Settlement offer
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Posted by Lee
(12.213.86.162) on February 08, 2003 at 16:22:33:
CA telephoned me this week regarding account. Can't understand how they got unlisted tel number unless other creditors (with accounts in good standing) share info. In 01/98 was 120 days late, last payment 3/98 was a bit over a monthly payment. The CA said was charged off 5/98 and offered a settlement, but they were reluctant to communicate via US Mail. Is there any reason why I should pay anything?
1)The 7 year drop off from CR is in 2005. If I pay, a derog account stays on until 2010.
2)The Calif SOL is 4 years. I presume that expired 3/02. The CA had an old PO Box (closed 1998) that I used for other creditors, but not for this account. I have not lived under an assumed name and have been registered to vote under the actual physical addresses in this same county since 1/94, so I haven't been hiding out. Is the proper course of action:
Validation letter & "do not call" letter, followed about 30 days later by refusal to pay with reference to unenforceable debt? Am I still vulnerable to a lawsuit if I tell them I have no intent to pay?
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