 3*How can I validate something that I know I am responsible for? Halo611 ======================== 2*You certainly are. The misunderstanding is: You are not the one validating. The CA is responsible for that. LB 59QUOTE]Originally posted by Halo611 How can I validate something that I know I am responsible for. The OC and CA don't care that I have a settlement agreement and my ex-husband was suppose to pay. The charge card company was not party to my divorce/settlement agreement. They are going after me because I am primary on the card. Maybe I'm misunderstanding this. Help. [/QUOTE]
Re: Re: Contacted CA - Is This Good? So basically what I need is a letter from the CA validating this charge card account. If they send me a letter validating this charge card then I proceed with a settlement with them? I'm sorry I am asking so many questions but this is all new to me and I am trying to find the right answers so I don't screw anything up.
Re: Re: Contacted CA - Is This Good? Never give a CA access to your checking in any manner or they will bleed your account dry.
Re: Re: Re: Contacted CA - Is This Good? 1*No you don't want one of their lying letters. 2*How would such a letter prove you owed them anything as they can say anything they want in it? **No what you want is Validation IE proof that you owe the debt which includes a copy of the signed app & signed agreement as well as a copy of the complete accurate accounting of the account history.
Re: Re: Contacted CA - Is This Good? Thank you so much for your help. I am understanding this alot better. As far as the check by phone issue. If you specify or they specify the amount that is to be taken out, I thought they could not touch any more or any less than the amount agreed upon. If they would take out amount not agreed upon, couldn't you sue them or get them for some sort of legal issue?
Re: Re: Contacted CA - Is This Good? How are you going to PROVE they took out more than you said? Again NEVER a check by phone and if you can possibly avoid it no check off of your personal account. It is safest to use M.O., Cashiers check or set up an account only for this payment and deposit only what you want to pay them. Most CAs will do anything legal or illegal to extract money from you. Protect yourself at all times.
Everyone else here has just about wrapped it up giving you the right information. Just a couple of points they didn't really cover for you. The first one is this. Yep. The guy was probably telling you just exactly how that was going to be reported. What he didn't tell you was that even having the name of his company as reporting is sufficient to screw up your credit. That word "settlement" means they let you off the hook for some of the money you owed and it also means that you had to be forced into paying even if you did finally agree to do it and in fact did do it. That's a horrible thankyou note for having paid the bill. Make them take it off or else --- and also or else you will suffer for it for the full time it stays on your credit reports which may or may not be the 7 years 180 that it may stay there legally. It may stay there illegally if you are not careful and vigilant. Right now they are trying to "force" you. Put the shoe on the other foot. How? Make them validate the debt. That's the starting point. And just like brown pointed out to you, a letter isn't going to get the job done. And since that's what you are likely to get back if that then there is your foot in the door. The next one I'll comment on is the business about checks and checks by phone. The poster who told you about that is also exactly right but you asked if there isn't some kind of law about their taking out unauthorized amounts or taking out amounts faster than authorized by you. You bet there is. You bet there is. But the trick is how are you going to prove they did it if all the conversation is by phone and the agreement is reached on the phone? What you have to do is to reach an agreement then demand they put that agreement in writing and send it to you and if they refuse to do that then tell them to go take a long walk off a short pier trash the agreement and as you were told by someone else, send them the payments using money orders or whatever but not out of your personal checking account.
Hello???AM I missing something here??? No one has asked WHEN this chargeoff occured. At this point if the charge off happened recently and you are still within the SOL, I would play VERY carefully. $6400 is a lot of money, not some $500 debt a creditor may not be willing to sue for. Second who is the CA?? Validation is always the way to go, but personally with an amount like this I would play my cards very carefully and slowly. "settlement paid in full" is not a notation *I've* ever seen (doesn't mean it's not out there), but honestly it doesn't make sense. It was either settled, or paid in full. I don't think it can be both. If you take this settlement will you have to pay taxes on the difference? I would say a little more of a timeline to get a more detailed response..... Anyone else?
Settlement paid in full means they took a settlement and then it was paid in full. I'm sure I've seen it but I could be wrong. Good Post!
This charge card hasn't been charged-off. The last payment made was on in September of 2002. I am assuming that charge-off takes place next month (March 2003). The CA is GC Services.
