chillydawg11 Posted October 8, 2004 Report Share Posted October 8, 2004 We have 2 accounts with Providian. We experienced financial problems and my wife tried to work with the company but they would not budge. It has been close to a year since last payment. Called Providian but they would not discuss since they turned over 1 account to National Asset Management. They e-mailed and right off the bat offered to settle for 50% of amount owed. Should I deal with them? We sent letters to Providian offering to settle but they have not replied, it has been 6 weeks since they received. I sent everything to them registered. I want to counter offer 35% and clear off credit report. When they made the offer we said that we were trying to settle with original creditor. A supervisor called back 10 minutes later and said she spoke with Providian and they said no they were not and that it was illegal for them to do so if they (Nat Asset Management) had assumed the debt. Sorry for the long post!! Link to comment Share on other sites More sharing options...
willingtocope Posted October 8, 2004 Report Share Posted October 8, 2004 Do it in writing. Never believe anything you're told by either the OC or CA on the phone (unless you're recording)...their main purpose in talking with you is to indimidate you into doing something you may not have to.Sounds to me like you're on the right track. Wait for a response to your offer...make sure its in writing. Link to comment Share on other sites More sharing options...
chillydawg11 Posted October 18, 2004 Author Report Share Posted October 18, 2004 I am sorry, I should been more specific with my questions. We are still waiting on a reply from Providian. It has been over 2 months now. The CA (National Asset) is saying they have the account and we can only negotiate with them. Is this true? They also have said they have no control over the OC places on our credit report. Is this true also? I want to walk away from this thing with a credit report that says paid in full from OC and no notations from the CA. Is it possible??Thank you! Link to comment Share on other sites More sharing options...
willingtocope Posted October 18, 2004 Report Share Posted October 18, 2004 Well...check your credit reports. If they say the OC "transferred to another lender", or "charged-off, account sold", or something to that effect then the CA now owns the debt. Anything else means the OC has contracted with the CA to hassle you. If its the former, then the OC could call it back but probably won't...if the latter, the OC would probably want 100% payment to call it back.In either case, DV the CA CMRRR and make them prove they've got the right person, the right amount, the right account, and the right to collect it in your state...you'll find debt validation letters all over this site.Do not talk with them on the phone...they will lie and twist the truth...do everything in writing. Link to comment Share on other sites More sharing options...
chillydawg11 Posted December 6, 2004 Author Report Share Posted December 6, 2004 This is an update. I sent the debt validation letter 2 days after my last post. No reply. Then I get a phone call from an attorneys office. He refuses to give me his address or any proof that his clients have the debt just that they now had the debt. He said that it was validated by the payment history. Guy was really aggressive. Then said he would settle the debt that day or he would take us to court. He told me to fax him a signed letter saying I agreed to pay $5,000 by 7:00pm and the matter would be settled. After I quit laughing, he said he would e-mail me the demands even though my modem was dead (just fixed). It seems like every time I start negotiating with these people they hand off the account like a football. I am ready to get a lawyer and file bankruptcy. Any advice would be appreciated!! Link to comment Share on other sites More sharing options...
willingtocope Posted December 7, 2004 Report Share Posted December 7, 2004 If this a-hole does indeed email you something, maybe you can get an address off of that...or look up the fax number he gave you.He's definitely committed a bunch of violations of the FDCPA. If you had proof, you could take HIM to court.You might want to get a phone recorder...and for that matter, it wouldn't hurt to say "Okay, continue, I'm now recording this conversation" everytime one of these guys call. If they refuse to give you any info, say "Okay, I've recorded your refusal" and hang up.Need more details on total debt to offer any opinion on BK... Link to comment Share on other sites More sharing options...
Recommended Posts