Cavalry Portfolio Services Help

[ZKM]

First off I want to say Hello, and also add how glad I was to find this forum.
So here is my story: I lost my job and had a major move in 2009. I had 2 credit cards ( HSBC Orchard $300) and Bank of America secured $300) as well as an installment loan with Toyota Financial since 2008. I decided to prioritize my car loan (only 3 lates in 09 non since) not wanting to lose the car and let everything else go. Then in 2010 i got a really good job. But for 3 years I've been avoiding my credit report.. So last March I decided to finally take care of my past debts.
Fortunately my BOA card paid it self back via deposit and doesn't look bad aside from 3 late payments and a closed by grantor.
HSBC on the other hand inflated to $724.00, and was sold to Cavalry Portfolio Services in Jan of 2010. It's was posting at $876.00 due to interest.
I called them last month ill prepared on how to handle/ negotiate and having already settled several other debts on my report. I asked for a pfd and was told there was no way that would happen. They countered with a settle in full of $656.00, and I ignorantly accepted. The settlement was 3 debit withdrawals $256 on 3/19 $200 on both 4/10 and 5/10. On April 2 I received a letter/ bill stating I owe $619.00 still and showing that they will debit the $200 for 4/10. I must note I received No receipt for the $256.00 or the agreement to the settlement of $656.00 in this letter. Being that my payment of $256 plus $619 equals $876, it looks like they're charging me their supposed original amount. So last week I initiated disputes on the phone and in letter to the 3 CRAs using some techniques I gathered from posts here . Im hoping this works but ANY additional suggestions and help would be greatly appreciated.

I've already had 3 deletes since March I pfd and 2 via dispute.

[ZKM]

Is this in the wrong category/group?

[DaBears]

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@ZKM wrote:
First off I want to say Hello, and also add how glad I was to find this forum.
So here is my story: I lost my job and had a major move in 2009. I had 2 credit cards ( HSBC Orchard $300) and Bank of America secured $300) as well as an installment loan with Toyota Financial since 2008. I decided to prioritize my car loan (only 3 lates in 09 non since) not wanting to lose the car and let everything else go. Then in 2010 i got a really good job. But for 3 years I've been avoiding my credit report.. So last March I decided to finally take care of my past debts.
Fortunately my BOA card paid it self back via deposit and doesn't look bad aside from 3 late payments and a closed by grantor.
HSBC on the other hand inflated to $724.00, and was sold to Cavalry Portfolio Services in Jan of 2010. It's was posting at $876.00 due to interest.
I called them last month ill prepared on how to handle/ negotiate and having already settled several other debts on my report. I asked for a pfd and was told there was no way that would happen. They countered with a settle in full of $656.00, and I ignorantly accepted. The settlement was 3 debit withdrawals $256 on 3/19 $200 on both 4/10 and 5/10. On April 2 I received a letter/ bill stating I owe $619.00 still and showing that they will debit the $200 for 4/10. I must note I received No receipt for the $256.00 or the agreement to the settlement of $656.00 in this letter. Being that my payment of $256 plus $619 equals $876, it looks like they're charging me their supposed original amount. So last week I initiated disputes on the phone and in letter to the 3 CRAs using some techniques I gathered from posts here . Im hoping this works but ANY additional suggestions and help would be greatly appreciated.

I've already had 3 deletes since March I pfd and 2 via dispute.

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Hi ZKM, welcome to the forums!!!! Do you have the settlement stating it was only for $656.00?? In writing?

[ZKM]

Hello Dabears! Thanks for the response!
No all I received was a payment pending notification that stated I'd be charged $200 on April 11. It shows amount owed as $619.00 but does not show my payment of $256.25 from mid March or any agreement to a settlement amount of $656.00. $619 + $256 is my original amount owed of $876.00 to the CA. The CRAs are reporting by balance as follows updated in April EX $619 EQ $619 TU $876. which would reflect the $256 on the first two, but not having the settlement agreement is making me nervous. If there was an agreement wouldn't I get a payment notification showing I owed $400 not $619?

[ZKM]

The top of letter has balance owed $619.00
The bottom of letter has a detachable payment slip, the balance due on it is $619.00. It' seems to me there was no settlement.
So I guess in short the answer to your question would be no. That's why I feel like an idiot. I got on a roll when I started paying the 5 collections on my report (well 14 if you include the 9 on EX for different parking tickets from San Diego, whom I might add we're another I couldn't PFD ) and didn't completely think these details through with Cavalry when I was on phone.

[DaBears]

They got you good. Without a letter from them stating it was a settlement you're going to have to pay the remaining $619. My advise will be next time to get the settlement in writing. 

[fishbjc]

  Those B*******!  Of course, this is on record, but they hold the recordings.  I would give them a call and remind them of the agreement.  There is always a chance that someone overlooked it.  I wouldn't pay the balance until I spoke with them.  If they agree that you're correct...get it in writing this time.

Calvary wasn't all that difficult to deal with, but you won't know until you speak to someone.  Escale to a supervisor if necessary and be cordial.

[ZKM]

Thank you both for this info.! I buckled to fast while in negotiation. I'll save the vulgarities for another time and place! I'll try calling today, and I'll be quite the gentleman about the situation. But, if I may ask first. How will this effect my dispute with the CRA's? It's been a week.Or was that a waste of time, paper, and postage? It seems like my dispute comes down to my word vs there's.

[ZKM]

Ok. I called and spoke with the original person I settled with. He apologized for their records not being kept up to date?! and confirmed we had a settlement of $656.00.
I offered the PFD again and was turned down (honestly I really tried!) But I was able to get a PIF vs the settled in full status the catch being I actually PIF lol! The letter is being sent to me. No letter no final payment?. I really prefer paying the extra $200 in hopes of GW for delete after final payment and hoping for the best. Perhaps that's just wishful thinking? Does PIF really matter on report vs settle on report? Now I'm wondering how the dispute I sent in last week is going to pan out. I wouldn't make such a big deal of this but it's not due off my reports till 2017.