I am new to the board and hoping you can help me. I have a $6500 account that was just sent to RMA. I know the first step is to send a validation letter to RMA, which I will do. I really would like to settle this account at some point, but need to save up some money. Do I approach RMA about settlement or American Express? Also, since Am Ex sent this to RMA, does this mean that Am Ex has decided to NOT sue me? I know that RMA could eventually sue me, but just wanted to know if Am Ex passed on it. If RMA does decide to sue, how much time do you think I have until this happens? Has anyone done settlement in installment plans? I know most OC and CA's like one lump sum, but would like to know others experiences. Any advice anyone could give me.....I would really appreciate.....especially for those that have a high balance like mine. Sorry for all of the questions.
It doesn't necessarily mean they have decided not to sue you. They could have assigned it to RMA (vs. selling the debt to them), and if RMA has no luck collecting from you, they could decide to sue you later, before the SOL runs out.
The last time I charged on it was around 9/02, however, I think I did something stupid.....I paid $80 of January this year. I guess I just wanted to show them that I would make attempts to pay. I am sure this will probably re-age it....although they still sent it to RMA anyway.
