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letter from Creditor?!

Georgia Boy N Wife

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You HAVE to get it in writing. If it's a legitimate offer then they shouldn't have any problem putting it in writing...if they bulk at doing so that shoudl be a BIG red flag.

There are examples of specific wording here an on other sites but in general, it must say that paying $X amount by such and such a date will constitute the debt being setteled in full and that they will not sell the remainder or in any way try to collect the unpaid balance.

For that much money, a couple hundred dollars invested in an attorney to draw up a good document would be good insurance.

Also, I'm asuming here that you know you owe the debt and that this is either the OC or at least the current debt holder you are dealing with??? In other words, that you've gone through the validation process to make sure you aren't getting scammed!

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