Debt validation returned

[JF1]

Quick question, I have a collection on my CR 1st delinquency was 5 years ago. What happened was I attempted to 1-2 punch, I sent out DV to CA CMRRR. They received it on a Monday, I sent out disputes on Tuesday. On Wednesday I received the validation paperwork from the CA. They have everything from my original credit app to the signed signature on the what I received - Les Schwab. So since I didn't send out the disputes right away. I don't know what the next step would be. The original amount owed was $911.00, my contract states that every year the account is delinquent it tacks on 18% interest bringing the total to around 1500. They said If I pay in full they will remove the interest. I was thinking of sending them a PFD letter. Only problem is should I accept the $911.00 or try for half of that amount. Thanks any help is appreciated.

[diamonddan73]

I would try a PFD.

[julieann]

offer half starting out, if they dont accept try 75%, then if they still dont accept offer pay in full. Just make sure you get something in writing that they agree PFD.

[Lian]

Are you still within SOL?
A problem with a PFD for less than the full amount is that you are asking for a double-condition in exchange for payment.... both CR deletion, and acceptance of less than the full debt owed.
In my opinion, a settlement-for-less offer within SOL lowers the chances of PFD acceptance, and raises the chances of legal action to collect the entire amount. You may never even get a response to your 50% offer.
But, as with many things in the debt collection process, it is a personal risk decision to be assessed by the consumer.

[JF1]

Yes the account is still within the SOL. In WA its 6 years, I'm around the 5 year mark. I went ahead and sent a PFD letter for 330, they countered with 700 and said they contacted the OC and they agreed that the CA as well as OC TL would be deleted. Original amount owed 1500. Took about 2 weeks to hear back from them.

[Lian]

Get it in writing, and jump on it! Both OC and CA deletion acceptance is a rare commodity!