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Re: Fair settlement????
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Posted by Why Chat on January 15, 2002 at 09:56:47:
In Reply to: Fair settlement???? posted by matt on January 14, 2002 at 18:03:34:
If you are within the SOL (6 years from default/past due) then you need to know if the collection agency has been assigned the debt, or has purchased it.If you wish to "settle" wait until an offer IN WRITING is received,and make sure they are authorized to do so. DO NOT make any offer to them, as the way the system is set up they will immediately refuse and take whatever action they can to collect the full amount + interest,late fees and legal expenses.If you are beyond the 6 year SOL do not pay anybody anything, as it will prevent your credit record from being cleared,(7 years) If they can file against you they will.
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