I have two accounts with Cavarly which I have spoken about a few times in this forum. They are the only two remaining accounts on my file and no doubt keeping me from taking the next jump in credit scores:
$3617 Original 2009 Debt that that they have grown to $6737 over the last 5 years. (Bank of America charge off)
$5212 Original 2009 Debt that that they have grown to $9708 over the last 5 years. (Bank of America charge off)
This is a total of $16445 that is set to fall off my credit report in the next 180 days. Trans Union is removing next week and Experian/Equifax I know I will have to wait until at least 90 days from now.
I called Cavarly and asked them if they would accept a settlement to go ahead and reduce the balance to zero early. I offered 5% which I think is generous considering the amount of time remaining and the circumstances. They didn't even want to talk about it.
I know we can talk about morals, principals and company standards... but why would ANY debt collection company not negotiate to put money in their bank when they know its going to fall off the report in less than 180 days forever.. and they are legally time barred from a legal judgment. They didn't want to even give a counter offer.
Also, during the call the lady said I would have to lift a dispute for them to even discuss anything with me. I was too worried that lifting my dispute would cause something to reage since I don't know all the laws.. so I'm not touching that with a ten foot pole.
ttt
