JRango916 Posted January 18, 2008 Report Share Posted January 18, 2008 NEWBIE~ I got in the mail the other day from a CA a offer to settle my $775 debt for an old Cap 1 account over three payments totalling $450. I think it's a great deal spread over 90 days. Should I just take the letters word or call them and have them send something else to certify/finalize the letter? Any suggestions would be helpful. (Northland Group)It's bonus time and decided this is the year to get my life back of track.Oh wait.. I got another offer about another account for (Circuit City) sent to an CA they will settle for $700 on a $2800 debt. I am aware of the tax implications and that's fine as I expect enough write offs to counter that. Should I take this offer as well?Thanks for any help/info. Link to comment Share on other sites More sharing options...
brokeinok Posted January 18, 2008 Report Share Posted January 18, 2008 If your attempt is to clean up your credit, then an account marked "paid collection" isn't any better than one marked collection. You need to determine how they are going to report to the CRA's if that is a concern. Read the pages on debt settlement and it explains the different ways accounts can be reported and which is the best to shoot for. Link to comment Share on other sites More sharing options...
JRango916 Posted January 18, 2008 Author Report Share Posted January 18, 2008 They will report paid as agreed per the letter. Is that any good, bad, or different? Link to comment Share on other sites More sharing options...
Moneedshelp Posted January 18, 2008 Report Share Posted January 18, 2008 Is the CA listing the account on your reports? I would try for a PFD, if possible. Link to comment Share on other sites More sharing options...
astiman Posted January 18, 2008 Report Share Posted January 18, 2008 Northland is simply contracted as an agent for Crap 1.I would contact Crap 1 directly with an offer. If Northland doesn't like it, tough. Only Crap 1 is reporting, right? Link to comment Share on other sites More sharing options...
JRango916 Posted January 19, 2008 Author Report Share Posted January 19, 2008 Is the CA listing the account on your reports? I would try for a PFD, if possible.The Northland (CA #1) one is not reporting but my CA for the circuit city one is. Link to comment Share on other sites More sharing options...
JRango916 Posted January 19, 2008 Author Report Share Posted January 19, 2008 Northland is simply contracted as an agent for Crap 1.I would contact Crap 1 directly with an offer. If Northland doesn't like it, tough. Only Crap 1 is reporting, right?Then I will contact Crap 1 since it is reporting as charged off? Is that wise or should I deal with Northland? Link to comment Share on other sites More sharing options...
brokeinok Posted January 19, 2008 Report Share Posted January 19, 2008 Call Cap One and ask for the recovery department... if they don't call it that, then try legal. Link to comment Share on other sites More sharing options...
JRango916 Posted January 19, 2008 Author Report Share Posted January 19, 2008 Call Cap One and ask for the recovery department... if they don't call it that, then try legal.Will do.. Thank you.. Any suggestions on the second offer for Circuit City? Link to comment Share on other sites More sharing options...
brokeinok Posted January 19, 2008 Report Share Posted January 19, 2008 Will do.. Thank you.. Any suggestions on the second offer for Circuit City?You are trying to clean up your credit so how they will report to the CB's is a major concern. Try for a pay for delete of the tradeline off your reports. Link to comment Share on other sites More sharing options...
JRango916 Posted January 19, 2008 Author Report Share Posted January 19, 2008 You are trying to clean up your credit so how they will report to the CB's is a major concern. Try for a pay for delete of the tradeline off your reports.Thank you for the wise advice. It is greatly appreciated. Link to comment Share on other sites More sharing options...
JRango916 Posted January 19, 2008 Author Report Share Posted January 19, 2008 Hmmm, if I contact Crap 1 and settle should I expect them to contact Northland to stop any activity towards me? Link to comment Share on other sites More sharing options...
brokeinok Posted January 19, 2008 Report Share Posted January 19, 2008 One would hope that they will recall it from them, once they do, you can dispute with the CRA's if it doesn't drop on it's own. Link to comment Share on other sites More sharing options...
hopelesscred Posted January 26, 2008 Report Share Posted January 26, 2008 Crap one does not sell their debts, so Northland is simply an assignee. OP did I read u right?...Northland is offering to list the act as PAID AS AGREED? did u get this in writing?...if so inquiring minds want to know!!if true, Crap one must be going soft.. Link to comment Share on other sites More sharing options...
Amerikaner83 Posted January 26, 2008 Report Share Posted January 26, 2008 NOrthland probably has their own TL...pays as agreed on a Collection TL is worthless. Link to comment Share on other sites More sharing options...
JRango916 Posted January 27, 2008 Author Report Share Posted January 27, 2008 Crap one does not sell their debts, so Northland is simply an assignee. OP did I read u right?...Northland is offering to list the act as PAID AS AGREED? did u get this in writing?...if so inquiring minds want to know!!if true, Crap one must be going soft..On the offer of 3 monthly payments from them, yes.: Link to comment Share on other sites More sharing options...
hopelesscred Posted January 27, 2008 Report Share Posted January 27, 2008 As Amerikaner states....If Nortland has their own TL, only accept a PFD. Link to comment Share on other sites More sharing options...
JRango916 Posted January 28, 2008 Author Report Share Posted January 28, 2008 As Amerikaner states....If Nortland has their own TL, only accept a PFD.That's what I will aim for:twisted: Link to comment Share on other sites More sharing options...
hmoney Posted February 1, 2008 Report Share Posted February 1, 2008 deleted Link to comment Share on other sites More sharing options...
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