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10-30-2007, 04:14 AM
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#1 | | New Member
Join Date: Oct 2007
Posts: 6
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Hello I have received an offer to settle a debt for 50% off the original amount and would like to accept it; however, I do not want this to come back and haunt me at a later time. My question is what to do in order to make sure the creditor marks the account paid in full and closed as stated in the offer letter?
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10-30-2007, 04:45 AM
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#2 | | HONORED GUEST
Join Date: Jun 2006 Location: West-By-God-Virginia
Posts: 6,725
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Originally Posted by girl63  Hello I have received an offer to settle a debt for 50% off the original amount and would like to accept it; however, I do not want this to come back and haunt me at a later time. My question is what to do in order to make sure the creditor marks the account paid in full and closed as stated in the offer letter? | Is this an OC or JDB? In all probability they won't mark it paid in full, they will mark it "settled for less than full amount". If you want to pay this, you want to call them and negotiate for it to be deleted from your credit reports in return for payment. Make sure you get the terms of the agreement in writing, signed, before you send the $$. Often times when you pay less than full amount, a JDB will sell the remainder off to another JDB so you want to make sure that the debt is extinguished upon your payment.
__________________ Let's Go Mountaineers!! Let's Go Drink Some Beers!! If something seems too good to be true, it is best to shoot it just in case... Nothing I post on this forum should be construed as legal advice. | |
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10-30-2007, 05:22 AM
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#3 | | New Member
Join Date: Oct 2007
Posts: 6
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That's what I was afraid of. Thank you so much for your response, and I do believe from what I am reading online this evening they (afni) are JDB's.
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10-30-2007, 05:39 AM
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#4 | | HONORED GUEST
Join Date: Jun 2006 Location: West-By-God-Virginia
Posts: 6,725
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Originally Posted by girl63 That's what I was afraid of. Thank you so much for your response, and I do believe from what I am reading online this evening they (afni) are JDB's. | Yes, AFNI is a JDB. Did you send them a DV letter? It's just me, but I would never pay a JDB unless they could prove I owed the debt and I owed it to them.
__________________ Let's Go Mountaineers!! Let's Go Drink Some Beers!! If something seems too good to be true, it is best to shoot it just in case... Nothing I post on this forum should be construed as legal advice. | |
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10-30-2007, 05:51 AM
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#5 | | New Member
Join Date: Oct 2007
Posts: 6
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Actually I did not! shame on me! But you know what? Since you mentioned it I didn't recall them stating anything about that little tidbit of info in the letter so I went back and looked at it and it doesn't state the notice to dispute the validity of the debt. Furthermore, this offer letter was the first time I have even heard from them (despite their little spill starting out the letter "We are making another attempt to contact you regarding your overdue account." But by golly, I think I'll write one of them darn DV letters. Thanks for bringing this to my attention.
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10-30-2007, 12:23 PM
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#6 | | Administrator
Join Date: May 2006 Location: Okinawa
Posts: 7,217
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Originally Posted by girl63 Actually I did not! shame on me! But you know what? Since you mentioned it I didn't recall them stating anything about that little tidbit of info in the letter so I went back and looked at it and it doesn't state the notice to dispute the validity of the debt. Furthermore, this offer letter was the first time I have even heard from them (despite their little spill starting out the letter "We are making another attempt to contact you regarding your overdue account." But by golly, I think I'll write one of them darn DV letters. Thanks for bringing this to my attention. | How long ago did you get the letter? Send that DV right away! And do not pay a JDB nothing. They probably paid about 20 cents on each dollar of the debt.
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10-30-2007, 12:45 PM
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#7 | | HONORED GUEST
Join Date: Jul 2006 Location: Austin-area
Posts: 2,980
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Originally Posted by girl63 That's what I was afraid of. Thank you so much for your response, and I do believe from what I am reading online this evening they (afni) are JDB's. |
They are, on occasion, a JDB. However, they also perform a lot of contingency work where they do not own the paper.
You need to determine whether they own the paper or are just working it for the OC. Depending on who the OC is, you may be able to resolve it with the OC...just don't expect a fifty cents on the dollar settlement.
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I am not *your* attorney and you are not *my* client. Nothing in this post shall be construed as establishing an attorney-client relationship.
Would you rather us tell you what WILL happen or would you rather have rah-rah bull-droppings from someplace else? | |
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10-30-2007, 12:46 PM
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#8 | | Elite Member
Join Date: Jul 2006 Location: In the land of reality
Posts: 861
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Originally Posted by roybean How long ago did you get the letter? Send that DV right away! And do not pay a JDB nothing. They probably paid about 20 cents on each dollar of the debt. | (Anything)
If you're not paying nothing, you're paying something.
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About Drivel:
Occupation: De facto mod, slayer of Yahoo posts
Location: The land of reality
Interests: Watching television, movies and Roybean litigate
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10-30-2007, 04:22 PM
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#9 | | Administrator
Join Date: Nov 2004 Location: Greater DC area
Posts: 7,696
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I didn't know you were a grammar teacher, drivel.
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The answer is 42!!
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