Re: Interest after charge off?? please help

Posted by Why Chat (209.240.198.61) on October 19, 2002 at 21:39:34:

In Reply to: Re: Interest after charge off?? please help posted by Anna in Chicago on October 19, 2002 at 20:49:40:

I do not believe any agreement you made to "rewrite" the account has any weight as Ill. has a fairly clear statute about waiving your rights.

The SOL (statute of limitations) in Ill. is 5 years from your first delinquency (first time late on the orginal account)

However, because of the nature of the particular bottom feeder CA that is bothering you, I doubt this is a very collectible account.

I would strongly urge you to NOT try to negotiate with the CA, there is NO safe way of paying them anything that will get you any beneficial results.

If you offer to pay them a portion of what they claim, they will accept it and turn the balance over to another collection agency.

If they are really harrassing you,you can send them a cease and desist, however it might trigger a lawsuit.

Take a look at your Experian credit report,when does it say this account will drop off?