kanakanaka Posted September 10, 2008 Report Share Posted September 10, 2008 just curious but if creditors start seeing that one is paying other creditors does that increase their chances of being sued by ones they're not paying as it show they have some money?? If within a year of SOL shouldn't one try to lay low as being out of SOL increases the chances of getting a better settlement?I ask this because crap one sent me a 40% off offer, rather midland did, and on the offer it states that after making the payment my credit report will be updated as paid in full??? I"m sure I"m missing some jargon that could screw me over on this but I"ll research it prior to payment via DV and such. I guess I can call Crap one and ask if they've assigned this debt to midland and if so do yo guys think I should pay it... Is a letter from a CA sufficient or should I write my own demands and have those agreed upon???thanks Link to comment Share on other sites More sharing options...
willingtocope Posted September 10, 2008 Report Share Posted September 10, 2008 Lots of questions buried in there...Yes, paying one creditor and not others will bring you to their attention. What action they might take is hard to predict.If the Crap 1 account has been sold (they seldom do) then their tradeline on your reports would say "sold to another lender" and the balance would be $0. Paying a CA for a "settlement" is almost never a good idea. They lie just for practice, and they cannot speak for the OC. If you've got money to work with...call your OC's now and see what you can work out. Put together a budget before hand. Figure out exactly how much you can afford. Don't agree to anything until you've talked to them all. Get it in writing.If you don't have enough money to pay them all...then your only real choice is to do nothing until the SOL passes...then see what happens. Link to comment Share on other sites More sharing options...
kanakanaka Posted September 10, 2008 Author Report Share Posted September 10, 2008 First off let me thank you for the response... been hard to get those latelyYou say: "Paying a CA for a "settlement" is almost never a good idea. They lie just for practice, and they cannot speak for the OC.If you've got money to work with...call your OC's now and see what you can work out. Put together a budget before hand. Figure out exactly how much you can afford. Don't agree to anything until you've talked to them all. Get it in writing."I called Crap One and they said they definitely sold that account to midland. that being said they were not in any position to make arrangements for payment. I have yet to see midland report it n my credit report and understand that paying them might give them a reason to report, but I really want to clean up my debt. Clearly DV'ing a debt that's not reported seems a bit useless. And I don't suppose there's anything I can do about a debt once it's charge-off ( in regards to getting that off my CR) so what do you think the next best step would be?thanks again Link to comment Share on other sites More sharing options...
willingtocope Posted September 10, 2008 Report Share Posted September 10, 2008 If indeed Crap 1 sold the debt to midland, then they're a "junk debt buyer". I personally would never willingly pay a JDB anything, unless ordered to by a court.They paid pennies on the dollar for the right to hassle you. You never had a contract with them. They seldom have sufficient proof that they have the right person.If it were me, and midland sent me a letter claiming that I owed them something, I'd respond with a strongly worded "I never had a debt with you people, prove to me otherwise, or go away" type letter.But, that's just me.... Link to comment Share on other sites More sharing options...
kanakanaka Posted September 11, 2008 Author Report Share Posted September 11, 2008 thanks again for the response... I'll see to it that midland receives their letter... I"m scheduled for a pretrial/ mediation with an assignee of chase beginning of november and just bought the book"how to represent yourself in court by nolo press... let's see if the all the stuff i've learned in the forum gets me throuhg that one:) Link to comment Share on other sites More sharing options...
astiman Posted September 11, 2008 Report Share Posted September 11, 2008 Midland did not extend credit to you.They are a JDB.Why on earth would you pay THEM? Link to comment Share on other sites More sharing options...
kanakanaka Posted September 11, 2008 Author Report Share Posted September 11, 2008 when I've been dumb enough to get myself into debt in the first place, it shouldn't be that surprising that every now and again I'm gonna ask an even dumber question... but I will! just part of some debtor's nature I suppose... but I'm getting better and having this forum has really helped.. So many thanks to all of you who chime in every now and then... you're much appreciated...kanakanaka Link to comment Share on other sites More sharing options...
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