topic Accept settlement from CA or DV 1st? in Rebuilding Your Credit

Accept settlement from CA or DV 1st?

Active1181 — Thu, 19 Mar 2009 08:05:09 GMT

Hello.. I received a letter from Capital Management Services for the balance owed to the OC (Chase) for 1486. They stated they are willing to settle for 445.81 due within 10 days and "our records will be updated to reflect that the above account has been satisfied".

Should I DV? What are the chances I can get OC to delete if I accept settlement? These people called me on the phone and I told them I didn't know what they were talking about that I didn't owe Chase anything, they were rude and hung up, I told them not to call back that number. Have not heard from them since, I am certain that I have never received a letter form them; this letter does not have the "reply within 30 days" statement.

The CA is not reporting, as of today, but the OC is. Should I counter with a PFD with the settlement amount? Please help, thanks!!!

Re: Accept settlement from CA or DV 1st?

Anonymous — Thu, 19 Mar 2009 12:05:30 GMT

Is this beyond SOL?

Is Chase reporting a balance?

Re: Accept settlement from CA or DV 1st?

Active1181 — Thu, 19 Mar 2009 17:41:14 GMT

Still within SOL, Chase is reporting a balance.

Re: Accept settlement from CA or DV 1st?

Anonymous — Thu, 19 Mar 2009 18:04:39 GMT

If Chase owns the account and the CA is just collecting, then the settlement was likely agreed on by the OC.

I would call Chase and see if they will pull from CA and accept a settlement.

Re: Accept settlement from CA or DV 1st?

Active1181 — Thu, 19 Mar 2009 18:54:29 GMT

I will see what they say... thanks for all your help!

Re: Accept settlement from CA or DV 1st?

Active1181 — Thu, 26 Mar 2009 03:17:20 GMT

Called Chase; sent me to a recovery number. Spoke to a guy who said he was employed by Chase, he would not give me any information or his ID number. Said I had to go through the CA Capital Mgmt.

I sent a PFD to Chase through PFB... keeping my fingers crossed.