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settle w/Verizon?

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Question arises after reading through the archives on the verizon subject... my debt to them is about $4K (long story :good: ) ..... now it was transfered to coll agy... I would entertain in settling .25 on the dollar? Will they settle that low on a 3 yr debt? It would show on my cr report as settled, so that might be a problem as well....

 

I haven't tried to dispute it yet, as I dont want to wake them up, LOL.. .the only attemp to collect have been a few letters (about 4-6) in the last few yrs... but reading the archives it seems that if I take care of this my scores could go up 50+ ??

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sol! id leave it alone for 3 more years, especially over that debt amount....might get them sue hungry :clapping:

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Question arises after reading through the archives on the verizon subject... my debt to them is about $4K (long story :rofl: ) ..... now it was transfered to coll agy... I would entertain in settling .25 on the dollar? Will they settle that low on a 3 yr debt? It would show on my cr report as settled, so that might be a problem as well....

 

I haven't tried to dispute it yet, as I dont want to wake them up, LOL.. .the only attemp to collect have been a few letters (about 4-6) in the last few yrs... but reading the archives it seems that if I take care of this my scores could go up 50+ ??

 

If you don't plan on buying a house before it's 6 -7 yrs old, let it go. Scores on settled accounts ago up a little, but not a lot unless you PFD and they are very unlikely to do that on a 25% settlement. I wouold not settle just to raise my score though, unless seeking new credit.

 

If you are planning on buying a house, you may need to settle it to get a loan and under those circumstances, less likely to get a low settlement.

 

It's hard to say if the CA will settle for that amount - if they know you need to settle for a mortgage, they will not.

 

Before you try to settle, you need to DV - although if you really want to settle for a low % and know they can validate, you may want to skip the full DV and just ask for an accounting (if different than what verizon said) and proof they are the proper people to pay - you don't want to agitate them and make them think you are using DV to get rid of them. And if they can validate, they could try to sue (and win if your SOL is not up yet).

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If I had a in-statute $4000 debt, I wouldn't be sending them letters or calling or disputing it at all.

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I am planning to purchase a property in 1-2 yrs, no later. So sooner or later I am going to have to settle the account. That is what I am afraid of, I dont' want to wake anybody up and they decide to sue me... if they prove the debt, after I dispute it, then it might be hard to back down and offer a settlement.

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Ok, this is back on my plate :( ... I have to purchase a home by end of the year or next year, so have to address this.

 

It seems I shouldn't just dispute it with cra??? with a typical dispute letter? Date on cr report is Feb 2003.

 

It is with Midland collection agency now.

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.

 

Before you try to settle, you need to DV - although if you really want to settle for a low % and know they can validate, you may want to skip the full DV and just ask for an accounting (if different than what verizon said) and proof they are the proper people to pay - you don't want to agitate them and make them think you are using DV to get rid of them. And if they can validate, they could try to sue (and win if your SOL is not up yet).

 

So ask CA to validate(prove) first or verify(confirm)? Direct to CA or CRA?

 

By what I hear, the way Verizon keeps records, I am thinking it might be likely they will prove its valid :( .. They haven't filed suit since the start of this 3 yrs ago or so. What are they waiting for?

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What are they waiting for?

 

You applying for a mortgage - Ask me how I know that? :(

 

Anyway, be prepared - if you do DV, you will receive in the mail directly from Verizon every single 10 inch bill in separate envelopes that account for the balance. Verizon doesn't settle and it's most likely the CA is only assigned the account, doesn't own it.

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Before you do anything make sure it is SOL if you D/V you may wake a sleeping giant if it is for sure SOL then do a D?V

 

To whom it may concern

 

In regards to the above mentioned account (only put the account numbers that appear on your report if it looks like this 123456xxx then put that there) I dispute this debt and and amount and request full and complete validation per the Fair Debt Collection Practices Act and all applicable state laws.

I also request that all communication be by US mail as it is inconvenient to accept calls

 

Thank you

 

alexplantman

 

do not sign it.

 

Then wait.

Edited by screwedbysears

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Ok, this is back on my plate :angel: ... I have to purchase a home by end of the year or next year, so have to address this.

 

It seems I shouldn't just dispute it with cra??? with a typical dispute letter? Date on cr report is Feb 2003.

 

It is with Midland collection agency now.

 

 

I know you won't listen to me, but verizon WILL screw you it's PFD in WRITING or NOTHING at all..

 

Don't support these actions, show them that they they will lose money.

 

Pure_FicO

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Pure, so send the letter mentioned or what?? Only option is pay in full for deletion? I mean this, among 1-2 other much smaller issues on cr report are even hurting when I rent now.... If I go with a subprime on the mortgage next year they won't count it , but I'll get nailed on interest. So sooner or later I have to make a decision...hopefully not have to pay in full...

 

Cliff's notes: so if they won't delete unless pif, what next? Send letter mentioned?

 

thanks

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Pure, so send the letter mentioned or what?? Only option is pay in full for deletion? I mean this, among 1-2 other much smaller issues on cr report are even hurting when I rent now.... If I go with a subprime on the mortgage next year they won't count it , but I'll get nailed on interest. So sooner or later I have to make a decision...hopefully not have to pay in full...

 

Cliff's notes: so if they won't delete unless pif, what next? Send letter mentioned?

 

thanks

 

 

Firstly stop and think about what you are doing...;

Unless you get a PFD and it does get deleted, there is no way your score is going up 50 points. While I am no expert I would bet money it goes down.. Here is why..

 

Pay Status: >Charged Off as Bad Debt<

Account Type: Open Account

Responsibility: Individual Account

Date Opened: 03/200X

Date Closed: 02/200X

Date Paid: 11/200X

 

 

Loan Type: Utility Company

Remark: >Profit and loss writeoff<

Estimated date that this item will be removed: 06/2011

 

Does that look like it helps my wifes credit any???

Hell I am getting ready to sue them..

 

Absolutley not, it actually hurt it quite bad, no PFD, NO PAY! Period!

If you don't pay you pay higher interest, if you do pay you pay the same interest or higher.. Gimme a break..

Verizon is evil, let's smack them in the face with their own game.

 

Pure_FicO

 

P.S. They promised to delete this..?

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Pure, so send the letter mentioned or what?? Only option is pay in full for deletion? I mean this, among 1-2 other much smaller issues on cr report are even hurting when I rent now.... If I go with a subprime on the mortgage next year they won't count it , but I'll get nailed on interest. So sooner or later I have to make a decision...hopefully not have to pay in full...

 

Cliff's notes: so if they won't delete unless pif, what next? Send letter mentioned?

 

thanks

 

 

Firstly stop and think about what you are doing...;

Unless you get a PFD and it does get deleted, there is no way your score is going up 50 points. While I am no expert I would bet money it goes down.. Here is why..

 

Pay Status: >Charged Off as Bad Debt<

Account Type: Open Account

Responsibility: Individual Account

Date Opened: 03/200X

Date Closed: 02/200X

Date Paid: 11/200X

 

 

Loan Type: Utility Company

Remark: >Profit and loss writeoff<

Estimated date that this item will be removed: 06/2011

 

Does that look like it helps my wifes credit any???

Hell I am getting ready to sue them..

 

Absolutley not, it actually hurt it quite bad, no PFD, NO PAY! Period!

If you don't pay you pay higher interest, if you do pay you pay the same interest or higher.. Gimme a break..

Verizon is evil, let's smack them in the face with their own game.

 

Pure_FicO

 

P.S. They promised to delete this..?

 

 

Listen to PureFico. He knows what he's talking about here. :blink:

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I don't see much talk about verizon settling on these issues.

 

They don't, that's the problem, they want money and suffering.. Sorry but with me, you can't have both without me repelling some pain and suffering right back atcha.. ( Meaning the collection agencies )

 

Pure_FicO

:D

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BACK AWAY. Slowly, quietly. Pretend you didn't even think about it.

 

If you're not prepared to suffer the consequences, for F's sake don't step on the snake.

 

I'd recommend pulling a FULL credit report. Check if they've made any soft inquiries lately. They're likely keeping up with what you're doing -- don't think for a second that they aren't.

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With the help of this board, I have cleaned a bunch of chocolate off my credit in the last year or so. I left the tougher ones to the end... Unfortuntely the end is here (or fortunate , however you see it :search: ).... I am left with the repo issue and this.

 

Before I buy my property, I am going to have to rent for another year.. This means they pull credit and when the see verizon in collection for $4K and the collections for the car for $19K... they run or they nail me with deposit :dntknw: ...

 

I see your point that the score might not neccessarily go up... but if they are undisputable, I am going to have to change course and see if I can set up a payment plan, that won't hurt my pocket... They must be collecting from some of their former clients and I am sure not everyone has $4K to pay them at once :dntknw: ...

 

I am going to do a search on a payment plan....

 

The last letter I got from the collection agency it says its from Truelogic, but personal owner is listed (as it shows on my credit) as Midland. This letter, dated May 06 they were offering a $3.8K settlement from the original balance of $4.8K... so it seems they do settle some. Unless the $4.8K included some collection or other fees tacked on. The letter states Midland OWNS this paper...and my credit report says Verizon WROTE if off.... so what claim to negotiating or settlement can Verizon have?

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The last letter I got from the collection agency it says its from Truelogic, but personal owner is listed (as it shows on my credit) as Midland. This letter, dated May 06 they were offering a $3.8K settlement from the original balance of $4.8K... so it seems they do settle some. Unless the $4.8K included some collection or other fees tacked on. The letter states Midland OWNS this paper...and my credit report says Verizon WROTE if off.... so what claim to negotiating or settlement can Verizon have?

 

People usually don't listen, you are going to PAY for punishment..

But I don't think Verizon and the CA can exsist at the same time for the same account. So IF the CA shows up on your CR. The first thing I would do is force Verizon off, then I would get a PFD from the CA.

That is your ONLY prayer.

 

Pure_FicO

 

P.S. I can beat you, kick you, spat on you, take lots of money for you if you want to pay me for it? I could use the money!

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Anyway, be prepared - if you do DV, you will receive in the mail directly from Verizon every single 10 inch bill in separate envelopes that account for the balance. Verizon doesn't settle and it's most likely the CA is only assigned the account, doesn't own it.

he's right!

 

I didn't realize it, but now I realize that the 10+ old verizon bills I ot in teh mail yesterday, were the result of my DV to the CA over a month ago

 

I want to know what will happen now, will the CA start calling again?

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If you issued in your DV to NOT be called, then hell no they better not call. Start writing down when they call, if they do. Violation Violation Violation!

 

If you got validated, then its your call. If you CAN pay, then you're obligated by your own agreement to pay it. Whether or not you do is on your own terms, but if you're within SOL theres no reason not to sue you.

 

If its yours, its time to pay. If you somehow managed to get 4000 dollars under the water with a cell phone bill, that implies to me that at least a considerable percentage of the bill you did to yourself, somewhat knowingly. I'm not a big fan of collections or paying outside agencies. But, if they didnt violate the law and gave you what you wanted/needed, then you're obligated.

 

Personally, I'd spin this AROUND. jerk your score up pretty good (650+) with new accounts and such and offer to do a full pay off (with a balance xfer check, perhaps?) in exchange for a PFD. Hell, toss in 9.9% interest for the life of the term of the amount thats been validated as yours to pad the deal for them. Ive had success with this.

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Ok, this is back on my plate :good: ... I have to purchase a home by end of the year or next year, so have to address this.

 

It seems I shouldn't just dispute it with cra??? with a typical dispute letter? Date on cr report is Feb 2003.

 

It is with Midland collection agency now.

 

Vzw is a hard company to fight i have two issues with verizon wireless, 1: several years ago i had a consumer plan with them and ended up owing aroung 400 with early termination fees, which i never paid. i tried negotiating with them to no avail for 50%. I tried val and verifying. they provided all the information immediately that i requested even later when i tried with the CA. 2: i now work for vzw and know how that system works, when you sign the contract with them it is captured on a signature pad and can be retreived by any employee immediately upon request. Fight the CA you'll have more luck than vzw they are a large corporation that employs too many lawyers for my taste and pretty much do everything on their part by the book. Good luck i still owe them decided to wait it out, mine will fall off my report this year unfortunately in my state they can still sue me for 3 years after that. Guess what when you work for them you get no breaks on previous bills but they do provide up to 4 phones at a very reasonable discount without performing a credit check, so there a litlle break. sincerely Good Luck and kick their BUTTS for me

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