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CACH.. Should I stry or just leave it alone

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Ceejay1978
Regular Contributor

CACH.. Should I stry or just leave it alone

I had an account with Chase which was CO to CACH (Collect America).  I paid it (in full) to Collect America and while I have no proof, the lady said she would take the Derogatories off my account after the last payment cleared..
 
So I GWd CACH and they responded that the account was turned over to them, SETTLED in full (which confuses me) and I owe nothing. The letter is signed. 
 
So Should I start a campaign to:
 
1) take the word SETTLED off of my CR because it was PIF-fees and all
2) Throw a tantrum about how all derogatories should be removed from my account
3) and hope and pray that they remove everything all together
 
I googles the signer and I was thinking I would send a GW-like letter AND email the signer of the letter.  It says she is a VP at Collect America (CACH)
 
 
or should I just dispute with CRA
 


Message Edited by Ceejay1978 on 09-26-2008 04:11 PM
Message 1 of 5
4 REPLIES 4
ralbusta
Frequent Contributor

Re: CACH.. Should I stry or just leave it alone

What state are you in....does your state require licensing? My state (NM) requires licensing and they are not licensed. I'm taking this route to try and get them off...you can read my letter here:
 
 
Hope that helps some. Good luck!
Message 2 of 5
Anonymous
Not applicable

Re: CACH.. Should I stry or just leave it alone



@Ceejay1978 wrote:
I had an account with Chase which was CO to CACH (Collect America).  I paid it (in full) to Collect America and while I have no proof, the lady said she would take the Derogatories off my account after the last payment cleared..
 
So I GWd CACH and they responded that the account was turned over to them, SETTLED in full (which confuses me) and I owe nothing. The letter is signed. 
 
So Should I start a campaign to:
 
1) take the word SETTLED off of my CR because it was PIF-fees and all
2) Throw a tantrum about how all derogatories should be removed from my account
3) and hope and pray that they remove everything all together
 
I googles the signer and I was thinking I would send a GW-like letter AND email the signer of the letter.  It says she is a VP at Collect America (CACH)
 
 
or should I just dispute with CRA
 


Message Edited by Ceejay1978 on 09-26-2008 04:11 PM




I would so TOTALLY not dispute with the CRAs!! All you'll do, when it updates (and it probably will -- don't even take the chance it won't), ding your FICOs even WORSE (since FICO will see it as a new ding).

GW the crap out of them. Fill Ms. VP's email box with pleadings and smarmy GWs. Remind her (gently) that she (or one of their CSRs) did, in fact, agree to delete the TL with the CRAs. In fact, don't ASK them to delete, ask them WHEN they WILL delete (since they did agree to it).

As for "settled in full" that's just fancy talk attesting to the fact that they are accepting a settlement as legally paid in full -- meaning, they've waived their right to demand the balance (the UNsettled amount) later. They can never (legally) ask you for the remaining balance.

Please keep us posted!! And make sure to do a search on CACH here ... you might find GW/negotiation tips others have used successfully!!

Best of luck!! Smiley Happy
Message 3 of 5
Ceejay1978
Regular Contributor

Re: CACH.. Should I stry or just leave it alone



@Anonymous wrote:


@Ceejay1978 wrote:
I had an account with Chase which was CO to CACH (Collect America).  I paid it (in full) to Collect America and while I have no proof, the lady said she would take the Derogatories off my account after the last payment cleared..
 
So I GWd CACH and they responded that the account was turned over to them, SETTLED in full (which confuses me) and I owe nothing. The letter is signed. 
 
So Should I start a campaign to:
 
1) take the word SETTLED off of my CR because it was PIF-fees and all
2) Throw a tantrum about how all derogatories should be removed from my account
3) and hope and pray that they remove everything all together
 
I googles the signer and I was thinking I would send a GW-like letter AND email the signer of the letter.  It says she is a VP at Collect America (CACH)
 
 
or should I just dispute with CRA
 


Message Edited by Ceejay1978 on 09-26-2008 04:11 PM




I would so TOTALLY not dispute with the CRAs!! All you'll do, when it updates (and it probably will -- don't even take the chance it won't), ding your FICOs even WORSE (since FICO will see it as a new ding).

GW the crap out of them. Fill Ms. VP's email box with pleadings and smarmy GWs. Remind her (gently) that she (or one of their CSRs) did, in fact, agree to delete the TL with the CRAs. In fact, don't ASK them to delete, ask them WHEN they WILL delete (since they did agree to it).

As for "settled in full" that's just fancy talk attesting to the fact that they are accepting a settlement as legally paid in full -- meaning, they've waived their right to demand the balance (the UNsettled amount) later. They can never (legally) ask you for the remaining balance.

Please keep us posted!! And make sure to do a search on CACH here ... you might find GW/negotiation tips others have used successfully!!

Best of luck!! Smiley Happy

TYVM.  Does the fact that I paid them in full rather than settled even matter in regards to my scores?  I just sent out another GW and I think i'm going to follow it up with an email to MRS  VP.  TY  I will definitely update!
Message 4 of 5
Anonymous
Not applicable

Re: CACH.. Should I stry or just leave it alone


@Ceejay1978 wrote:
TYVM. Does the fact that I paid them in full rather than settled even matter in regards to my scores? I just sent out another GW and I think i'm going to follow it up with an email to MRS VP. TY I will definitely update!





W-e-e-l-l-l-l, paying in full doesn't do doodly-squat for your FICOs, but it DOES look much better under a manual review for credit -- like say in applying for a mortgage (or other loan product) or asking for reconsideration on a declined CC application.

I wouldn't settle for that, though. They, whether by direct or indirect implication, said they'd delete the file. Hold them to it.

I'd email campaign'em AND send them snail-mail GWs. Use nice-smelling perfume and pretty paper. Remember, you catch more flies with honey (or perfume) than vinegar!!

Best of luck!! Smiley Happy
Message 5 of 5
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