CAMCO collection Letter- 1992 Debt
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Posted by mary in california
(206.55.144.154) on October 01, 2002 at 18:19:32:
Received a letter from CAMCO offering a settlement for about 10% of an old, old Discover account. The amount of the original debt is way more than I remember. By the time I received the letter, I had less than a day to respond. The time limit was 6 days from the date of the letter. Here's what the letter said.
Creditor: Discover
Current Balance: xxxx
Settlement Offer: xxx
Payments: 0.00
Total Due: xxx We at Camco have decided to extend a most generous offer of settlement until xx/xx/02. At that time, unless one of the options suggested below is accepted, we will evaluate your credit history and present financial circumstance, and then proceed with an appropriate collection program in accordance with state and federal law. We believe that you have an important decision to make at this time. The wrong choice could be more costly to you in the future since you ultimately will be responsible for the full amount due on this account. Kindly check one of the options suggested below and return ____ I wish to take advantage of this offer and I enclose the settlement amount of $____. ____ I cannot take advantage of your offer but enclose a first installment of $_____, If acceptable, I will pay $______ each month on the ____day of each month.
I was wondering if I checked the first box, but offered them way less than the settlement offer, wrote account # xxxx,paid in full on the check, and they cashed the check, would this get rid of the thing. It sounds like from what I've read in other posts re: them, it might be worth some money, just to get rid of them? Any help on this? Thanks.
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