Advice, I Received a Letter From a Bill Collector

[Girac]

Im short, I divorced and the ex was suppose to handle that account, She filed for BK, now the collection agency if coming after me. The balance is ~6100K. Should I make lump sum offer of 45% or $2750 and demand a PDF? Would they accept this ir counter, or am I too high/low?

Thanks

[RussianPassion]

Was the account under both names or just yours or just hers?

[RussianPassion]

Also, check and see if that account is within SOL based on date of first delinquency and your state laws.

[Girac]

account was in both out names, since she got the furniture, she got the bills. What is a SOL, and how would i fing out that info?. All this is new to me.

[RussianPassion]

SOL is statute of limitations. Depending on the state you live in, creditors and/or collection agencies have specific timeframe to collect their debt.

I recommend reading some of the sticky posts in this forum. Especially this one... What Steps Do I Take? Do I DV? PFD? It will give you the basic info you need to know to plan your next step.

[MarineVietVet]

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@RussianPassion wrote:

SOL is statute of limitations. Depending on the state you live in, creditors and/or collection agencies have specific timeframe to collect their debt.

I recommend reading some of the sticky posts in this forum. Especially this one... What Steps Do I Take? Do I DV? PFD? It will give you the basic info you need to know to plan your next step.

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To clarify this a liitle bit the SOL is the amount of time a creditor can file a lawsuit for unpaid debt. The SOL varies from state to state. But even after the SOL has expired the debt remains and attempts to collect it can go on forever in theory.

The SOL differs from the CRTP (Credit Reporting Time Period). The CRTP is used to determine how long negative items can be reported. But even after the CRTP has run out that same debt still remains.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[RobertEG]

You cant "demand" a pay for deletion.  PFDs are granted at the good-will of the party who reported the information.

Offers both for payment of less than the full amount and for PFD good-will are asking for a double concession on the part of the debt collector.

If the debt collector owns the debt, they are free to make their own settlement decisions, but if the debt collector remains only as a collection agent of the OC, they would probably need OC concurrence, so it is hard to say if settlement will be accepted.

As an aside, what is more important to you, CR deletion or settlement of the debt?  To obtain both, you might have to be willing to up the offer.

PFDs coupled with settlement for less are very hard to predict.