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Hi Folks, I need advice, please.
I am in MA, JDB Midland, OC Chase, 12k last pay oct  2009 not yet on SOL, ARB with JAMS is available from previous years. Weird activity in my CR, they seem to have added almost 30 % of fees, but I am still investigating. Anyway, they sent me a letter offering me up to 70% off the bill *pre-approved with a lump sum or 50% 12 payments. 

 

I sent the letter disputing the alleged debt. Kept it simple.

 

I dispute this alleged debt in its entirety. Please validate.

I elect arbitration if the contract that underlies this alleged debt contains that option.

It is inconvenient for me to receive telephone calls at any time or to any number. 

You may contact me by mail.

they reply with the following:

2 copies of 1 page  of a statement circa 2009 from chase for 9K ( their settlement offer is 70% lump sum of  11,900.00 and other higher % for monthly payments)

The following letter:

Enclosed are the documents you requested regarding the dispute of the above reference account:

We understand  that you are disputing the accuracy of our records concerning the above-referenced account,  after reviewing notes from previous creditor, We unable to determine the nature of your dispute, and consequently deny that our records are inaccurate.

if you still believe the account information is inaccurate. please provide an explanation of why you believe it is inaccurate along with any documentation you have supporting this explanation. We will be happy to investigate. 

in the mean time,  as requested by you, we will no longer be contacting you regarding this account by phone or mail unless it is to further respond this dispute by you. please feel free to contact us at 1800 xxx .


What should I do next?

Any help is fully appreciated.
Thanks

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Be clearer about the "70%" - do they want 70% of the total bill or 30%? If they are willing to take 30% they may not be sure of their evidence so JAMS may work. Others have been followed to arb for that amount and made the bill bigger. 

 

Knowing what I know now, I'd negotiate down from the 30% and run, but your JAMS play may work - perhaps a combination?

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Hi Folks, I need advice, please.

I am in MA, JDB Midland, OC Chase, 12k last pay oct  2009 not yet on SOL, ARB with JAMS is available from previous years. Weird activity in my CR, they seem to have added almost 30 % of fees, but I am still investigating. Anyway, they sent me a letter offering me up to 70% off the bill *pre-approved with a lump sum or 50% 12 payments. 

 

I sent the letter disputing the alleged debt. Kept it simple.

 

I dispute this alleged debt in its entirety. Please validate.

I elect arbitration if the contract that underlies this alleged debt contains that option.

It is inconvenient for me to receive telephone calls at any time or to any number. 

You may contact me by mail.

they reply with the following:

2 copies of 1 page  of a statement circa 2009 from chase for 9K ( their settlement offer is 70% lump sum of  11,900.00 and other higher % for monthly payments)

The following letter:

Enclosed are the documents you requested regarding the dispute of the above reference account:

We understand  that you are disputing the accuracy of our records concerning the above-referenced account,  after reviewing notes from previous creditor, We unable to determine the nature of your dispute, and consequently deny that our records are inaccurate.

if you still believe the account information is inaccurate. please provide an explanation of why you believe it is inaccurate along with any documentation you have supporting this explanation. We will be happy to investigate. 

in the mean time,  as requested by you, we will no longer be contacting you regarding this account by phone or mail unless it is to further respond this dispute by you. please feel free to contact us at 1800 xxx .

What should I do next?

Any help is fully appreciated.

Thanks

 

1.  was there anything else in the letter that would define 'pre-approved', such as an explanation farther down with the * referencing it?  The thing that would concern me is that it seems too much like the CC offers we get in the mail stating we've been pre-approved for $1500.00, then you submit the application only to realize that you are either denied, or approved for something like $300.00.   It would concern me that they would come back and say 'well yeah, WE pre-approved you, but the OC (or debt owner) wouldn't after we gave them your payment".  Then you would still be liable for the remainder. It happens.

 

2.  What documents did they provide you with? Do you feel that those documents validate that you owe this?  In other words, if it went to court, do you feel a judge would rule in their favor based on these documents?

 

I don't have to tell you that you're playing with fire when it comes to such a large amount of debt, that is still within the SOL.

 

Good luck!

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You tried to give them a partial C&D which there is no such thing. They then opted to go with a full C&D, it's possible if you don't settle now that they will sue you. I've tried to tell people that you can not completely stop the phone calls. You can stop them from calling you at work, and you can limit them to a certain time between 8-9. But not 24/7. Because doing so, you invite the lawsuit should they decide.

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Hi Guys, I am not concerned about the calls. I know this OC has arbitration with JAMS in its CC agreement. I know their next step is a law suite because have one already from them.  My question is, should I send a follow up asking for a more detailed validation? Should I send a settlement offer?

 

Thanks

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If this were me, I would go with arb.  I can't remember off hand, does the Citi agreement say they will pay for arb?  If not, $250 is still far cheaper than $4k.  I would go ahead and file with JAMS now.  There is a very high probability that they will completely ignore all arbitration requests and JAMS will close the case.  If this happens and then Midland files suit anyway in court, not only will you have an FDCPA violation, but a breach of contract claim as well.  And you will have an affirmative defense of improper venue.

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