Asset Acceptance Payment offer???

Anonymous · ‎07-22-2008

Ok, so after finding out that the SOL never ends for me, do you think I can offer $2000 to a CA that bought a debt and wants $9000?

The CL was $6000,the rest must be interest but I know that CA's usually pay pennies on the dollar.

I am currently a grad student, had a summer job but that resulted in no extra money.

I have a PT job during school that pays $150 a month. So they wouldn't be anything to garnish if they tried that.

I would use my student loans to pay the $2000,may be able to go to $3000.

Should I send them a PFD letter with the $2000 offer or will it just be laughed at and make them come after me even harder?

They just bought this debt and I am a joint accountholder on the acct.

Also, if they accept the $2000 but not the PFD, should I just still pay so that it is no longer reporting that balance?

Or should I wait until next semester and offer $4000?

Please help, I am feeling depressed, worried, unable to sleep and nervous over this situation.

Thanks!

Anonymous · ‎07-22-2008

Bella1980 wrote:

Ok, so after finding out that the SOL never ends for me, do you think I can offer $2000 to a CA that bought a debt and wants $9000?

The CL was $6000,the rest must be interest but I know that CA's usually pay pennies on the dollar.

I am currently a grad student, had a summer job but that resulted in no extra money.

I have a PT job during school that pays $150 a month. So they wouldn't be anything to garnish if they tried that.

I would use my student loans to pay the $2000,may be able to go to $3000.

Should I send them a PFD letter with the $2000 offer or will it just be laughed at and make them come after me even harder?

They just bought this debt and I am a joint accountholder on the acct.

Also, if they accept the $2000 but not the PFD, should I just still pay so that it is no longer reporting that balance?

Or should I wait until next semester and offer $4000?

Please help, I am feeling depressed, worried, unable to sleep and nervous over this situation.

Thanks!

It is less likely for a CA to accept PFD when still within SOL. YMMV

You say this is a joint account, if they sue, they'll sue both account holders.

Does the other account holder still live within the state?

Anonymous · ‎07-22-2008

The other acct holder actually just left the country, I don't think the CA knows this. She is very old and the card was mainly used for living and hospital purposes. Part of the reason she left was because she was being hounded by CA's 7-8 times a day in regards to this debt. She got very depressed and upset and is also suffering from dementia, alzheimer's and other age issues. She was living by herself but has since gone to live with family overseas. I was added as a joint holder back in the infancy of the card to help my credit, but now it has gone bad I am left to pay for it. I do not mind because I also used the card and my grandma (the other holder) has always been there for me. I am just not sure what to do now. Please any advice on how to tackle and approach this would be appreciated!

Anonymous · ‎07-22-2008

Bella1980 wrote:
The other acct holder actually just left the country, I don't think the CA knows this. She is very old and the card was mainly used for living and hospital purposes. Part of the reason she left was because she was being hounded by CA's 7-8 times a day in regards to this debt. She got very depressed and upset and is also suffering from dementia, alzheimer's and other age issues. She was living by herself but has since gone to live with family overseas. I was added as a joint holder back in the infancy of the card to help my credit, but now it has gone bad I am left to pay for it. I do not mind because I also used the card and my grandma (the other holder) has always been there for me. I am just not sure what to do now. Please any advice on how to tackle and approach this would be appreciated!

Was you added as a AU or a joint account holder?

Was the SOL expired before you moved from the state?

Anonymous · ‎07-22-2008

I was added as a joint acct holder on this account and no I don't think the SOL was done before I moved. We both tried to keep making payments but they just kept increasing the amount they wanted monthly and we couldn't pay any longer. My grandma actually doesn't even really remember the card anymore due to her forgetfulness and when she has lucid moments and she was on a very limited income and could barely support herself. I tried and then when it got too much I just ignored it for a couple of years because it made me depressed. Now I am here and ready to face the crowd but not really sure where I stand and I don't wanna call the CA cos they are mean and lie.

Anonymous · ‎07-22-2008

Bella1980 wrote:
I was added as a joint acct holder on this account and no I don't think the SOL was done before I moved. We both tried to keep making payments but they just kept increasing the amount they wanted monthly and we couldn't pay any longer. My grandma actually doesn't even really remember the card anymore due to her forgetfulness and when she has lucid moments and she was on a very limited income and could barely support herself. I tried and then when it got too much I just ignored it for a couple of years because it made me depressed. Now I am here and ready to face the crowd but not really sure where I stand and I don't wanna call the CA cos they are mean and lie.

Is the OC reporting on your credit report?

If so, look for DOLA. SOL would run from date of last payment. Looks like a 4 year SOL in Florida.

Anonymous · ‎07-22-2008

The OC was reporting on all 3 and just suddenly dropped off of Experian, I'm not sure why. I will check the reports when I get home (I am at work now).

Anonymous · ‎07-22-2008

Bella1980 wrote:
The OC was reporting on all 3 and just suddenly dropped off of Experian, I'm not sure why. I will check the reports when I get home (I am at work now).

What is DOFD?

Do you have your reports when it was reporting?

Anonymous · ‎07-22-2008

I think so ....I pulled them in June and I think that the OC was on all of them and then I got an email about some updates to my report and logged on and it said that the OC was deleted. I'm not sure if that is because the CA who bought the account just started reporting.