LVNV, CA, Advice Needed

[jakery1]

Ok, I need some advice, but first the story. I was contacted by LERS about a debt that I had with Discover, which had been charged off and sold to LVNV. I didn't do anything to dispute the debt ($5265.35) and on March 14 agreed to the following terms: 1 payment of $1,000 followed by 5 payments of $27.50. There is a section that says Settlement Amount: $0.00. In the letter is says that LERS will accept $0.00 as a full and final payment and then it lists terms that I mentioned. The letter goes on to say

"Once the settlement amount has been received, and the funds have cleared for payment, we will then notify our client that the account has been settled in full and that your credit bureau should be updated accordingly. You will be then released of any further liability to LVNV and its agents in reference to this account."

It also says: "This agreement is effect until the last payment date listed above and is void if the terms of this agreement are not met."

I met the terms of the agreement and made all my payments on time. Does this mean that I am released from any further liability for this debt? I am confused because settlement amount says $0.00, what does that mean?

LERS kept telling me that there were additional fees being added to the debt each month and were unable to tell me what they were for so I decided to DV LVNV on October 10 and received my signed green card back but no response from LVNV. In the mean time Brachfeld & Associates contacted my about this debt from LVNV on October 29 (they have yet to send me written notice and I have asked them several times, they say they have sent it). I sent Brachfeld & Associates a DV via fax and via USPS Certified on November 13 while at the same time asking Transunion to verify the debt with LVNV.

I guess my main question is: what are my next steps in how to handle LVNV? Am I still liable for this debt?

[legal_loansharking]

If that was your settlement and you have it in writing and it was paid according to your agreement in writing, you owe nothing. It was settled for less than the balance owed.

You will probably have to send B&A and LVNV copies of the settlement agreement.

With the creidt bureaus, send them copies of the agreement and tell them to modify the balance according to the letter 0.

[jakery1]

I didn't agree to any type of settlement but in the letter it says Settlement Amount $0.00, I guess I am confused by the letter.

[legal_loansharking]

Ok, I need some advice, but first the story. I was contacted by LERS about a debt that I had with Discover, which had been charged off and sold to LVNV. I didn't do anything to dispute the debt ($5265.35) and on March 14 agreed to the following terms: 1 payment of $1,000 followed by 5 payments of $27.50.

In your post it says you agreed to pay. Wasnt that some kind of settlement agreement ? Did you pay? If you just gave them $$ with no agreement they can come after you for the balance.