Ok here is the story in case you don't remember it: http://consumers.creditnet.com/stra...ead.php?s=&threadid=48697&highlight=Lfabulous I got a letter from Cap One on Saturday. I spoke with my CCCS counselor on Thursday. Cap One will take the 150.00 payment and not pursue legal action, but they won't put this in writing for me. I've dealt with CAs before you give them an amount that they request and 3 months later they are hounding you for more and threatening legal action again. This is what happened with my Amex accounts. Would you demand a letter stating the promise. $150 per month payment in exchange for 0% interest and no more late or penalty fees assessed to the account? He would not provide this to the CCCS. When I told her i wanted it in writing she said: I asked him for this, but he wouldn't provide it. He said that he won't give anything until a payment has posted in that amount. I told him to be sure, then, to include that with the receipt. As far as the 0%, if he does call back, I'll ask him to verify this, but I can almost guarantee that he won't give it to you in writing until that first payment posts, so I think that's the payment we should send and if he renigs on anything, we can take it from there. On a side note regarding the Amex accounts - payments are not being rejected. CCCS counselor says: They have not rejected any payments but that's all we can verify--it doesn't appear that they're they're 'holding them' as long as they have not rejected them and they haven't. AMEX has given us electronic 'receipts' which means that they should be posting payments OR forwarding them over. Now it would be unusual for a creditor to not forward payment to the collection agency, but perhaps they're not doing so because posting payments to the original account in an effort to avoid the commission payments to the collection agency. AMEX won't talk to us, and as you recall, neither will the collection agency, unless you're on the phone. I have sent vaidation letters on all of the above accounts and I guess I am unclear as to what my next steps should be and if I should even keep these accounts with CCCS. Thoughts Doc, Jlynn, or anyone?
Thanks Jlynn you made me laugh for the first time in weeks. I'm just wondering if I should be dealing with the two Cap One and Amex accounts myself or keep them in CCCS if that will make a hill of beans if they go to sue me.
Here's my thoughts. You are at a stand off with Cap One. Worse case, you make the first payment, and they don't send you an agreement - then you pull them out. Have they verbally agreed to the terms? Amex - What kind of payment are you making? Who is the CA? Is this already charged off?
Ok so get the verbal agreement from Capital One and then if I make the payment and he doesn't send me the letter stating the terms, then what? Amex is in chargeoff status - CA says they haven't posted payments, CCCS said payments have not been refused and it is illegal for them to take payments and not post them. CA is with Nationwide, they are discorganized and I'm continually having to speak with different people. They backed me in a corner about 6 months ago always demanding more money. Currently I pay 84.00 on one account 55.00 on the other account.
Re: Re: Doc or Jlynn - What would you do? See, this is why I'm still thinking. You are between a rock and a hard place. Will the $150 be enough to reduce your principal balance? Or are you throwing good money after bad? You really aren't going to know until you send them the first check. You want them to send you statements each month so that you can keep a close eye on it. There are soooo many variables its really hard to say. If they won't work with you and send you the agreement, so you pull them out of CCCS they are still there, they could still sue you. [QUOTEAmex is in chargeoff status - CA says they haven't posted payments, CCCS said payments have not been refused and it is illegal for them to take payments and not post them. CA is with Nationwide, they are discorganized and I'm continually having to speak with different people. They backed me in a corner about 6 months ago always demanding more money. Currently I pay 84.00 on one account 55.00 on the other account. [/QUOTE] CCCS is right - but who are they sending the payment to? Nationwide or Amex? Does Nationwide own the account? You are sending payments and have no idea if they are being credited properly?
How's this for a possibility: If they won't put it in writing, YOU put it in writing. Send a cover letter with your first payment saying something like "Pursuant to my conversation and agreement with MR. XXXX on (Date) here is the first payment towards setling thius account on the agreed upon terms which are (Blah, Blah, Blah, Yada, Yada, Yada). I shall consider these tems to be acceptable unless I hear from you in writing by (Date). This kind of letter tends to hold some weight in court since it gives Cap1 a chance to refute them, and Cap1 choosing NOt to, iss deemed to have accepted them.
Re: Re: Doc or Jlynn - What would you do? CCCS is right - but who are they sending the payment to? Nationwide or Amex? Does Nationwide own the account? You are sending payments and have no idea if they are being credited properly? They are sending payments to Amex. They are thinking that amex is applying the payments but amex won't talk to us they only refer us to Nationwide. Nationwide says they haven't received payments. CCCS thinks perhaps after a few payments Amex will pull the account back, but can't guarantee this. If I get the validation back it should have the payment record right? what are my rights if these payments haven't been applied to the accounts and they aren't rejecting them.
Great advice, never thought of this. Should I state by them cashing the check they are validating that the terms in the letter are correct? Should I send them a personal check? This scares me hate for them to get ahold of my chking account numbers etc. Thoughts?
Re: Re: Re: Doc or Jlynn - What would you do? Yes, the validation should have the payment record. Now, I'm thinking about a "nutcase letter" for Amex. We need to find the law (I think it is in the FCBA) that gives them a time limit for posting payments. Let Amex know Nationwide sux and has no record of the payments, Amex doesn't seem to be posting them, and everyone is going down in the big lawsuit if you don't get some answers pronto. Now, this would be a next step of Amex and/or Nationwide does not respond to your cmrrr. Also, since you are about to dispute with the CRA's - watch for a balance change if they come back verified. This is getting interesting.
Re: Re: Doc or Jlynn - What would you do? Yea, I like that idea too! Send them a cashier's check - definitely.
Re: Re: Re: Doc or Jlynn - What would you do? Problem is Amex won't talk to me, they just refer me to Nationwide. So I can't get answers from them and Nationwide says they have no record of two recent payments.
Re: Re: Re: Doc or Jlynn - What would you do? Amex may CHOOSE not to talk to you, but you Fabulous, if you don't get some answers, are going to become a litigous nutcase. You know every federally granted right you have, and your payments are not going to hang around in limbo while everybody starts pointing the finger at each other. They have just received the Certified mail from you, lets see if you get a response.
Re: Re: Re: Doc or Jlynn - What would you do? My counselor from CCCS pulled this from the file: I am writing regarding your Capital One account. I have spoke with XXXX at Capital One and he communicated the following important account information. He let me know that account has been charged off and is accruing 14.9% interest daily. He said that if you were able to make a monthly payment of $200.00 he would be willing to waive the interest and help assist you get the balance paid down. Last week he said $150.00. So here is what I'm writing: "Pursuant to my conversation and agreement with XXXX on May 19 then again on July 3 here is the first payment towards setling this account on the agreed upon terms which are the interest will be waived and the account will accrue no further penalties or collection fees as long as 150.00 is paid to account each month till account balance is paid in full. I shall consider these tems to be acceptable unless I hear from you in writing by July 20, 2003. Additions, comments?
Re: Re: Re: Doc or Jlynn - What would you do? Ok now I have a caller who left a message on my phone from NCO financial. Who is this? This is interesting Both Amex accounts are with Nationwide One Capital One is with the Internal Capital One account and the other with URS Agency so now who the hell is NCO and why are they calling me. As far as I know I have know other outstanding debts. They just received my validation letters within the last 5 days, could they have moved one of my accounts already or is this just a branch of one of the above?
When I was a bill collector, it wasn't uncommon for us to refuse to put an agreement in writing until payments had been made. Why? Because very often the debtor isn't interested in making an agreement to pay their bills, but is looking for an excuse to stall. You spend the time typing out a letter, a week later they say they never got it, a week after that they say they still havn't got it, could you pease send another? A week after that, they say they got it, but now there is something wrong with it...the bill collector has hundreds of accounts to work, and this one is taking up a huge amount of time and not actually paying any money. I don't know anything about this bill collector. He may or may not be planning on making an agreement with you. I will say that your downside risk in sending the money is pretty low. Worst case scenerio, he forgets he ever talked to you and you're in the same position as you are now, only you've paid your debt down by $150. Best case, he takes the payment as a show of good faith, and sends you the agreement you're looking for. My suggestion is to follow the advice of your CCCS counselor. Whatever the outcome, good luck!
She and I called him on the phone he is mailing my letter as I requested. I told him that one CA agency really burned me on asking me to increase my payments then every week asking me to do more or they would sue me. This is good, but my job is not over I'm still worried about the two Amex accounts and my other Capital one which looks like URS sent it to NCO Financial.
