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Posted by catb
(4.14.166.70) on July 07, 2004 at 15:49:16:
hmm, i scrolled and i got a new font on here. weird. italics. anyways..........you need to ask whychat for this cause i may miss something in what it needs to say or be worded. in a nutshell..my understanding is..it needs to say this debt is paid in full..it will not be resold or transferred to another debt buyer or CA.some try to have the tradeline deleted but i dont know how well that works and they know you care about your credit--they will fleece you worse. that you will receive a 1099 for any amount over 600 within so many days..ask others what else and how it should be worded. its to prevent them from reselling the diff owed..which they will.and you will find yourself doin this for the rest of your life..and im not sure a CA can issue a 1099..only a OC can, i think. im not sure settling with any CA is smart,,,you need other views on that. cap1 still owns mine..i got 2 letters yesterday offering to settle. if only i had the money!!!!!!!! i know its a drawn out process, as they will fleece ya all they can. i know some CAs will settle much better and easier than others. if its bought..they only paid maybe 15$ for it total, anyways. ask whychat exactly his/her opinion..and lady in red..and B..cause im just not sure enough of my facts to tell ya. hugss and good luck. check on the thing if a CA can even give a 1099. it must be signed by a person who can actually give the responsibility to offer this settlement and not some yahoo pencil pusher who they will come back at ya and say..he couldnt sign that so it means nothing..this is kinda complicated, as you can see. :)
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