laywerless
Junior Member
What is the name of your state?What is the name of your state? FL
Hi,
My mother and I have been battling a credit card company for at least one year trying to settle an old debt. They tried to slip one by my mom by sending a bogus settlement letter several months ago but we cancelled the check in time (etc...) We recently received a letter that Chase Manhatten bank is now the successor in interest on this Bank One debt. I thought this was a great opportunity to try again to settle with the new creditor (who is represented by Professional Recovery Services Inc.) We came to an agreement and we think the new letter is legit, but want to be absolutely sure they can't try to come after her for more money later. Here is how the letter is worded... (Plus they list the client still as Bank One)
"This is to confirm that we have been authorized by our client to accept $ (25% of original debt) as settlement in full on the above referenced account. This offer expires 5/12/05. The payment must be received in our office by the date stated. Once this is paid our client will notify the credit bureau to amend the status of your credit report. (contact information for questions etc…)"
Signed
So and so
Senior Claims adjuster
In NJ
We received this by fax on Professional Recovery Services Inc letterhead.
Will this letter hold up in court. Will they have any legal opportunity to try and collect any additional money?
As always, thanks in advance!
Heather
Hi,
My mother and I have been battling a credit card company for at least one year trying to settle an old debt. They tried to slip one by my mom by sending a bogus settlement letter several months ago but we cancelled the check in time (etc...) We recently received a letter that Chase Manhatten bank is now the successor in interest on this Bank One debt. I thought this was a great opportunity to try again to settle with the new creditor (who is represented by Professional Recovery Services Inc.) We came to an agreement and we think the new letter is legit, but want to be absolutely sure they can't try to come after her for more money later. Here is how the letter is worded... (Plus they list the client still as Bank One)
"This is to confirm that we have been authorized by our client to accept $ (25% of original debt) as settlement in full on the above referenced account. This offer expires 5/12/05. The payment must be received in our office by the date stated. Once this is paid our client will notify the credit bureau to amend the status of your credit report. (contact information for questions etc…)"
Signed
So and so
Senior Claims adjuster
In NJ
We received this by fax on Professional Recovery Services Inc letterhead.
Will this letter hold up in court. Will they have any legal opportunity to try and collect any additional money?
As always, thanks in advance!
Heather