sasjp

VIKING - To DV or to not DV?

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So - I have an outstanding debt in the amount of almost 7k, originally with Citi Cards.  It's bounced around from one CA to another, I just send a DV and they leave me alone.  Anyway, Citi Cards is still the OC on the account.  Viking sends me a letter and then calls me.  I speak to rep and tell her I'm not working, blah blah blah.  She offers an arrangement of $50 per month for a year, at which time I might be able to come up with a settlement offer....  Question, do I just take the $50 bucks a month to buy me sometime (I probably can do something close to 40% in a year), OR do I just DV them like all the others and hope they leave me alone?

 

I just don't want to DV them, them send me validation and then suddenly be unwilling to negotiate and hit me with a warrant in debt.

 

Thoughts?

 

Thanks!!

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Send the DV. If they do answer the DV, that does not mean they can win in court. DV is very easy to comply with which makes it even more interesting that JDBs/CAs do not comply more often.

In other words, you cannot lose if you DV.

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Maybe.  But, on the other hand, at this point, what proof do you have that they just didn't pick your name out of dumpster somewhere and decided to see if they could scam you out off some money.

This is what I am trying to get at, before you pay anyone make them prove they actually own a debt and the debt is actually legit.

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I assume a warrant in debt is a what they call a judgement in VA. In order to get one, they first have to sue you and win. What is needed to answer a DV is no where near what is needed as proof in court. Hence, they can try to get a Warrant in Debt but considering you are not working right now, you have the time to give them the fight of their life.

Hence, send the DV and worry about what they will do next when the do it. Besides, they cannot use anything you say in negotiations against you.

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All great advice.  Just as a "kudos" to this forum.  Five years ago I used information from this board to take my credit score from the low 500s to the low 700s in a mere 4 mos.  Two years ago I suffered a brain tumor and am in the final stages of recovery prior to returning to work.  Thanks for all the great advice - I'm slowly getting back on the right track!

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I know others here have already said it, but definitely do not pay them a cent. Some of these will even send you a letter asking you to only pay 5.00 or 10.00. The only reason they do this is to reset the SOL and it buys them extra time to come after you. Virginia has one of the shortest SOLs of any state, which is only three years. This is a huge advantage for you.

 

Don't worry about making them mad. All they care about is getting your money and many will do anything they can to accomplish this. They may still sue you, but they may do this no matter what you do. 

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I know others here have already said it, but definitely do not pay them a cent. Some of these will even send you a letter asking you to only pay 5.00 or 10.00. The only reason they do this is to reset the SOL and it buys them extra time to come after you. Virginia has one of the shortest SOLs of any state, which is only three years. This is a huge advantage for you.

Definitely avoid a payment plan.  

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CAs are amoral business entities. They do not get pissed in the traditional sense. They have no empathy that I have ever experienced.

 

Every non-OC get's DV'd in my world. YMMV.

 

Perhaps there are posts here where someone had a good result with a payment plan to a CA, IDK. It sounds like a very bad idea from where I sit. I suppose if I were a CA and thinking that I might need to sue a person then it might be a good plan for me to set up a payment schedule that extends the SOL to get a few free dollars out of my mark before I sued them for the whole banana.

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So I sent the DV letter and they responded at day 28 with a HUGE manila envelope with monthly statements dating back several years - many, many pages of statements.  What's my next move?  I don't think that's validation is it?  What letter do I send now?

 

Thanks!!

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This is a generic article, but with a little research you might find some more specific Citi articles. Some of the larger banks had to temporarily stop selling accounts to debt buyers because they had so many accounting type issues. This may be why they are just using collection agencies instead. 

 

http://dealbook.nytimes.com/2012/08/12/problems-riddle-moves-to-collect-credit-card-debt/

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So I sent the DV letter and they responded at day 28 with a HUGE manila envelope with monthly statements dating back several years - many, many pages of statements.  What's my next move?  I don't think that's validation is it?  What letter do I send now?

 

Thanks!!

 

Does the documentation you received inform you that the amount being demanded is what the creditor is claiming is owed. A stack of statements from several years back hardly seems to convey that information, does it?

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