Definition of a settlement?
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Posted by jonrdt
(152.163.252.134) on February 24, 2004 at 13:07:42:
If a collectioin agency can legally report a balance due after a settlement. What exactly is the definition of a settlement? I am really confused by this point. What can I do now. We were trying to get a mortgage. Our lender said that all accounts had to be taken care of before we could qualify. I worked out settlements with all of our CA and OC wherever possible and paid the full balance on some. We paid after we recieved written agreements. And noted on our checks settlement in full $0 Balance. Now several of the settlements are reporting the difference between the original balance and the settlement. Do we have any recourse.
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