I just had a call from Integrity financial part. who were assigned my Chase C/C account. They demanded a payment of some kind now and a payoff of 40% of debt over 12 months. They said the offer is only on the table till tomorrow. Last month I read on this site a piece titled never deal w/collection agency. It stated just send out the 30 day letter for debt validation. I can do that but it may cause the collector to withdraw the settlement offer. I expect that the settlement payments will start small and increase to $1800 month which I cannot afford. What are my options. What should I do. What can they do to me. If I do not pay what will they do next? I assume thy want me to pay something now to legitimize their claim.
I definitely recommend validating the debt first in order to protect your rights under the FDCPA. Plus, you want to make sure that who you pay actually has the right to collect it. Don't let them push you into anything by telling you that the deal will be off the table tomorrow. They'll be other offers down the road, and they may even be better.
Has this company provided any goods or services for which they have legal standing in a court of law? Has this company violated your privacy rights by obtaining information about you without your consent? Have you signed any legal contract with this company
