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I have a nice little pile of letters from CA's some dating from last year.

For CA's not reporting to a CBA should I still send a DV letter? If validated attempt to settle; if not validated contact the CO to settle?

Is it likely that a CO will settle for a fraction of the cost on a past due account, say a year old?

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You should ALWAYS send a CA a DV letter. Think of it as someone walking up to you on the street and saying "hey, I know you had a Visa card...I'm collecting for it...give me money". You wouldn't do that without proof. Make the CA prove they have the right person, the right account, the right amount, and the right to collect it.

Even if they're not yet reporting, you still want the paper trail in case it ever goes further....think, "gee, your honor, I ask them for details, and they didn't provide any...how do I know they've got the right person?"

As to whether an OC will settle for less than full amount...it depends on the OC, the amount, and whether or not they think they can bully you into paying. Hard to answer.

After a year, they have probably charged off the account. Whether or not they still retain control or have sold it to a junk debt buyer also depends on a lot of things.

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