Re: trying to settle but . . .

Posted by Why Chat (209.240.205.61) on January 20, 2004 at 19:33:26:

In Reply to: trying to settle but . . . posted by Wingin it on January 20, 2004 at 17:32:39:

I am glad you seem to have found a way to clear your debts and avoid lawsuits and improve your credit with the "help guide" you bought.

However,-- you say the CA's you "sent" the "letters" to have said they would settle for 30%. ?? On what terms? A new signed settlement agreement? In writing? Even if the agreement is for 30% and a promise to delete THEIR tradeline from your reports, you should be aware that any new "settlement" agreement, that BOTH you and the CA signed, creates a NEW contract and allows them to sell the unpaid balance to another CA.

I don't know how close to SOL you were,but if you payed them 30% of the debt, you just allowed 70% to be re-aged and sold to another CA.

W & A and the ones who did not accept your "offer" are the least of your problems.

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