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Re: CA settlement down 300%


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Posted by LadynRed (199.91.33.254) on January 20, 2003 at 15:38:34:

In Reply to: Re: CA settlement down 300% posted by patti on January 20, 2003 at 15:04:22:

To add to Patti's questions... when was the last itme you paid the original creditor ? What state are you in ?

As for RMA (scumbags that they are !) the offer is real enough, but I would NOT bite on that hook unless you get an agreement IN WRITING with signatures for the following (if you're within the SOL):

- deletion of any and all entries RMA has placed on your credit report
- agreement that they debt is, in fact, paid in full - you want a letter of satisfaction after you pay it
- a 'paid as agreed' or at least 'paid' on the original account on your CR - anything else is negative and will NOT help your credit.
- you can't force them to say they won't resell the remaining $6000 owed to another CA, but you can ask for the OC to issue a 1099-C. Anything settled for $600 or more of 'cancelled debt' is taxable and you'd have to claim in on your taxes with a 1099-C.


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