How do I respond to CA

[4duncan]

I was called today from a CA "Central Portfolio Central" Cpc I think they said their name was. This was in regards to an account I had with a credit card with Wells Fargo Bank. Due to income loss I had to quit paying.

They tried to get me to accept a settlement offer of $3,000 on what they said I now owed WFB $7500 (with interest/penalties). Of course if I had $3,000 I would still be paying on the acct. so I couldn't accept. Then they said I could put $500 down on a credit card they were showing that was active in my name (which I thought was canceled), but the balance would go back to the $7500 and we could renegotiate on a monthly basis.

They just wanted something now to show my good faith. They want to offer me this savings because it is the end of the month and they know I am a good person. If I don't commit to some kind of arrangement today then they will just have to pursue legal action and I could have a lien placed on my home, wages garnished, etc. I asked them why hadn't I received anything in the mail from them and they claimed something was sent, but I know I did not receive a letter.

I don't want to be sued and have another judgement against me. What should I do? This debt is fairly new so the SOL is way out there. I know paying them anything extends the time period and I intend to write the cease and desist letter so they stop calling me at work and home. Should I request the full validation of the debt from them? The caller hung up on me when I said I could not commit to anything today. This is so stressful, any help would be appreciated.

[chane]

Well, I would send them a debt validation and cease and desist letter, however, it may piss them off and force you to sue them. But, I would take my chances. It's something you will have to decide for yourself.

You could also try to negotiate a better settlement and/or pay for delete. The most important thing it so keep reading up and know your rights. Let them know that you know your rights and you are less likely to get screwed over and abused. Knowledge is power.