NellInfo Posted January 23, 2008 Report Share Posted January 23, 2008 I have a credit card (Providan-payments are 6 months late) debt that was sold to this collector called SST now sold to Apex Financial Managment. They called me asking me to pay or else they were going to sue me. I told them that I couldnt come up with the total $2500 that they wanted me to pay and they offered me with a settlement for $1900. They will give me only a two month time frame to pay that which is very unrealistic for my current financial situation. They are giving me only 6 months to pay $2500. I honeslty cant come up with that money right now. Is there anything that I can do? I havent sent them the letter to confirm this debt as yet. That is one option that I read on this website. Do anyone have any suggestions or know of this company? Link to comment Share on other sites More sharing options...
lovebug5 Posted January 23, 2008 Report Share Posted January 23, 2008 I'm assuming that your debt is within SOL, correct? With an amount like that, they're more likely to take action on the debt. If you just received a dunning letter from the second CA, I'd go through the DV process for the heck of it since they're actively trying to collect. Link to comment Share on other sites More sharing options...
NellInfo Posted January 23, 2008 Author Report Share Posted January 23, 2008 Thanks for your help. Im not too credit savy with the abbreviated terms but Im assuming you indicated to go through the debt valadation process? They actually called me and told me that they can do a 12 month payment plan for the full amount. Should I accept that or should I wait until I do the debt valadation? Link to comment Share on other sites More sharing options...
lovebug5 Posted January 23, 2008 Report Share Posted January 23, 2008 Depends on your financial situation. If you have the financial means to responsibly pay off your debt that you know is yours, go for it...Just make sure that you have some type of agreement in writing that will protect you in the future, protect your credit reports, etc. Link to comment Share on other sites More sharing options...
hiblues Posted January 24, 2008 Report Share Posted January 24, 2008 in Texas your wages cannot be garnished... just FYIdo you own a house they can attach a lien against? ( I think they can do that in Texas?)you may want to make them aware that you are aware of the law.also, not sure how but you may want to check your court house files to see if they really dosue in your area or not-- anyone know how to do that? please chime in. Link to comment Share on other sites More sharing options...
TTigggers Posted January 24, 2008 Report Share Posted January 24, 2008 Thanks for your help. Im not too credit savy with the abbreviated terms but Im assuming you indicated to go through the debt valadation process? They actually called me and told me that they can do a 12 month payment plan for the full amount. Should I accept that or should I wait until I do the debt valadation?This should help with the abbreviations.http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=247970 Link to comment Share on other sites More sharing options...
NellInfo Posted January 28, 2008 Author Report Share Posted January 28, 2008 Thanks for the feeback. I sent them a certified DV letter. How long should I wait for feedback? If more than a couple weeks goes by should I send them an offer letter instead of taking the chance of them sending me docs to sue me? One thing is that it is good to know that they cannot garnish my wages because they sent a letter to my employment for verification and right on top it indicated to include my salary. Do you have any advice on how should I handle this? Link to comment Share on other sites More sharing options...
NellInfo Posted January 28, 2008 Author Report Share Posted January 28, 2008 Thanks for the feeback. I sent them a certified DV letter. How long should I wait for feedback? If more than a couple weeks goes by should I send them an offer letter instead of taking the chance of them sending me docs to sue me? One thing is that it is good to know that they cannot garnish my wages because they sent a letter to my employment for verification and right on top it indicated to include my salary. Do you have any advice on how should I handle them calling my employment and sending employment verification docs? Link to comment Share on other sites More sharing options...
wahoo238 Posted January 28, 2008 Report Share Posted January 28, 2008 Thanks for the feeback. I sent them a certified DV letter. How long should I wait for feedback? If more than a couple weeks goes by should I send them an offer letter instead of taking the chance of them sending me docs to sue me? One thing is that it is good to know that they cannot garnish my wages because they sent a letter to my employment for verification and right on top it indicated to include my salary. Do you have any advice on how should I handle them calling my employment and sending employment verification docs?Let the DV process take its course, I would wait until you recieve the info you requested from them, an offer to settle when they may not be able to even validate is a bad idea. As for your employer situation I would hope they would not release that information to them I would certainly ask they not. The phone calls at work are easy, just send them (CMRRR) a letter that states your employer does not allow you to take these calls. The calls should have stopped when they recieve your DV but this is a good back up should they validate. Link to comment Share on other sites More sharing options...
NellInfo Posted January 28, 2008 Author Report Share Posted January 28, 2008 Thank you for the information. I will wait until I hear from them and follow up with the letter for not recieving the phone calls. If they come back with the correct information and they are legitimate then at that point I hope they can be realistic with me in setting up an affordable payment plan. At that point I will make sure any arrangement that I do with them are in writing and I will only send money orders (learned from this site). Thanks for your help Link to comment Share on other sites More sharing options...
NellInfo Posted March 5, 2008 Author Report Share Posted March 5, 2008 I have a $4000 revolving credit account in which I recently learned it was charged off while trying to clean up my credit. I had some financial hard times in which I couldn’t continue making payment on this revolving account and in turn the account went to a collections agency. They sent me a letter concerning the payment and I did the DV process about two months ago which they never responded. I received a call from a lawyer’s office two days ago indicating they are going to sue if I don’t pay in full or else they will send me to court. I am at a point where I can start paying monthly installments to get this down. Can you negotiate a payment plan with the lawyer’s office? And can I get that charge off from my credit report? Can anyone advise on how I should handle this? Link to comment Share on other sites More sharing options...
NYMatt Posted March 5, 2008 Report Share Posted March 5, 2008 Don't do anything unless its in writing and even then they can still go ahead and sue you anyways. Link to comment Share on other sites More sharing options...
zfire Posted March 5, 2008 Report Share Posted March 5, 2008 The trick in TX is to make sure one's home is "homesteaded." Link to comment Share on other sites More sharing options...
Fizzle1979 Posted March 5, 2008 Report Share Posted March 5, 2008 I have a $4000 revolving credit account in which I recently learned it was charged off while trying to clean up my credit. I had some financial hard times in which I couldn’t continue making payment on this revolving account and in turn the account went to a collections agency. They sent me a letter concerning the payment and I did the DV process about two months ago which they never responded. I received a call from a lawyer’s office two days ago indicating they are going to sue if I don’t pay in full or else they will send me to court. I am at a point where I can start paying monthly installments to get this down. Can you negotiate a payment plan with the lawyer’s office? And can I get that charge off from my credit report? Can anyone advise on how I should handle this?I know you are probably really concerned about being sued, no one wants to be in that situation. But from hear on out, DO NOT SPEAK TO ANYONE ON THE PHONE. ALL communication must be in writing. Talking to them on the phone will only panic you into making a decision under pressure, which might not be the best decision for you. Start reading the Texas Finance Code, see my signature. #1 Who was the name of the company you DV'ed and their address? #2 Who is the lawyer and his address? #3 The person that called you, were they a lawyer, or an employee of a lawyer? Link to comment Share on other sites More sharing options...
NellInfo Posted March 21, 2008 Author Report Share Posted March 21, 2008 I just recieved a settlement letter back from Apex Finacial offering me a settlement of 80% of the debt. I sent them a DV letter almost a month ago but the letter is just a regular settlement letter. Is this acceptable for the DV process? On the side of the letter it states creditor Providan but it doesnt say when I opened the account, the actual amount owed, etc. None of the questions answered from the DV letter. Now thinking back, I cant even remember when I opened the account and if Providian brought it from someone first. I just want to make sure that Its vaid and the amount they are stating is corrent before I start making any settlement offers. What should I do now? Link to comment Share on other sites More sharing options...
NASCAR_Devil Posted March 21, 2008 Report Share Posted March 21, 2008 I just recieved a settlement letter back from Apex Finacial offering me a settlement of 80% of the debt. I sent them a DV letter almost a month ago but the letter is just a regular settlement letter. Is this acceptable for the DV process? On the side of the letter it states creditor Providan but it doesnt say when I opened the account, the actual amount owed, etc. None of the questions answered from the DV letter. Now thinking back, I cant even remember when I opened the account and if Providian brought it from someone first. I just want to make sure that Its vaid and the amount they are stating is corrent before I start making any settlement offers. What should I do now?That's not validation...it's continued collection efforts. DV again citing original DV. Inform them they are violating FDCPA and the TFC by continuing collection attempts on a disputed unvalidated debt. Inform them that you will file a claim against their surety bond:Principal Name: Apex Financial Management LLC# 1Address:1120 Lake Cook RoadBuffalo Grove, IL 60089 File Number:20040064 Status:Active Date Filed:4/26/2004 Cancellation Date:Phone:Bonding Company:Farmington Casualty Company Bond No:00104156238 I'd also file complaints with the IL and TX AG, the FTC and the ACA (if they're members). Throw in the BBB for good measure. Link to comment Share on other sites More sharing options...
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