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Ready to Settle- need help
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Posted by About to be Broke
(12.92.215.154) on September 25, 2002 at 00:20:43:
I was hoping someone could give me a little help with settling a debt, but first I have a question:
Is a debt by a credit card that has been turned over to a CA to collect considered a charge-off? (The debt wasn't sold, the company is using this CA.) Okay, so what do I do? I've read that in Georgia (where I live) that if you write "paid in full" on the check and they deposit it, they can't legally come after you later for the rest-- true? If so, where on the check do I write this? I've also read that you shouldn't send a personal check, but rather a cashier's check or money order. Is this a good idea, and if so, can I do it at my own bank or should I use an outside institution?
Also, can I get hit with taxes for the amount that went unpaid in the settlement? Lastly, what is the best way to negotiate having negative marks removed from credit report?
Sorry this is so long, but any help would be very appreciated!
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