HELP NEEDED ON SETTLEMENT PLEASE - LadynRed.. WhyChat.
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Posted by In SC (63.237.22.2) on February 24, 2003 at 08:58:34:
I received a letter from a CA offering to settle my Citi Card with me for 70% of the balance ($2694). This was charged off in Dec 02. Should I respond to the letter? Offer 40% or something and request it be changed to paid on my credit report? Should I do it immediately or wait a while and see if they offer a lower amount?? How do I word the letter? Just curious if it would be worth offering to settle?? Don't know if they sue or not, but would really like to have it cleared up. It did have the statement about the 1099-C for any amount discharged over $600. Also, if an account shows "purchased by another lender" on your report can the OC come back and sue you?? This refers to MBNA who has sold my account to NCO Financial. I am in SC and realize my wages can't be garnished but can a lien be placed on my home??
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