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smeamers

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  1. I have an old collection that I had sent some money toward in the past (original debt was $2000, I sent several payments totalling $180). It has been over a year since I sent any money and I'm wondering if I can still make them validate the debt. I ask because we need to get this taken care of to buy a house and I'd love to get this off my report one way or the other. The CA is Southern Management Systems and the word on the web is that they are horribly unethical and are under investigation with the FTC, so I'm not expecting them to reply. Any thoughts? Amy
  2. I've already checked with the loan officer. He said it has to be paid.
  3. Ok, well then it sounds like we're kind of over a barrel because we already applied for a mortgage. It didn't even occur to me to settle this first. I'm feeling pretty stupid at the moment. A few years back we thought about getting a house and the lender at the time didn't care about the collection, so I guess I was kind of hoping maybe it would be the case this time. Live and learn I guess. So I'm sure the CA knows we applied for a mortgage. Am I out of options? Honestly, I'm mostly worried about getting this all behind us as soon as possible as this is the last blemish from our bad money days. Although, the less I send the CA the more we have for closing costs, moving, etc. Amy
  4. It is Southern Management Systems. They're on our credit reports as a collection agency. This is something I wanted my husband to take care of weeks ago and I got tired of waiting for him to do it. We've had great houses come and go because this is unpaid debt is keeping us from getting pre-approved for our mortgage. Amy
  5. Hi everyone, I've used this site for years to turn our credit around and just noticed recently that there are forums. So after a few years of hardwork, we've repaired our credit (we both average scores around 700). We're in the market to buy our first home and the last step is settling an old debt with a CA. The original amount that we went to collections for was $2000. At the time I didn't realize we had any other option but to slowly pay it off. Over the course of several months I sent then a total of $180 bringing our balance down to $1820 which is where it is at now, 2 1/2 years later. In the last 2 1/2 years we've not heard a peep from the CA about the debt. So after doing a lot of reading on the site and forums, I sucked it up and called the CA today. I'm assuming the secretary gave me a line of BS when she told me they were about to close for the day and that the rep in charge of my account would call me back monday because he called back in 5 minutes. He probably needed a few minutes to pull up info about me to prep himself, right? Anyway, my story was that I'm tired of my husband spending us into the poor house and that I have a little money stowed away to tie up the loose financial ends my husband's habits have left us with (not true). He asked what I was offering and I told him that I could send $400. In a very rude tone of voice he replied that my debt was $1820 and that the best he could do was $1420. I replied that I couldn't send that and he simply repeated what he had just said. Since I felt myself starting to feel emotional about the situation I decided to end the call. So I told him I would have to think it over to which he replied I better not think too long because the offer is only good for a day. Ok, so I know how this works. He doesn't get paid unless I send money, they bought the debt for much less than we owed, he's trained to be intimidating etc. Despite all this, I find that this is really difficult for me. I hate confrontation and I'm a big pushover. And to make matters worse, I kind of locked myself into dealing with these people myself because of the story I had hoped would work. My husband is much better at this stuff. I'm obviously not calling back today to take his "deal". But I'm wondering if I should stick to the story I gave or not. I mean, if we haven't paid in years, I'm sure he must figure we've got a big reason to suddenly want to pay this off. But I figured I'd could always say that I'm planning on leaving my husband and I'm trying to tie up loose ends that we share financially. On the other hand I wonder if it wouldn't be better to use the time card myself, ie: you haven't sued us in 3 years, so do you want some money or do we just let the SOL expire. I suppose we could bluff and say we'd be just as happy to keep on renting or take a land contract rather than "waste" down payment money settling this debt. I just don't know the best way to proceed. Any thoughts? Thanks for reading my novel, lol! Amy
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