DW got settlement offer

[Tibsy]

My DW has an old Verizon bill from around a year ago when she ported out. She never paid the ETF. For a while Verizon tried to get her to pay, then forwarded it onto a CA.

 

Verizon was still holding the debt so we DV'd the CA and then never heard anything for awhile. This new CA called last week and she said to contact her via mail because the debt was being disputed.

 

They called her today with a settlement offer which she asked for to be mailed. They insisted they don't do mailings anymore but emailed her a PDF letter that was signed by someone in the collection department.

 

I can't find if this CA is licensed in IL or IN. And as far as we know, "Chase Receivables" doesn't show up yet on her reports.

 

Should she pay, or hold off for a better offer?

 

CHASE RECEIVABLES 
A PROFESSIONAL COLLECTION AGENCY 

[Date]

[DW's info]

RE: VERIZON WIRELESS­
CHASE ZZZZZZZZZ CLIENT#XXXXXXXXXX
AMOUNT REFERRED: $447
CURRENT BALANCE: $528 

DEAR DW, 

THIS LETTER SERVES TO INFORM YOU CHASE RECEIVABLES AGREES 
TO ACCEPT  $370 To SETTLE THE BALANCE. WE ARE 
NOT OBLIGATED TO RENEW THIS OFFER. 

IF THE ACCOUNT IS PAID BY GUARANTEED FUNDS IT WILL BE CONSIDERED 
SETTLED THE DAY THE PAYMENT IS RECEIVED. IF THE ACCOUNT 

IS PAID BY CHECK THE ACCOUNT WILL NOT BE CONSIDERED SETTLED 
UNTIL THE CHECK/ELECTRONIC DEBIT HAS CLEARED THE BANK (THIS 
PROCESS CAN TAKE UP TO 30 DAYS). 

SINCERELY

[signature]

COLLECTION DEPARTMENT

THIS IS AN ATTEMPT TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL 
BE USED FOR THAT PURPOSE. THIS COMIVIUNICÄTION IS FROM A DEBT COLLECTOR. 

Tennessee: This collection agency is licensed by the Collection Service 

Board, State Department of Commerce and Insurance.

Edited June 21, 2012 by Tibsy

[distantarray]

paid collections is often just as bad as unpaid collections if it's reporting, but I would send a DV prior to doing anything along with a 623 request for investigation to the oc.

 

 

 

 

[Tibsy]

It's gotten to the point we keep spending all this money on green cards that the DW is considering paying the collection.

[distantarray]

It's gotten to the point we keep spending all this money on green cards that the DW is considering paying the collection.

 

spending money on Green cards $6 at a time vs potentially spending extra $100-200 a month on a future mortgage is upto you. regardless how many accounts do you have that you need to spend to get fed up with spending money on green cards? I only spent probably $120 on green cards to date. Not bad considering I had over 200 point increase.

Edited June 21, 2012 by distantarray

[AshCas]

If you choose to settle, make sure they report as PAID IN FULL. Although it doesn't make a difference in scoring, Paid In Full looks better than Settled under manual review.