Today I got a letter from the Collect Amer. jerks. I had offered a settlement of 50% the original balance for deletion. it says: blah blah blah blah...."The Fair Credit Reporting Act is designed to promote TRUTHFUL reporting. For this reason we cannot delete derogatory information which is truthful. We cannot agree to remove all negative notations associated with this account or delete it entirely, no matter how much you offer in repayment of this long delinquent matter. We are authorized to accept the sum of $xxx in full and complete settlement of the total amount claimed providing: 1. The sum of $xxx is recieved in this office in the form of good funds no later than October 9th 2. Upon receipt of such sum this matter will be reported truthfully as a settled collection matter." Grrrrrrr. Since when do debt collectors give a damn about the FDCPA? This is the same CA who told me it was "illegal" to delete or update to paid. Any ideas on what to do now? And I was just curious...does the mini-miranda have to be on every letter a CA sends you?
I would simply respond that they already see that this is a "long" delinquent matter. It is already a derrog on your report and so paying them does you no good. Inform them that the FCRA states that what IS reported MUST be ACCURATE. NOWHERE in the FCRA does is state or infer that an account MUST be reported. NOR does it state that a previously reported account CANNOT be deleted. Since paying them a "settled" amount gains you nothing, then there is no motivation to pay. If that derrog is going to sit there for 7 years, it can sit there unpaid for all you care. Remind them that the point of their existence is to collect on a debt. You are providing an opportunity for them to do so successfully in a business with a 96% failure rate. The ONLY condition you have is that the negotiation is a WIN-WIN for both parties. They must delete to get paid. PERIOD. Then tell them that they have until Oct## date to agree to this in writing. If they fail to agree to this in writing, from that date forward they can consider this their notification to cease and desist all further communication with you. PPPPTTTTTHHHHHH!
I agree 100 % with everything you said. I just wanted to ad that you can also advise them that they don't have to respond if you dispute it with the cra after paying them.
I'd agree with SCMOM and LKH until the last sentence. If you tell them to cease contact and you've offered to settle for 50%, they know you have money or access to money. Their next communication will likely be through a process server.
AN ABSOLUTELY PERFECT RESPONSE. Thanx SCMom. I might add that misrepresenting the law may be a boarder-line violation, albeit perhaps a stretch. The CA just told you it's illegal to do something they can easily, legally do and happens ALL THE TIME. Keep the communication doors open tho, in writting ONLY. Follow ScMoms advice.
That was my only worry- that if I pissed them off or demanded that they cease communication, they'd come after me for wage garnishment or something. But I'm not exactly rich! Wouldn't it cost them more in court/attorney fees to take legal action against me? The original amount I owe is less than $2000.
This is communication from a debt collector and any information obtained will be used for that purpose.
Does this have to be on every letter from a CA? Wanted to know also, because I've gotten about 3-5 without this. Just a "do you own your home?" and "we do accept major credit cards".
