Re: Protection from Wolpoff and Abramson Methods

Posted by THE INSIDER (64.12.96.78) on November 24, 2003 at 00:45:04:

In Reply to: Protection from Wolpoff and Abramson Methods posted by Aspenanne on November 22, 2003 at 02:11:07:

Aspenanne...I beleive that I've responded to another one of your questions but, someone mentioned Arbitration in one of the replies. If on the original contract it states that prior to suit, Arbitration is mandatory...that's not a bad thing. So don't worry about receiving a letter from the National Arbitration Forum, it's like getting a "free" attorney to review your case as an unbiased party. This is a good thing..don't avoid contact with the Arbitrator, they can help you work things out but I don't beleive you have to worry about that for some time yet. Especially if you're only 90 days delinquent.

Also just as an FYI...sending a "Validation Request" at this point is insignificant. If the account is 90 days delinquent..you most likely rec'd a collection letter giving you the option of validation already during the first 90 days of their collection attempts. A validation request is a powerful tool for you upon your initial notification of their intent to pursue collections by legal means. Keeping in mind ofcourse that if they tell you that they're going to sue...they must have the intent and the ability to do so. And from reading the other reply's, it looks like they do.

Also...(sorry for the mini-novel)...if they're telling you not to pay it off in one lump sum payment but to spread your stated payments out over a year, it does and doesn't make sense. If you have an account that's currently openend but delinquent, it's best to continue paying on that account..if you can..because it will assist you on fixing your credit standing with that account, but if an account is charged-off...it really doesn't matter.

I beleive my previous response asked several questions in an effort to assist you further, I'll just wait for your response.

THE INSIDER

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