Re: Settle or not pay??
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Posted by Rose in Georgia
(188.8.131.52) on April 28, 2004 at 12:02:40:
In Reply to: Settle or not pay?? posted by TommyV on April 27, 2004 at 20:43:25:
If you can settle for 1/2 the amount by borrowing the money from family, than i would do that. I think the offer is decent.
BUT, make sure you get everything in writting! The amount that is now considered "Paid in Full." - and a statement that the collector cannot sell your account to anyone else- this I think comes with the territory of Is the collector still representing the Credit Card Company or are they solo. + also negotiate what is placed on your Credit Report. "Paid in Full"- much better than- Charged Off.
once you have what you need in writing and have paid- also get a final letter.
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