debt settlement letter, what do you think?

[hotdog]

Hi, all. I am settling debts myself. I have an account with Chase and have been dealing with the CA. They tell me Chase wants $11,000 but I only have $7,000. The CA said they could accept the $7,000 if I made 2 payments so they are in different quarterly months. (?) They apparently need the account to stay in their office until 7/07 and then after the 2nd payment the account will be settled in full. Here's the wording in the e-mail I received today:

"Dear Hotdog,

Valentine and Kebartas, Inc. as a legally authorized representative of Chase Bank, USA, N.A. is offering a Settlement on the aforementioned account.

We hereby agree to provide a full release of this liability for no less than the sum of Seven Thousand Dollars and Zero Cents ($7,000.00). Our offer to release the outstanding balance is contingent upon Six Thousand Five Hundred Dollars and Zero Cents ($6,500.00) being remitted to this office today via check by phone. The remaining settlement balance of Five Hundred Dollars and Zero Cents must be received today via check by phone with funds payable on 7/6/07. Thank you for your cooperation in the handling of this matter.

Upon successful negotiation of funds, this will represent a settlement in full resulting in a full release of the liability and our client will update your credit report(s) accordingly."

I have no checking account and have notified them that I cannot send a check by phone but can do a cashier's check overnighted to them. I didn't make the deadline today and will hopefully be able to do it on Mon AM if legitimate. Any tricky wording or other red flags that anyone sees? I just want to make sure that this will go away as soon as the funds are dealt with in July. I have PMed a couple of you and appreciate your responses. Thank you in advance.....Hotdog

[divemedic]

"Dear Hotdog,

Valentine and Kebartas, Inc. as a legally authorized representative of Chase Bank, USA, N.A. is offering a Settlement on the aforementioned account.

We hereby agree to provide a full release of this liability for no less than the sum of Seven Thousand Dollars and Zero Cents ($7,000.00). Our offer to release the outstanding balance is contingent upon Six Thousand Five Hundred Dollars and Zero Cents ($6,500.00) being remitted to this office today via check by phone. The remaining settlement balance of Five Hundred Dollars and Zero Cents must be received today via check by phone with funds payable on 7/6/07. Thank you for your cooperation in the handling of this matter.

Upon successful negotiation of funds, this will represent a settlement in full resulting in a full release of the liability and our client will update your credit report(s) accordingly."

I have no checking account and have notified them that I cannot send a check by phone but can do a cashier's check overnighted to them. I didn't make the deadline today and will hopefully be able to do it on Mon AM if legitimate. Any tricky wording or other red flags that anyone sees? I just want to make sure that this will go away as soon as the funds are dealt with in July. I have PMed a couple of you and appreciate your responses. Thank you in advance.....Hotdog

Problem areas in red.

[divemedic]

Also, I would like to point out that this offer is a violation of the law:

A debt collector may not use unfair or unconscionable means to collect or attempt to collect any debt. Without limiting the general application of the foregoing, the following conduct is a violation of this section:

(1) The collection of any amount (including any interest, fee, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law.

(2) The acceptance by a debt collector from any person of a check or other payment instrument postdated by more than five days unless such person is notified in writing of the debt collector's intent to deposit such check or instrument not more than ten nor less than three business days prior to such deposit.

(3) The solicitation by a debt collector of any postdated check or other postdated payment instrument for the purpose of threatening or instituting criminal prosecution.

(4) Depositing or threatening to deposit any postdated check or other postdated payment instrument prior to the date on such check or instrument.

[Amerikaner83]

bad juju above......check by phone? HAHAHA might as well give the bastards your bank account