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I got a letter from a law office concerning a "lump sum settlement offer", what now?


jmoe2008
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I got a letter from the Law offices of Mitchell N. Kay over a charged off Orchard bank CC. It looks like the JDB is FFPM Carmel Holdings. They say the original balance is $996.62 but the card had a limit of $500. They are offering me a lump sump offer of $5xx.xx or 6 monthly payments of around $75 and then they will call to discuss what we can do with the remaining balance. Yeah Right! This is an account that was opened in about 03' but I quit paying on it in about 05'. The letter I got was mailed out to me about 5 months ago. I figure I am about to get sued and was wondering what I should do? Should I send a dispute letter, or a DV letter. They have quit calling me all together but I would like to get this thing off my credit report. Settling is not an option at this point. Any advise would be great. Thank You

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