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Settlement....How much?

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Anonymous
Not applicable

Settlement....How much?

Accelerated Receivables for Safetouch $1556.30

A DV was sent. I received a contract back. I started to give up but started to research more and read that a contract is not enough. That got me to thinking. I paid this company in full. My credit was not good enough for month to month billing. I remembered I paid with a check. And each time I moved I paid $350 to transfer service. So I dug up the bankstatements typed up a letter and mailed it to them stating this was pif to the OC and they have no right to collect on a debt that has been paid. Some stuff that sounded good and fit with my case from online research. Pray with me on this one. Waiting to see what happens.....

 

So I received a response basically stating that the contract in which I signed locked me in for 5 years. I see no way out so to put it pass me I just want to PFD. The debt is $1556.30. $500 software fee/$211.90 for 22 months of service/$854.40 for broken contract.

I still think this is a bunch of bs and hate to cough up one penny! 

 

Short to the long....How much should I expect to settle for? I read somewhere 20%. Or does anyone have any advice I could use to fight this debt?

 

Message 1 of 6
5 REPLIES 5
Whitneyy
Valued Contributor

Re: Settlement....How much?

Are you out of SOL? That's important to know before trying to offer a settlement because they can accpet and then try to sue you for the reminding balance.

GOAL - 700 FICO across the board!
Message 2 of 6
Anonymous
Not applicable

Re: Settlement....How much?

Looks like the SOL in my state(FL) is five years for a contract. The Contract was signed in Sep 2010. Should I wait untill that time next year to send a PFD?

Message 3 of 6
wa3more
Established Contributor

Re: Settlement....How much?

Did Accelerated buy the debt ? If so, they paid 3-5% for it. If you want to settle at 20%, start low at 5%.

 

Review contracr and see if it has arbitration clause. Arbitration is expensive for debt buyers and OC.

 

Is this on your credit report ?

Message 4 of 6
Anonymous
Not applicable

Re: Settlement....How much?

Ok that is a great idea. I will start at 5% that way I can work my way up. Makes better sense. Yes, Accelerated has the debt and they are reporting it to the CRA  not Safetouch. I'm unsure if they actually purchased the debt? Is there a way to tell? The letter I received did state they are collecting on behalf of thier client(safetouch) and that  letter actually came from a lawfirm and not Accelerated. So maybe the lawfirm is working for Accelerated who purchased the debt from Safetouch. 

Message 5 of 6
wa3more
Established Contributor

Re: Settlement....How much?

safetouch , if they reported to credit bureau,would report zero balance if they sold the debt.

 

It sounds like they did not sell it and Accelerated is collecting on it.

 

Did they violate any provisions of the FDCPA or FCRA ? It so, you have leverage. I would read these if you are unfamiliar.

Message 6 of 6
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