Settlement offer?
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Posted by Bill G.
(64.170.27.150) on September 11, 2003 at 14:02:07:
First...thanks to Scott for his replies to me earlier. I was reading up on this forum today, as I haven't in awhile. And I was just wondering what the best scenario for me should be. I have a closed account with Capital1. I don't know if they sold the debt to NCO yet or not, but NCO is sending me letters and calls (earlier thread). The debt isn't too high....NCO says $961. They sent a settlement offer for $769. Now I have read that on a credit report settlement is bad, can be worse than BK. Now, I already have horrible credit, so might not hurt me now...but want to get it better. I also read that a CA cannot legally have Capital1 take it off my credit report, even if they agree. Any suggestions on the best thing for me to do? Just offer them a settlement and get it done with? Agree to the settlement they sent me? I would guess around $360 of the debt is all late and overpayment fee's.
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