direct merchants card sold my 170-180 day late card to sherman acquisition after i sent them a settlement letter. I sent the settlement letter 12 days ago, and i just got letter from thm saying they sold my account yesterday. any way in my settlement letter I stated. "This is not to be construed as an acknowledgmnt of my liability for this debt in any form. I do not admit liability for he claims made by DM." Will this hurt me later when i validate wth sherman? How can i remove the direct merchants tradeline now that its sold? What should the premise of my letters be with sherman and direct merchants? How much did shrman pay for this account??? HELP!!!!!
I'm afraid you will have to deal with sherman from now on because they own the account. The only consolation is that DM's got screwed by selling it. I'm sure your offer was way more than what sherman paid for it. If you want to remove the OC tradeline the I think the best way to do it would be to use the "not marking the account in dispute then sueing the OC because of it" trick.
when i dispute the DM tradeline what reason should i use if i say wrong balance won't that hurt me when validating with sherman? Also is my settlement letter going to hurt me with sherman?? thanks for responding!!!
There are two or three ways. 1. Order a new credit report. 2. Subscribe to some online service such as privacyguard so you can check it every day. 3. Wait until the credit bureaus answer your dispute and send you an updated report. Quite often that is nothing more than a statement saying it has been verified and you find out nothing that way. I tried one service about a year ago and didn't like it at all but I've just recently subscribed to the privacyguard thing and so far like it fairly well.
I already sent a settlement letter to DM 2 weeks ago can you read my previous post as to what i stated in it will this letter i sent DM hurt me with sherman? thanks
Alright, let me go into it point by point. I would guess they would just ignore that statement. No, probably not. Well, you can try spamming it off or you can force Sherman to take it off. Whichever. Assuming that they will break the law and violate your rights, your premise might be that you are not going to pay criminals. I could not accurately answer that question. If DM assigned the account to them then they paid nothing at all for it. They may in fact have been paid a small sum by DM for taking the account in the first place. A listing fee in otherwords. That happens sometimes. If they bought the debt then most likely they paid anywhere from maybe 8 to 14 cents on the dollar. But the whole point is that if you pay them you are going to have an awfully rough time getting it off your credit reports and it very well may prove impossible.
And despite what Sherman will probably try to tell you, they are not the OC, and they will have to follow FDCPA. http://www.ftc.gov/os/statutes/fdcpa/letters/arbuckle.htm
Or you could considerr WestCaps tip shown below ````````````````````~~~~~~~~~~~~~~~~~~```````````` When we (Re CA) make the purchase or servicing transaction, we receive a power of attorney that gives us the inherit rights under the original cardholder agreement. We have the ability to "bind" the original creditor in certain situations. This gives us the right to settle an account and REQUIRE that the original creditor, such as Citibank, MBNA, Household etc. remove the original trade line and OURS. WestCap =========================== Some one was asiking a while back about getting the oc to delete in addition to The CA. Don't know who the poster was or on what thread they posted but here is your answer!! This gives us the right to settle an account and REQUIRE that the original creditor, such as Citibank, MBNA, Household etc. remove the original trade line and OURS. The END ************************* LB 59
Regrettably, having the right to do something does not necessarily equate to having the desire to do it.
The letter from DM says they sold the account to sherman and i can now deal with them the account was only 170-180 days late do you think they sold it so fast was because they knew it would be hard to validate? I think my DM was a different name a coupleof years ago.
Re: Re: sherman acquisition!!!! 180 days wasn't so fast. They sold it to get money from it The END ************************* LB 59
Re: Re: sherman acquisition!!!! when sherman sends letter asking for money will the balance be whatever balance was at charge-off does the balance not increase at all from the charge-off amount?
Re: Re: Re: sherman acquisition!!!! No i have'nt received letter from sherman DM just mailed me a letter yesterday, In the letter it said they sold the account to sherman Acquisition LP and they will be assigning the account to a special servicer who wil be contacting you to process all future payments and answer any questions that you may have what should i say in letter to them??
