Re: Example of a $1 contract
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Posted by SteveX
(199.245.32.11) on January 20, 2004 at 15:16:30:
In Reply to: Re: Example of a $1 contract posted by computerguy on January 20, 2004 at 14:31:37:
I have a couple of questions for you CG on this $1 thing...I'm just curious - do you suggest doing this before or after you request validation from the CA? If you posted the answer for this this before I apologize for asking again....I mean, how many CA's actually legally validate a debt? - So isn't this almost validating the debt for them? If they decide to sue you couldn't the CA take this $1 letter as an example of the debtor trying to set up a payment plan, thus allowing them to argue (whether legal or not I don't know) something like "they made us an offer, we refused, now we're suing for full amount"...it seems to me like you're just telling people to make a first offer on a settlement..... - all in all I'd like to know how this helps a person more than it helps the CA going after them? I mean, you yourself are calling this a "$1 contract" & " the contract you had established"....& the only thing that can re-start the SOL (as far as I know, I'm a frequent reader of this board but not a frequent poster & don't know as much as most here so please nobody take what I say here as law) is a new contract entered into by both parties...if the CA accepts this it seem to me you're giving them one. They can continue to report this to the CRAs as long as you send them $1...like LadynRed said almost 20 years!! How does that help someone? And your example amount of $235.12....it's highly unlikely anyone would sue for that amount, why not just wait out the SOL?? & if someone owes say $2000 why would any CA take a $1 offer? I guess I'm asking, how does this $1 contract thing of yours help anybody but the CA? Thanks!
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