My husband had a Dell account a few years ago and when times got tough, stopped paying it. It ended up on his credit report as owing them $6000 some odd dollars, which the computer he bought did not cost even close to that. Recently, as we're both trying to clean up our credit, he got a phone call from them wanting to settle. They said they would settle for $4000, and then he got them down to $3400...I've been doing alot of research and reading books on credit repair, and had I been home when he got that call would NOT have let him settle. Anyways, he settled for the $3400, and they took $1700 directly out of our bank account this week, and they're supposed to be taking $1700 out next month. Is there anything we can do at this point as far as getting out of paying them $1700 more dollars? My husband hasn't been doing as much research as I have and just wants to pay off debts to clean up his credit. Therefore, he didn't dispute anything with Dell (the balance was WAY higher-$6000, than it should have been) Isn't $1700 enough to settle for? Geez, we could have 2 computers for $1700!! Is it effective to call Dell and see if they will settle for the $1700 we've already paid them? In a book I read, it says to contact creditor and offer a sob story such as "I just lost my job and can't afford much more than that" and even suggest you're seriously considering filing bankruptcy (which means they will never get paid anyway) Or put a stop payment on the money they're due to take out next month? There was no written agreement, this was all over the phone, and I don't even think my husband told them he wants it REMOVED from his report...so, I'm just kinda at a standstill with this one. Any help is GREATLY appreciated! Thanks in advance!
It can't hurt to call them and try to talk this through, but I doubt you'll make much headway since he already made the verbal agreement to settle for $3,400. Are you 100% sure he never signed anything in writing? Also, have you received any sort of breakdown for the late fees, interest, etc. from Dell? I'm just wondering how much the original purchase was for and how much you owe in interest and fees on top of that. It's tough to really say wether $1,700 is a reasonable settlement without knowing all the details.
You could have 2 computers for a lot less than $1700. The stop pay may not work but it will cost you a bank fee whether it works or not. If you really are trying to work with Dell itself then trying to get much of anything done other than paying it off on schedule as agreed is going to be very difficult if not impossible. If you can possibly do it I would suggest just making sure that next payment goes through and get out from under the mess the easiest way possible.
