Settling Agreement Document

[MKG122001]

We are in the process of calling collection companies and settling the amount owed. However, some of them are giving us a hard time when it comes to actually sending a letter of agreement before payment is sent. Obviously, were not going to send them any money until the terms are agreed upon. Are we asking for the wrong document here because they are giving us a runaround saying that they wont sent a "settled" letter until they receive funds. Is there a better way to word this when calling? Thank you!

[shabby_51]

Spend some time and read thru these threads and you will get allthe answers you need.

[MKG122001]

I have read and read, however, I cant find any that answer my particular question. We are in a time restraint here as we are closing on our refinance shortly and are having to settle over the phone (they have to be paid at closing..). I cannot figure out what my husband should be asking them for specifically as far as an agreement proposal that lists the terms of the settlement.

[qtptute]

The main question is DO YOU OWE THE AMOUNT THEY ARE ASKING FOR?

I understand the need for speed and you need to refi, but I would not settle with any CA, because they can't prove that you owe the debt (for the most part).

If you are going to call the CAs and lets say that you have a "debt" with them fro $1,000.00 and you settle for $250.00 (.25 on the dollar) they most likely will turn around and sell the remaining $750.00 to another CA and ding your CR again. I've seen it happen with many of our clients.

Deal with the OC only. Don't pay the CAs.

[astiman]

Do NOT settle over the PHONE!!!!!

Oh yes, do NOT SETTLE OVER THE PHONE!

I can't stress more, do NOT SETTLE OVER THE PHONE!