Re: ABOUT TO SETTLE

Posted by WHY CHAT (66.156.234.228) on March 28, 2003 at 08:26:17:

In Reply to: ABOUT TO SETTLE posted by NOVICE on March 28, 2003 at 00:04:42:

Was your repossession carried out with all full documentation and notices as required by Ill. motor vehicle finance act?

Did you get a complete accounting of the resale and prompt notice of the deficiency at the time of the resale?

Does your"settlement" agreement include deletion of any credit report derogatory information?
Does your "settlement" include a COMPLETE release of all claim and a WRITTEN agreement signed by an OFFICER of the collection agency to NOT resell the unpaid balance to another collection agency?

If the answer to any or all of the above questions is NO, then you are paying $$ that aren't due on an illegal claim.

If your other debts are credit cards, and your last payment to the ORIGINAL creditor was more than 4 years ago, you are AGAIN paying for a "dead horse" and doing more damage to your credit by "settling" than you would by NOT paying them a cent.

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