CC Settlement offer

[damnedanddetermined]

I have a "Juniper Mastercard account" that has fallen behind big time. They have offered me a deal to pay half of it and it be considered paid off....Is this a joke or a trick? And should I get the deal in writing and have them remove the late pays as well? Just curious, because I could have sworn they turned me over to collections...I did receive a "collection letter on collection company letterhead"....what will this show on credit? anyone with advice and knowledge out therehave a response???

Message Edited by llecs on 02-17-2010 12:01 PM

[Anonymous]

You should probably pull your CR's to see who is reporting the debt?  Whether its the OC and/or the CA.  If both are reporting, DV the CA so they stop reporting and deal direct with the OC.  As far as settlements, they look just as bad paid as they do unpaid.  Granted, a thorough underwriter will see that you attempted to settle debt.  I would try a PFD with the OC (once verified that they still own the debt)  If you get nowhere with that route, the only thing left is to Settle/PIF then send GW letters out daily

Good Luck!