Hello all, My reports have a bunch of charge offs, that I would like to try and settle. My CR show the accounts as "charged-off" from the OC. But, when I contact the OC, they tell me I must deal with the CA's (I have been receiving letters from the CA's regularily). My original plan was to dela with the OC, agree on a settle price, and try and have them list the account as paid as agreed. However, how can I do this if I can only speak with the CA? Do I negotiate with the CA, and settle with them? Will they change the OC TL on my report to paid-as-agreed, or will the OC wimply change it to Settled? I really confused on this one (although I guess it's actually better that the CA is NOT listed on my CR's). Thanx for any help. HUV
Hi Butch, Thanx for the welcome and for the advice. Now (unfortunately), more questions. What if I am outside the 30 day window to request validation of the account with the CA? Do I simply wait until another letter comes? Also, can I send validation to the CA, and then call and see what I can do with the OC? Can I ask the OC who currently owns the debt? Thanx again for getting back to me. This site has actually made me think maybe i'm not as bad off as I thought. There may be hope yet!. HUV
Re: Re: CA not reporting to CRA but... Hi Butch, Thanx again for everything. Here are the accounts in question (actaully there a a few more but I do not have the paper work on them). JC Penneys (CA - American Recovery Services and Wolpoff & Abramson LLP). Amercan Recovery is more recent, though. Haven't heard from anyone on this account since 10/02. Owe $1775, charged off 12/01. Aria\GetSmart (CA - Van Ru Credit) Haven't heard from anyone since 08/02, changred off in 01/02, owe $2860. Spiegel (CA - Penn Credit Corporation)Haven't heard from anyone since 06/02, charged off in 08/01, owe $250. Providian (CA - American Recovery Services) Haven't heard from anyone since 03/02, chanrged off 01/02, owe $3000 Capital One - TWO of them (CA - OSI) Recently reveived letter from Caital one on both accounts, but have heard from OSI collections back in 03/02. Charged off 12/01, both accounts $700-$800 (although most of that was late fees, charges, etc). So, what I need to do is send VAL letters to all the most recent CA's, and tehn call the OC to see he owns the debt. If the OC still owns, then I will try and work it out with them! THANX AGAIN! -=huv=-
1*What if I am outside the 30 day window to request validation of the account with the CA? 2*Do I simply wait until another letter comes? huvason ============= 1* There is no limit on your right to receive validation 30 days or other wise. 2* No what if they never send you another letter but report it to the CRAs instead? The END ************************* LB 59
Re: Re: CA not reporting to CRA but... 1*So, what I need to do is send VAL. letters to all the most recent CA's, and 2* then call the OC to see he owns the debt. 3*If the OC still owns, then I will try and work it out with them! THANX AGAIN! -=huv=- ============= 1* No. send it to all of them. If you only send it to the recent ones the old CAs are still on there screwing you, your reports and your scores so you get to over pay for loans and insurance. 2* & 3 See where Validation goes before doing either. The END ************************* LB 59
