Re: So, Debt Validation should be requested ONLY if you are OUT of SOL?
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Posted by Paul
(216.127.68.137) on March 16, 2004 at 19:26:00:
In Reply to: So, Debt Validation should be requested ONLY if you are OUT of SOL? posted by Sweetyb on March 16, 2004 at 14:31:10:
Regarding your original post You wrote-
“At the same time, I don't want to provoke any lawsuits. I'm just trying to settle a debt I know is mine, but for a reasonable amt. “ LTD Financial is a debt buyer.
6 month to a year old charge offs sell for 5 cents on the dollar. Here is a general accounting.
Citibank charges off $1800
Taxpayers subsidize charge off at Citibank’s 35% tax rate for $630.
Citibank sells account to LTD for $90. Net Losses to each entity. Citibank $1080(minus phony late fees and default interest)
Taxpayers $630
LTD $90 Now you have to decide to whom and how much you need to pay to make everything right with the world again. As you can see, LTD took the smallest loss here, and they were the only one willingly buying into a dead account. They are the LEAST deserving of any of your money. Citibank can’t take your money, Treasury doesn’t want it, and LTD doesn’t deserve it.
Donate some money to charity and tell the LTD pan-handlers to get a job.
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