[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?

[hannah]

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.

[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.

[hannah]

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.

[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.

[roybean]

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.

[centex]

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.

[drivel]

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.

[Hedwig]

I didn't know you were a grammar teacher, drivel.