Settlement Offer - Verbal only. Help!
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Posted by Osakisgirl (206.145.169.54) on December 13, 2003 at 10:09:45:
My brother has been in dispute with Sears over a credit card debt. The card was last used in 1998 and the balance consists of accrued interest and late charges. CitiCard has extended an offer to settle for 65% of the balance, but will not confirm the conditions of this offer in writing. They tell us to send the money, THEN they'll give us a statement indicating the account was settled. Having been misled by Sears many times previously, we're reluctant to hand over the cash without assurance that they won't come back and demand further payment. Can someone advise us on whether we can trust that this is a legitimate and final settlement offer? Thanks!
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