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BigMike
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Hello, this is my first post and I've been learning quite a lot since joining this forum and want to say many thanks to everyone for sharing their stories.

I recently just settled a discover card from a ca for 30% of the total balance from the advice learned here! One down and 4 to go..

I've got two accounts that went to cavalry, one for over 5k in which they're trying to get over 10k for and another for a little over 6k, and they're trying to get just over 12k for.

These people are out of their minds to think I'll pay anything close to that. I'm looking for some advice to deal with these people. I will be contacting them shortly to start offering settlements with them.

What have others negotiated with cavalry? I plan to start at 10% to settle with a delete. It's past the SOL and is well over 3 years.

I understand some would say to leave it alone, however, I plan to buy a house in a year or two and don't need this backfiring at me.

Any advice would help. Thanks in advance to anyone who can share their experience, or offer a tip.

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Congrats on your success with Discover! Care to elaborate how you got them to agree to 30%? Thanks.

You are right to only settle for deletion, since they can't get a judgment against you for a past-SOL debt (provided you timely file an answer raising the SOL as an affirmative defense, etc.) Obviously, at no time during the negotiation should you mention your plans to buy a house in a couple years.

Is the debt now owned by a JDB, or is Cavalry simply assigned to collect it on behalf of the OC?

Edited by options
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Hi Options, The Discover card was also past the SOL and I clearly explained that to them among other laws protecting me. The first rep became so flustered with me and transferred me to another rep before reaching the manager.

I've been talking with Cavarly and they are willing to accept 20% on both accounts. However, they will not delete tradelines. Which pisses me the F off! I don't know what to do with these people other than leave it alone.

I might fax them a counter offer with a pay for delete. I'm kind of stuck on what to do.

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Yes they are. I spoke to the OC and they gave me their information and I also got my credit reports reflecting this. They offered a 20% settlement, however, I'm not paying over 10%. They won't even do a delete for me either. So I might not even pay them at all.

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Yes they are. I spoke to the OC and they gave me their information and I also got my credit reports reflecting this. They offered a 20% settlement, however, I'm not paying over 10%. They won't even do a delete for me either. So I might not even pay them at all.

The OC offered a 20% settlement? If they sold the account, they can't offer to settle.

If the OC's won't delete, I'm not sure getting Cavalry to delete would help your CR. You could look into it, but even if Cavalry deleted, the OC's entry would still be there.

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No, the CA offered the settlement. It's out of the OC's hands now.

It doesn't bother me to much if the OC stays on there. However, I'd rather not see any kind of collection agency's on my report.

I figure that with the OC being over three years old, the damage is done and my credit will soon improve, once I begin my credit repair and re-build.

What bothers me the most, is that once the collection agency updates the CRA's of my settlement, it will screw me even more with trying to re-build.

I do plan on disputing these reports later, if I find I'm not getting anywhere. I've got a tough road ahead of me.

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No, the CA offered the settlement. It's out of the OC's hands now.

It doesn't bother me to much if the OC stays on there. However, I'd rather not see any kind of collection agency's on my report.

I figure that with the OC being over three years old, the damage is done and my credit will soon improve, once I begin my credit repair and re-build.

What bothers me the most, is that once the collection agency updates the CRA's of my settlement, it will screw me even more with trying to re-build.

I do plan on disputing these reports later, if I find I'm not getting anywhere. I've got a tough road ahead of me.

In my opinion, I'd dispute with the CRAs first. You can first dispute an entry on CR directly with the furnisher, BUT that takes away your right to sue them for FCRA violations. In order to preserve that right, you have to dispute the entry with the CRAs first. The reason that in order to preserve your right to sue under the FCRA, the first notice a furnisher receives of a dispute must come from the CRAs.

Who knows? Cavalry could screw up on the their reporting, and you might have leverage on your side.

Edited by BV80
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Thanks BV80 : )

Do you suggest I dispute online, or send in a letter of dispute? Should I do the 1 - 2 punch from what I've read here? Thanks again.

I've always disputed online and saved the email notifications they sent me. If doing so by mail would make you feel more reassured, do it that way. Whatever you choose to do, you just want to make sure you have proof of the dispute and the results.

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