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Opinions, Advice, Suggestions,--Needed!!!
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Posted by V in SATX (207.19.134.3) on March 11, 2003 at 15:51:19:
Got a letter from a ca that is representing HFC. The letter was a settlement offer for about 70% of the balance prior to all the late fee's, over limit fee's and interest. I have been reading this forum for awhile and have asked a few questions in the past. Now that everything is probably going to start getting down and dirty I thought I would see what some of your opinions, advice and suggestons were to my situation. The cc account has not been charged off as of yet and I am assuming that this is there last effort prior to charge off. Even though we are at 210 to 230 days from my last billing showing I was late. I am not going to validate since the debt is truly ours and the ca is hired by HFC (not purchased debt) so there is a large chance that it would be validated. We really aren't in a position to come up with the money in the required 10 days either. We have been thinking that we would let it stay and take our chances. We know that if we do settle that we need to see if we can negotiate maybe a lesser percentage and also see about a positive listing on our cr. Not to mention how the clock will start all over again. Feedback on this will greatly be appreciated. Thanks in advance for your time!!
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