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Everything posted by big.leather.boot

  1. My CR says 120+ past and closed by grantor. Although they verbally ok'd 50%, they never said they would send it in writing. This may have been partly my fault. It was my 1st time negotiating over the phone and I didn't hold my ground. I wavered on their request to send immediate minumum payment to stop the charge off, and they jumped on this. The next day a really aggressive account manager called and tried to get me to wire a minimum payment that day - a trifling amount compared to what I owe. I must have spent 30 min arguing w/ the guy, until he finally said "forget the settlement", presumably b/c i wouldnt wire the $, and I ended the conversation. At the time, under duress, I was thinking it was better to pay a small amt, stop the Charge OFf (b/c charge off is worse than settle?), and settle up in a week (they assured me of this). Now I realize it would also allow them more time to add on interest and late fees and maybe go back on the offer. The next day I overnighted a settlement offer w/ the terms i would accept. Now I'm just waiting to see what happens. Anyway, thanks for the help. This site is indispensible.
  2. sorry if this is really obvious, but when preparing a settlement agreement, do I do two signed originals? one for them to keep and one to return to me? thanks..
  3. discover agreed to accept 50% as full payment, but said that payment must be made w/in a few days b/c acct is 218 past and they are about to charge off, which makes it difficult for me to get it in writing unless they fax, but a machine i do not have. i pushed for better rating but they wouldnt even consider it, said best i could get was "settled". think this is a good deal? it was my first time calling after 8mths of ignoring them. has anyone been successful w/ them changing CRA info?
  4. I'm using the sample letter linked on the site to counteroffer a settlement amt from a collection agency, but is the OC the "CREDITOR" or the CA? The account was charged off. Or should I say something like: "Collection Agency XYZ., on behalf of Credit Card Co XYZ., referred to as CREDITOR and Blah Blah, referred to as DEBTOR..etc" Or does this cover it.. "This Agreement shall be binding upon and inure to the benefit of the parties, their successors and assigns." ..? Thanks
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