topic Re: speaking with a CA reset SOL in Rebuilding Your Credit

speaking with a CA reset SOL

Anonymous — Tue, 22 Dec 2015 19:15:45 GMT

Good morning,

I have conflicting responses from different websites Ive looked at. Does talking to a CA reset the SOL on a collection? I read it does then I read it doesnt. Just need claryfication.

Re: speaking with a CA reset SOL

Anonymous — Tue, 22 Dec 2015 19:20:45 GMT

Urban Legend!!

Re: speaking with a CA reset SOL

Anonymous — Tue, 22 Dec 2015 19:46:33 GMT

Thank you,

Is it better practice to talk over the phone first then send a PFD or just send a PFD?

Re: speaking with a CA reset SOL

Anonymous — Tue, 22 Dec 2015 20:12:31 GMT

@Anonymous wrote:
Thank you,
Is it better practice to talk over the phone first then send a PFD or just send a PFD?

Depends on you and how good you are at oral negotiations.

Re: speaking with a CA reset SOL

RobertEG — Tue, 22 Dec 2015 20:18:24 GMT

Whether or not your SOL has expired is a determination that can only be made by a judge, based on a comparison of the facts of your situation applied to your state SOL statute. You will get different determinations based on differences in state SOL provisions and different facts as to what was said to the debt collector.

An example would be a state SOL statute that says a firm agreement to pay against the debt resets the SOL, and a showing that you verbally agreed to a firm payment plan.

If you dont agree to the validity of the debt, and are simply negotiating by suggesting terms, that is not a firm oral contract.

You are getting different answers because..... it depends.

Re: speaking with a CA reset SOL

gdtobefree — Tue, 22 Dec 2015 23:23:34 GMT

Paper trail paper trail paper trail. Can you prove a verbal agreement? Will a verbal agreement hold up in court if it goes to court?

Re: speaking with a CA reset SOL

gdale6 — Wed, 23 Dec 2015 00:02:54 GMT

@gdtobefree wrote:
Paper trail paper trail paper trail. Can you prove a verbal agreement? Will a verbal agreement hold up in court if it goes to court?

Paper trail is the gold standard but a verbal agreement can also be enforced and especially so if its recorded.

Re: speaking with a CA reset SOL

Anonymous — Wed, 23 Dec 2015 00:08:53 GMT

If it were me I'd do everything over the phone, I've never sent a written pfd, but I know the general rule is to avoid phone contact

Re: speaking with a CA reset SOL

Anonymous — Wed, 23 Dec 2015 00:40:37 GMT

I just got off the phone (a 30 min convo) with Credit services for Navient spin off from Salie Mae, for one of my private loans that I had defaulted in the amount of 8K. She kept going on about what she can do for me but of course none of them sat well so I asked her to ask her boss if they would accept 2k now and 2k Jan 15 as a settlement for them to delete the whole TL from all three bureaus. She says she will call me back in 10. She calls me back and says its a go. I stated that before I make any payments I am going to need this in writing. She says they will send out the agreement and I should have that in 10business days. This almost seems too good to be true. So now I will sit and wait.

Mind you that this account has switched 4 times since I was deliquent. Do you think I did good? or should I have validated first? Now Im not so sure since Im thinking about it.

Re: speaking with a CA reset SOL

gdale6 — Wed, 23 Dec 2015 00:43:49 GMT

@Anonymous wrote:
I just got off the phone (a 30 min convo) with Credit services for Navient spin off from Salie Mae, for one of my private loans that I had defaulted in the amount of 8K. She kept going on about what she can do for me but of course none of them sat well so I asked her to ask her boss if they would accept 2k now and 2k Jan 15 as a settlement for them to delete the whole TL from all three bureaus. She says she will call me back in 10. She calls me back and says its a go. I stated that before I make any payments I am going to need this in writing. She says they will send out the agreement and I should have that in 10business days. This almost seems too good to be true. So now I will sit and wait.

Mind you that this account has switched 4 times since I was deliquent. Do you think I did good? or should I have validated first? Now Im not so sure since Im thinking about it.

If you know its yours you did good and are going to get it in writing. Do not back out and try to DV now you will most likely lose any goodwill they are giving you.

Re: speaking with a CA reset SOL

Anonymous — Wed, 23 Dec 2015 00:53:01 GMT

Thank you for the reassurance!

Re: speaking with a CA reset SOL

Imperfectfuture — Wed, 23 Dec 2015 02:12:09 GMT

@Anonymous wrote:
If it were me I'd do everything over the phone, I've never sent a written pfd, but I know the general rule is to avoid phone contact

I as well. If oral negotiations broke down, then paper trail started with BBB or CFPB. Do not have time for postal in this day and age. Just me.

Re: speaking with a CA reset SOL

Anonymous — Wed, 23 Dec 2015 04:48:24 GMT

@gdtobefree wrote:
Paper trail paper trail paper trail. Can you prove a verbal agreement? Will a verbal agreement hold up in court if it goes to court?

Record the call. Perfectly legal in ALL states.

Re: speaking with a CA reset SOL

Anonymous — Wed, 23 Dec 2015 17:34:15 GMT

So I got the email this morning, they said it would be better to get it this way than wait for the mail, but it was not what we had agreed. It states 2200 december 29th and 4500 on the 15th of January. Since this is not what I had agreed to do I call them back or send a letter in?

Re: speaking with a CA reset SOL

darwin_wins — Wed, 23 Dec 2015 18:08:23 GMT

Call them and tell them that these are not the terms that both CA and you agreed on and that you would be happy to pay them once you have the letter in hand.

Re: speaking with a CA reset SOL

elim — Wed, 23 Dec 2015 18:18:56 GMT

on the edge of my seat... great thread :] good luck op! keep us posted!

Re: speaking with a CA reset SOL

Anonymous — Thu, 31 Dec 2015 20:11:53 GMT

Update!

So after countless back and forth. I finally won! I spoke to a supervisor and told him that I was told in November that I was offered 3700 as paid in full by one of the CSR's that I spoke too (which was true). ([a month later}I had actually wanted to pay the 4000 like agreed but they wanted 6700. ) I told him that at the time I didnt have that much saved and can now pay it off in one transaction if they agreed to have the account settled in full and report a zero balance. (at this point I knew I was not going to get a delete. I figured once it states 0 and settled in full I will GW the hell out of Navient) Was put on hold and another Supervisor came on who had more authority I guess and said ok. Of course I wasnt going to pay until I had that in writing and I did. He emailed the agreements and I paid the 3700. All of this happened Monday! SO i ended up saving 300 dollars. This is a great way to end the year!! No more phone calls!!