I started reading this board about 3 months ago when the CA first contacted me. I thought I learned a lot about dealing with OC's and CA's. After trying to deal with my problem for the first time I FAILED!! Here's my problem: About a year ago one of my CC bills stopped showing up. I called them and they said it was returned back to them. So I paid "check by phone" and gave them my address again. The next month my bill arrived. But the next two they didn't. So I received a call from them - and paid "check by phone" both months. The next 3 months - no bill, no phone call. I had a lot of other bills and was traveling so I totally forgot about contacting them. Then I get a letter from a CA demanding the money. Then the phone calls came. I knew it was never a good idea to talk to a CA. So I would ignore them whenever they called. I then found this forum. I started reading about dealing with OC's and CA's. The CA stopped calling after about a month. But I did receive an offer for about 60% of the debt payable in three installments. A month after that I received an email from the OC stating that my account is over the credit limit and that I should call them. Meanwhile one other CC closed their account with me and another two dropped my credit limits drastically stating problems with my credit. So I got a credit report from TU and it states "collection account" with the OC, and "acct closed by credit grantor". I then decided to call the OC with the following plan. a) First ask them if they own the debt or the CA. b) Agree to settle for 50% if they 1) Delete the tradeline 2) No 1099 at end of year 3) no selling remainder of debt to another CA 4) if no deletion of tradeline - then "paid in full" So I called them up and they said they own the debt. I asked what we could do and they first said pay 20% as a first payment. I laid out my offer. When I mentioned deletion of TL, they said no and transferred me. I guess I was transferred to a supervisor. They offered 50% settlement - with "settled for less amount" - but they would not delete TL, or state "paid in full". They kept on saying that "that would be lying." They stated they would never delete the TL. They said they would have to state "settled for less amount". I asked what it would take to state "paid in full" and they said all of the amount. I then offered to pay the original amount (my last CC statement 6 months ago) which is 65% of which is owed. They said no. They said they would knock of $150, and that is the most the "program" they have would let them do and let them report "paid in full". I kept on pushing for a deletion of TL, or "paid in full". But they would not budge. So any idea of what I should do? My interest rates on my other CC's with balances are going up due to the OC's TL. I don't want to lose my other CC's. Now, Should I call back and try to get "paid/never late. Balance 0. Acct closed by customer". Should I wait this out? Should I pay the 50% and get the "settled for less"? PLEASE HELP!!!
1*So I paid "check by phone" 2*They offered 50% settlement - with "settled for less amount" - but they would not delete TL, or state "paid in full". 3*I asked what it would take to state "paid in full" and they said all of the amount. 4*Should I pay the 50% and get the "settled for less"? PLEASE HELP!!! 5*They kept on saying that "that would be lying." 6*They stated they would never delete the TL. 7*They said they would have to state "settled for less amount". jessiesm1 ================================================== 1*This is a rip off if I ever saw one. I just got soaked by MBNA for $93 for making a $23 payment that way; and the 23 bucks wasn't credited to my account either. 2*Then keep your money. Why pay em for hosing your credit.?????????? 3*Oh what a great deal! That always comes standard with all payments of the whole amount. 4*Why so they can sell the rest to a ca to collect on? This way both the OC & the CA gets to trash your credit. What a 2 for the price of one deal! 5*Thay have already lied to you so what's one more if it was lying which it ain't? 6*Well put enough pressure on them and they will be chomping at the bit to delete; even if they don't get paid. 7*That's a lie : Did you see anybody holding a gun to their head saying they have to state "settled for less amount". ****************************************************** NEW MEMBERS READ THIS. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=410243#post410243 *******************************************************Read this a lot of the basic tricks to the trade are in here.
