Motru makes a sound decision, (IMO) to settle an obligation for 38%. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&pgnum=1&postid=288594#post288594 Motru describes a situation where it's wise to settle. Settling a $4,000 debt for $1,500 is a good deal. For one thing, it won't be hanging over her head, so she can move on. Sometimes however, the CA is belligerent in their refusal to delete in exchange for pmt. As we've seen, especially recently, they simply will not budge. In these cases I might suggest we shall have to attempt to FORCE them to delete. Steps; 1) Open a separate checking account in which you place the amt. you will be paying and walk out with temporary checks 2) Send them a letter directly to the attention of the lady with whom you made the agreement. You don't want anyone else scrutinizing this endeavor. Send CRRR of course, and include 2 checks, (one of which is postdated) each for 50% of the pmt. amt. But the second check should be postdated for 2 weeks hence. (Since most people get paid every 2 weeks this will make the situation most believable). You do this by dating the check in the "date" portion as the first check. Both checks should be dated the same in the "date" portion. But in the "memo" portion or your second check you put; "void until xx/xx/xxxx", [2 weeks later]. 3) WAIT, until your checks clear. 4) In Motru's case, she wants a CLEAR title to the car and will want to wait until she gets it. Let's take a look; 1) Open a separate checking account in which you place the amt. you will be paying Opening a separate account will disallow them from deducting any further monies from your account without permission. This tactic will necessitate writing personal checks to clear the problem. We can't use Money Orders. You wouldn't want to anyway. Using MO's implies that you know how they operate. Most people pay by check. You don't want to make yourself "stand out" any more than necessary. 2) Send them a letter and the 2 checks. Include the following language in your letter verbatum; Dear Ms. Collector, Thank you for your willingness to help clear up this misunderstanding. As per your request I'm enclosing 2 checks which total the full amt. we agreed to upon finalize this account. The first is cashable now. The second will need to be held for (14 days) until xx/xx/xxxx, which is when I next get paid. DON'T use the word "postdated". Include the verbiage exactly that way. It can be construed legally as your having agreed to write a postdated check as per her request. 3) Be patient. You're getting ready to kick up a fuss. Make sure the debt is completely resolved before you do. In Motru's case she wants a clear title. Now the fun part; § 808. Unfair practices [15 USC 1692f] ... the following conduct is a violation of this section: (2) The acceptance by a debt collector from any person of a check or other payment instrument postdated by more than five days unless such person is notified in writing of the debt collector's intent to deposit such check or instrument not more than ten nor less than three business days prior to such deposit. If you do this, this way, I believe there is a slim chance that they will comply with the law to the letter. Once the entire account is resolved, and you're SURE you have all your documentation, you'll be able to file an immediate small claims case for violation of the above section. You're hoping they will either forget or just not bother with sending this reminder notice. I think if Motru handles herself right and doesn't let on that she knows the law, the CA will be too busy, lazy, stupid to comply. As soon as your case is filed it'll be a simple matter of agreeing to drop your suit AFTER the account is deleted from all 3 reports, with a letter that says they WILL NOT re-report. Let's try it.
That sounds like a GREAT plan...problem- the CA wants me to make the payment to the local office. I can still mail it but she does not work in the local office so how do I send it to her attention? Is there any way that I can CCCR and still refer in my letter that I s/w Ms. CA and incl. her direct #. She should have noted the acct. Also, she said that I needed to make $1000 by 12/31 and $500 by 1/31. Does this matter or I should stick with 2 chks at 50% each? BTW I REALLY appreciate your help in this matter. My New Year is looking better and better by the minute. LOL
Butch, you are indeed a lifesaver! Well, the CA that I orig s/w was not in today which was good for me. I was able to get the mailing address from another rep. I will not send my first payment until I have the agreement letter stating that she will accept $1500 as full payment. This will give me a little more time since she has been out of the office for the holidays and wasn't able to be reached. I made sure that the acct was noted of my call. Thanks again for your help...I will definately keep you posted of my success.
Would purposely post-dating the check be considered entrapement? Is it true that, you can write in the "memo" section "for deletion" and if they cash it, there is a contractual obligation to delete?
Re: Re: Guerilla Settlement Tactic In my sister's case, we would still split up the payment into two checks even though it is only a $100 debt? Rmemeber, in her case, the entire debt is $100 so she would be paying off the entire thing (not just a portion). The CA is not agreeing to settle for less. Couldn't she just send one check for the entire amount and post-date it instead of splitting it into two $50 checks? It seems like they may have trouble believing she has to wait two weeks to make a $50 payment. And, since they don't answer our letters, they will never agree to anything. Are we just saying "As per your request" even if they didn't?? Or am I missing something here.
Re: Re: Guerilla Settlement Tactic no...I can't see paying something that isn't actually owed so I am sending Experian a letter requesting deletion and if they don't want to comply, then we will sue them and if the TL still is not deleted, we will sue the CA directly.
Butch, did you hear the outcome of these tactics for Motru? Did this actually work? I may want to use your idea. One question: Why date the check for today, with the notation in the memo field to cash later? Wouldn't I just post date the check on the normal date line??
Re: Re: Guerilla Settlement Tactic Don't know how Mecro came out GH. What would stop them from claiming you'd just sent it prior to their cashing it?
Re: Re: Guerilla Settlement Tactic Don't know how Mecro came out GH. What would stop them from claiming you'd just sent it prior to their cashing it?
You make a good point, Butch. I like the way you think (grin). I need to check my local laws about postdated checks. I was told once that checks were negotiable on the date issued, regardless of date. I'm going to check the law, if I can find it. Has anyone else had any experience with postdating a check? Another tactic I've read is to put a fairly wordy restrictive endorsement (on the back, in the endorsement area) referencing payment in full and reference settlement agreement by date. I had planned to do just this, but of course CA can't bring themselves to delete for payment in full. My plan now is to go to the judgment hearing in May (they will win) and let them garnish my check (they know where I work). Why make it easy for them?
