Should I ask OC if he will take a lower amount as long as he takes it off my credit report.

[ac921ol]

I have a collection from Trojan Professional Services, they said my OC still holds the debt, so I need to discuss it with them.

OC already said he wrote it off (not exactly sure what that means) can someone enlighten me???

1. Should I offer to pay 1/3 of the amount as long as he pulls it from the CA?  (Total amount is $837)

if he says no,

2. Should I make a deal where he pulls the report from the CA and I will pay a monthly payment each month until the debt is satisfied? (If we go this route, how do I get this in writing? or what do I write up)

[ac921ol]

After talking to Trojan this is what I figured out.

March 10th 2010- Sent to Trojan Balance of $837

March 15th 2010- Paid $200 on balance of $837 left $637

March 15th 2010- OC added $100 to balance

March 18th 2010- Paid $100 to balance of (what I thought $637) to make it $537

August 28 2012- OC added  $200 balance and now Im back at the $837 thats listed on my CR.

A little disheartening, that I paid $300 on the Original $837, and they just added another $300 to make it $837 again.

[ac921ol]

any little bit will help, im a little torn at what to do, especially since I've paid $300 and they added $300 again.

[DaBears]

The OC charged off/written off the unpaid bal due to IRS rules and regulations. That doesn't mean it's still not collectable it justs means when they do that they can recoupe some of the money back at tax time. Is the OC listed on your reports?

[ac921ol]

My CR has Trojan on it but Trojan has the OC listed when you look at details. Trojan said the OC still owns the debt.

[DaBears]

I would talk to the OC and see if they can recall the account back and you pay them. If they can recall the debt the CA deletes their trade line as they don't have collection authority anymore.

[RobertEG]

His statement that they have "written off the debt" is really of little consequence to you other than the fact that they can additionally report the charge-off to the CRAs.

Your debt to them is carried as a receivable asset on their accounting books and corporate statements.

When a debt has reached a point where the creditor can declare it to have become "uncollectible," they can move it in their ledger from a receivable asset to a non-recievable bad debt.  That charge-off reduces their taxable assets, and thus gives them a tax writeoff.  So, from their business perspective, they have recouped a portion of the potential loss.

However, it means little to the consumer, as the entire debt remains due and they can continue to attempt to collect the entire amount, or sell the debt, and the new owner can continue to attempt collection of the entire amount. 

Yes, you can still negotiate any terms of payment with them, just as if it had not been charged-off.

If they accept a payment plan, they will almost assuredly present you with a written agreement, which then becomes a contract upon which they can sue if you breach the terms of payment.

If you are offering to pay either less than the full amount, and/or request deletion of any credit reporting, they can choose to reject the offer.

Requesting both settement for less and CR deletion of any reporting they have made complicates the issue by asking for two concessions.

As with any settlement offer, the higher your offer, the more likely the chance of their acceptance.  A low offer may drag things out, or they may choose to simply go to court and sue for the full amount.  Their decision.  Has the SOL expired on the debt?

The creditor can agree to delete any reporting they have made, but cannot make a biinding agreement that compels another to delete any reporting they may have made.

If a debt collector has also reported a collection, they can request the debt collector to delete, but cannot compel them to do so.

If you enter into a written payment agreement, they would then be required to notify the debt collector that they have agreed to payment terms, and the debt collector would be required to cease collection on the debt until such time as you might breach that contract.

Call the OC and feel them out as to both a settlement or their williingness to either delete any reporting they have made, or request their debt collector to also delete.

Only they can give you specific answers.

[ac921ol]

So it seems as I should contact the OC, and ask them to pull the Collection and I will begin to pay them.

Next part is I would like to pay the $537 and not the $837, but that will need to be discussed with them. Would you stop by there office and discuss this, or would you email???

[RobertEG]

What the OC can charge in interest or fees is governed by your account agreement with them, and any laws of your state that may limit such interest or fees..

When a debt collector becomes involved, you dont have a contract with them, so the FDCPA kicks in by stating that it is a violation for them to attempt to collect any amount that is either not specifically authorized in the account agreement with the creditor, or is otherwise an amount that a debt collector may be due under the laws of your state.

FDCPA 808(1). 

I would recommend a careful review of the terms of your account agreement prior to contesting any fees or interest they assert are due.

Is the recent additon of interest/fees an update back to any begin of delinquency, or did you have a farily recent accounting that would isolate the updated amount to only the last few months or so?

[ac921ol]

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@RobertEG wrote:

I would recommend a careful review of the terms of your account agreement prior to contesting any fees or interest they assert are due.

Is the recent additon of interest/fees an update back to any begin of delinquency, or did you have a farily recent accounting that would isolate the updated amount to only the last few months or so?

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I would need to contact the Dentist office to get the terms, I just want to try and get this off, and for some reason Im nervous about calling/emailing/stopping by to discuss this with them, I want it off my CR and I have a good chance of that happening since the OC owns the debt still.

Date of 1st Delinquency 11/2009

Last Payment 5/1/2010

Date Last Reported 9/2012