dinarguy Posted January 25, 2008 Report Share Posted January 25, 2008 Hi all! I have a credit card debt of $865, where the ORIGINAL balance was $450. They kept tacking on late fees galore when I had no idea this was happening (I moved away from residence, and I was not getting any statements because my sister was throwing them out)Anyways, the collection agency sent me a letter stating that my account is 150-something days past due and they want to discuss options to work with me. I called in and spoke with a supervisor. I told her I would be interested in settling, if the negative listings were removed from my credit. She said that "thats impossible". Is this true? I was on a website where it said to tell the collection agency to remove the negative listings on the account when settling.She offered a $200 deduction on my account, if I make the account current, which is $244. If I do this, my balance left on the account will be $421, just under the original balance of the debt, unfortunately.Any advice would be great! I am trying to get this over with, but I am new at the credit-knowledge. Thank you! Link to comment Share on other sites More sharing options...
nightwind Posted January 25, 2008 Report Share Posted January 25, 2008 Check your state laws for interest they are allowed to charge. Some states have limits to interest and penalty they are allowed to charge. Send them a dv letter to find out how they calculated what you owe. Doesn't sound like it's a good deal to me, but i'm fairly new as well. Link to comment Share on other sites More sharing options...
Flyingifr Posted January 25, 2008 Report Share Posted January 25, 2008 You offered a Pay-For-Delete and the Collector said "that's Impossible"? I hope you have that on tape, because that is a FDCPA violation. A PFD is not impossible - that is a false and misleading statement. They simply choose not to do it. That doesn't make it impossible - just difficult.Want to see how "possible" a PFD is? Document the FDCPA violation and then sue. They will pay YOU and they will delete the TL as part of the settlement of the suit. Link to comment Share on other sites More sharing options...
willingtocope Posted January 25, 2008 Report Share Posted January 25, 2008 Hey there...welcome...And first, stop talking to the CA on the phone. They can't and won't help you.Call the original creditor. Tell them that you weren't getting their bills...and forgot all about it...and OMG, you guys were so good to me...how can I make this right?...can I just send you a check?...and, oh, by the way, can you call off the collection agency?Talking to OCs on the phone is generally okay. Talking to CAs is dangerous (always deall with CAs in writing). Link to comment Share on other sites More sharing options...
dinarguy Posted January 25, 2008 Author Report Share Posted January 25, 2008 Ok, Im an idiot...I just realized the account is NOT in collections yet...I thought it was because the name of the the creditor is Citicorp, but my account is a jeweler account, so I assumed it was in collections.Im 150 days past due...should I let it go to collections? Or should I do what options were in my original post? Thanks! Link to comment Share on other sites More sharing options...
NYMatt Posted January 25, 2008 Report Share Posted January 25, 2008 DON"T let it go to collections ! Once it gets there you may not be able to get it back, A lot of time junk debt buyers buy delinquent cc accounts for pennies on the dollar and expect you to pay them the full amount plus interest, If you don't they may sue and hope you ignore it resulting in a default judgment.Once they win a default judgment they can proceed with liens , levys , garnishment ,etc. , according to your State laws. Link to comment Share on other sites More sharing options...
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