OC Settlement letter not signed
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Posted by Paranoid
(66.24.1.138) on July 19, 2004 at 19:09:17:
Today I received the settlement letter from BK1 on my account 15 days prior to charge-off. My concern is the letter looks like a form letter ( On letterhead) and is not signed by anyone nor does it mention a 1099-C. So I am concerend this could be a trick. I am being Paranoid from reading to many CA stories? What is does say: From Card Member services, My name add, account #. We are pleased to confirm that we've agreed to settle your credit card account for $$$. Our settlement brings these three advantages.
* You will pay $$$$ a significant savings over the full balance you owe us.
* We'll stop all efforts to collect.
* We'll report your account to the national credit bureaus as "settled" with no balance due. To accept this offer please send your payment for $$$ within 10 days. Please destroy your cards bla bla bla.. I am planning to call them ( & record )the following. 1) Who am I talking too. 2) The charge off date, 3) Should this agreement been signed 4)Will I receive a 1099C for XXXXX based on the forgiven amount? The Form, format etc is identical to the other letters I received. Comments PLEASE!
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