Re: HSBC Settlement Offer....Should I accept?

Posted by Why Chat (209.240.198.61) on December 08, 2002 at 09:33:19:

In Reply to: Re: HSBC Settlement Offer....Should I accept? posted by Frapster on December 08, 2002 at 00:55:48:

For the HSBC account,IF they ave made the offer IN WRITING, send them a counter-offer IN WRITING at 40%.If they return with another offer,or accept the 40% or stick with the 60%. THEN, you should make your decision. MAKE SURE they agree to completely write off the balance and issue you a 1099C for the unpaid amount as inome. This will prevent the balance being sold to a collection agency.

As to "Frapster".
Once an account has been charged off it is not in the interest of the OC to deal wth the debtor on a "settlement" basis.

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