I have an outstanding debt that IS WITHIN SOL until 4/2014 that needs to be satisfied before I can obtain a mortgage; this account had been charged off.
I contacted the OC to see if they would pull back the debt and deal with me directly but they refused and I was told I would have to deal with their 3rd party collector. (This info. was given to me by the department supervisor) Soooo........I contacted the CA and although they could work with me on the settlement amount, they said they were not able to authorize any deviation of reporting other than "settlement in full" and that my balance would be reflected as $0.00. I asked him if he would send me something in writing and I have included it below. My biggest concern is that nowhere in the statement does it specifically state my account balance will be reported as $0.00. Does the verbiage "settled in full" already cover this or do I need to have it specifically added to the letter? Obviously I'm concerned that some other CA will then be able to come after me to collect the portion that was left unpaid.
Please let me know if there is something else that should be added or modified. Thank you all for your support.
City State, Zip
Client: Original Creditor
Bumping for your assistance....
Cut the check baby... this will suffice as full satisfaction. Send the funds certified mail rrr. Keeep ALL documentation FOREVER, or until the SOL on the debt has lapsed. Congrats.
Seems pretty clear that it would be a done issue, keep proof of the payment & that letter in a very safe place for a LONG time.... because if it is ever going to come up it will be the day after you toss it! damn Murphy!
Thank you both for the confirmation. I'm still very new at this and just wanted to be sure I wasn't over looking something. After all the time I've spent reading on CB, I've definitely learned to question EVERYTHING a CA tell me
Thanks again for your double check!