Re: Settlement letter

Posted by Why Chat (209.240.222.130) on July 29, 2002 at 18:00:15:

In Reply to: Settlement letter posted by K on July 29, 2002 at 17:19:54:

My best guess is that instead of actually writing off the unpaid amount and sending you a 1099C right away, they are going to turn it over to a sub-prime affiliate to consolidate with a new line of credit. If you don't bite on that, then they can either send you your 1099 or sell the unpaid balance to a ca. They will be fulfilling their agreement by reporting as agreed, but that doesn't prevent them from selling te balance to a ca for further collection (and reporting)

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