@leenburke wrote:I received a settlement offer from Chase Receivables in the mail today offering to accept 40% of the debt in one full payment with the orginal creditor being Figi's. Oddly, Chase receivables is not yet showing up on my credit report, only the OC Figis. I did send Figi's a PFD letter last month, but did not hear back from them directly. Also, one of the payment options is by check made out to Figis, not Chase Receivables.
How do I handle this? Pay to OC if still possible maybe Chase Rec will not report, no guarantee though.
I really would have liked for Figis to agree to PFD obviously. If I pay Chase Receivables their settlement offer now, could it conceivable still end up on my credit reports, albeit with a zero balance? Yes
I'm assuming if I do pay Chase that Figis will update their account on my CR to a zero balance and I will then have to try to GW them, is that correct? Yes
Should I just call Chase Receivables and ask if they are in the process of reporting this to the credit bureaus? No
Thanks in advance.
@leenburke wrote:Why is it not a good idea to call Chase Receivables about what they are planning to report? You want all communications in writing including their agreements they make with you, if not on paper it doesnt exist, protect yourself is why. This is America, no ones word should be taken at face value especially a CA or JDB.
I ask because I actually just did a PFD with them and they were easy to deal with, while Figi's (from what I've read) is difficult about PFD's and GW's.
Best case scenario- I contact Figi's again, they agree to PFD and the whole thing is gone....probably will not happen (from what I've read).
Second best case scenario- I contact Chase Receivables, they agree to PFD (or just not report) for 40% of the settlement and the balance on Figi's reflects a zero balance on my credit report.
third scenario- I contact Figi's, they accept payment, Chase Receivables doesn't report and I end up with a zero balance Figi's account.
worst scenario - I wait for Chase to report, they accept a PFD, and I end up with a zero balance Figi's account.
Of course, if anyone has a good contact or advice for dealing with Figi's I'm open to suggestions. Thanks.