RJM Acquisitions LLC who have purchased my Providian account have sent me an offer which reads as follows: ****************************************** AN OPPORTUNITY Please be advised that RJM Acquisitions LLC has purchased the above referenced account. All payments or questions about this account should be directed to us at the address and telephone number provided above. RJM Aquisitions LLC can be more flexible and creative in offering you the opportunity to resolve this matter. To demonstrate our flexibility and creativity, we offer you the following opportunity: SETTLE THIS ACCOUNT FOR $684.30, A 40% DISCOUNT OFF THE CURRENT BALANCE DUE OF $1,140.50. Upon receipt and clearance of the settlement amount, we will UPDATE OUR REPORTING OF THIS ACCOUNT ON YOUR CREDIT REPORT TO PAID IN FULL, OR, REMOVE OUR REPORTING OF THIS ACCOUNT FROM YOUR CREDIT REPORT** **If you prefer credit reporting deletion instead of updating to paid in full, please check the box in the tear-off section below and send with your payment. This offer is valid through February 14, 2002 ****************************************** So, obviously, I would want the deletion but I am wary. I have never heard of a CA offering deletion for payment. I thought that was something that one could only acquire through negotiations. Also, the offer states that upon payment, RJM will "REMOVE OUR REPORTING OF THIS ACCOUNT FROM YOUR CREDIT REPORT". RJM reports this to more than one CRA so could the word "REPORT" (singular) be slippery language? One last thing, Providian reports this account as well. Is it worth while to settle this account with the CA and still have it reported by the original creditor? I really want this deletion due to the fact this account is one of my newest and is scheduled to appear on my CR's for five more years. What should I do?
is it reported to any of your bureau reports in the first place???? or is it so old it's well past the deadline for removal? I could see them offer that on accounts that had dropped...
The account went delinquent in late 1999 so it is new enough to haunt me for a few more years. I know that it is reported to EQ and EX for sure. I am still waiting for my TU but I am willing to bet that I will find it there as well.
Maybe I'm a sucker but I would make a copy of the offer and accept it. I'm sure others here will SCREAM "NO" if I'm off-base but I think this would be enough to dispute with CRA should the CA fail to follow through.
PAYMENT IS IN FULL, AND ALL 3 CRA'S WILL HAVE ACCOUNT REMOVED IN NO MORE THAN 30 DAYS, AND IT WILL NEVER REAPPEAR. YOU AGREE TO NOT RE-SELL THE BALANCE NOT PAID TO ANYBODY AT ANY TIME IN THE FUTURE, OR TRY TO COLLECT IT IN ANYWAY.
So do I send the CA a letter stating these things and ask them to agree to my terms before I will submit payment?
Sounds like your best bet to send your "counter offer" letter before you send them a payment. Also read up about the best payment method. Sending personal checks is risky. It's also been said that it's best to not acknowledge the debt is yours, while offering to pay for deletion. Require that they delete from all CRA's (there's that nasty Innovis CRA out there). -ingenue
