Barclay charged off account placed with Lcd Financial service ?

[icloud987]

Thank you .

Does that 65% still apply if I don't have a job and income? I told the LTD I don't have jobs or income. I was expecting them to offer 35-45% as those are the numbers I saw here, but I don't know how old their debts were to get those numbers.

[Red1Blue]

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@icloud987 wrote:

Thank you .

Does that 65% still apply if I don't have a job and income? I told the LTD I don't have jobs or income. I was expecting them to offer 35-45% as those are the numbers I saw here, but I don't know how old their debts were to get those numbers.

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If you dont have job or income why not focus on getting a job and income instead of blowng away your money on settlemnts. What if you need money for emergecy purposes? I dont think collection companies care about your job or income when trying to make settlements.

[icloud987]

Can I ask you one more question? Since LTD hasn't contacted me and I contacted them first, after Barclays trek America (something like that) told me to contact LTD regarding the debt, if I were to settle with LTD, should the first step be to ask LTD to send me a DV letter and then a settlement offer in writing, only after I receive both , it would be safe to pay ?

Or I can skip the DV and just get a settlement offer in writing?

[icloud987]

I thought without a job or income, they would lower their expectation and offer a lower settlement number? I am still in school, getting some skills before I can get a job. My family would lend me some money to settle. I guess I just don't want to have to worry about it every day. See many posts about people getting sued or getting bank account levied, it seems too scary. 

[Anonymous]

I think the advice above is correct - they likely won't care about your employment status. In their view, it's a valid debt that's owed and they want their money. I agree that 65% would be a solid discount with as new as the chargeoff is. If you hold fast to that number every time you talk to them ("I'm not working - this is it, all I can pay. Can't get blood from a stone.") they may bend in time.

True too that keeping a roof and food is more important until income starts back up.

[icloud987]

Thanks, everyone for taking the time and providing me your advice. 

I read it all and appreciate it all. I will think about what is the best action I can take.

I feel this amount is high, compared to chase's recent charge off, chase offered 35% without negotiations.

If i ever were to settle with LTD ,do I need to get a DV first ? Barclays told me they hired LTD to collect .

[OmarGB9]

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@icloud987 wrote:

Thanks, everyone for taking the time and providing me your advice. 

I read it all and appreciate it all. I will think about what is the best action I can take.

I feel this amount is high, compared to chase's recent charge off, chase offered 35% without negotiations.

If i ever were to settle with LTD ,do I need to get a DV first ? Barclays told me they hired LTD to collect .

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Not all creditors are going to go as low as Chase. You really can't compare one to another. Especially when the debt is pretty recent.

DV is useless and they aren't required to even respond to it, unless sent within 30 days of dunning notice. Even then, all it does is place a cease collection bar on them until they provide that. But again, that's only if sent within 30 days of dunning notice, or initial communication notice.

[icloud987]

Thanks for commenting . "DV is useless and they aren't required to even respond to it, unless sent within 30 days of dunning notice. Even then, all it does is place a cease collection bar on them until they provide that. But again, that's only if sent within 30 days of dunning notice, or initial communication notice."
I wasn't really focused on the cease collection part. I wanted the validation. Otherwise, it is just words I heard from Barclays that they hired LTD, I am concerned without a DV after I pay a settlement, Barclays or someone else go after me for the second round of money?

DV could at least ensure I will be paying the right party?
Is this unnecessary, or are there better ways?

[OmarGB9]

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@icloud987 wrote:

Thanks for commenting . "DV is useless and they aren't required to even respond to it, unless sent within 30 days of dunning notice. Even then, all it does is place a cease collection bar on them until they provide that. But again, that's only if sent within 30 days of dunning notice, or initial communication notice."
I wasn't really focused on the cease collection part. I wanted the validation. Otherwise, it is just words I heard from Barclays that they hired LTD, I am concerned without a DV after I pay a settlement, Barclays or someone else go after me for the second round of money?

DV could at least ensure I will be paying the right party?
Is this unnecessary, or are there better ways?

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Well not only is it unnecessary, but like I said, if it's past 30 days since initial communication, they can literally just choose to ignore it. They *may* respond, but they don't have to.

If you're scared about them not honoring their word, then get whatever settlement offer/payment arrangement you worked out with them in writing prior to payment.

[icloud987]

Thank you again. I will get it in writing . 

I was going to send the DV request within 30 days if I chose to do that .