I recently contacted a collection agency on a two year old Providian account that was listed as a charge-off. I arrived at a settlement amount and they sent a confirmation letter. Apparently I contacted the second agency just as Providian was pulling a batch of their accounts and sending them elsewhere. Because just three days letter, the third collection agency along the line entered the picture and demands payment in full. My question, is Providian bound to accept the settlement amount since I have a written agreement with their reprsentative? I have until June 1st to make the cutoff or the settlement is null and void. What are my options? Any help would be very much appreciated!
RE: Advice needed on catch-22 If the settlement was reached before Providian re-sold the debts, then the agreement is binding, as the agency had full representation rights of the creditor. spyguyjim wrote: ------------------------------- I recently contacted a collection agency on a two year old Providian account that was listed as a charge-off. I arrived at a settlement amount and they sent a confirmation letter. Apparently I contacted the second agency just as Providian was pulling a batch of their accounts and sending them elsewhere. Because just three days letter, the third collection agency along the line entered the picture and demands payment in full. My question, is Providian bound to accept the settlement amount since I have a written agreement with their reprsentative? I have until June 1st to make the cutoff or the settlement is null and void. What are my options? Any help would be very much appreciated!
