PFD after receiving a settlement offer? Is it too late?

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This topic contains 0 replies, has 1 voice, and was last updated by  davefollmer 7 years, 7 months ago.



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    davefollmer
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    I attempted to search the forums before asking, but couldn’t completely answer my question, so I wanted to reach out for some help.

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    The story in a quick nutshell:

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    – For several months, I’ve been receiving “unknown” phonecalls throughout the day. *Since they typically were 9am-9pm (and I, unfortunately, have a history of dealing with CAs), I figured that it was a “bill collector”.

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    – After recently deciding to finally get a grip on things and try to stop the bleeding and actually fix my credit, with the goal of buying a house in the next 18-24 months, I finally answered one of the calls last week.

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    – The man that I spoke to was from MCM and was calling about a legit debt – a Capital One balance of $850 that they purchased.

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    – The man was pretty polite, and despite his strong accent, made an effort to be very clear.

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    – He offered me a settlement of 40% off the original balance and that the account would be listed as “paid in full”.

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    – While I didn’t accept the offer immediately – I demanded to get all of the details in writing (letter arrived today) – I probably did acknowledge the debt, at least within the realm of legalspeak

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    My question is this – Is it too late to counter offer to pay the total balance for deletion? *How should I go about doing so? *The payment due date on the settlement letter that I received is a few days away.

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    I’m in a position to pay in full, but don’t really see the point if it is going to result in the same situation as accepting their settlement offer. *In your experiences, do I have any leverage here? *The person that I spoke to was very adamant that by accepting the settlement, that the account would be reported as “paid in full”, but I now understand that this really doesn’t make much difference to my credit score (although it is being factored into my utilization, so a $0 balance will help me somewhat).

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    Any advice would be appreciated!

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