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Need help on making a decision, settlement issues
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Posted by mikala
(63.25.83.155) on July 29, 2002 at 07:05:24:
I currently live in Hawaii. The items I defaulted on happened when I lived in NEVADA. I had read that the sol time I use would be for the state I lived in at the time of the default. The following happened before I found this board and before I started to research what options were available to me.
I pulled my credit reports and found some items on them that were reportd from a CA. This particular CA has 5 accounts from different creditors. 4 of the items I wasn't to sure about but figured they had to be correct. I contacted them and told the collector who I was, he pulled up the info and asked what could he do for me. I proceded to tell him that I was wanting to make a settlement but before I could finish he stated that they would not be making any settlements for these accounts. Of course I couldn't pay the amount and he said to call them back when I had all the money and he hung up. He called five days later left a message, I called back a week later and told him who I was and that he had left a message to call him. He asked if I had raised the money yet(what a joke) of course not and told him not to call back, he simply said no I will be calling back and then hung up. I called back and spoke with his supervisor(much nicer) complained of course he told me by law they could still call and that I would have to notify them in writing to stop calling. Well okay, then told him that I wanted to settle the accounts and offered 60cents on the dollar and that I arrived at that amount because other CA were offering between 30 to 50 cents on the dollar. He said he would look into it and would get back to me. He didn't call back that week.
Then I started to search the internet and came across this board and read the different posts.The original amount for all accounts total about $500 they want almost 1000. Well Knowledge is Power. The SOL will expire for one of them in Oct. This is for a bank account that got overdrawn. Would this fall under the written agreement catagory? And for another the SOL has pasted. Not going into the others yet but what I want to know is now that I have this info about SOL can I still use it even though I had this conversation with the CA? (no agreement was made that I'd be sending in the money and I will not return their calls.)I will be sending in a C&D letter. I did inform them that I called because of info on my credit reports and not because of a letter. This was the first contact with them.
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