settlement with collection agency

[johngaletka]

What is the name of your state? WI
I posted a while back and I never heard a response. I asked about the "Agreement to Compromise Debt" contract from the Credit Info Center. The question was, "who is listed as "creditor" in the contract? Would it be the original creditor or the current collection agency?
Also, the collection agency sent me a document to sign concerning the settlement. In the document it states "2. That said amount shall be paid as follows: $1,434.24 as settlement in full due on or before September 15, 2003.
Is the line settlement in full a clear indication that they can try and recover the remaining balance?

I have court on august 21st for this matter.

thanks

 

[Ladynred]

Who is the Plaintiff on the lawsuit, the original creditor or the collection agency ?

If you're trying to settle with a CA, then that's what you use in the settlement letter.

Once you settle, unless you get a 1099-C, they can and likely WILL sell the remainder to another CA and they'll be harrassing you at some point.

"Settled" also means that's how it'll show up on your credit report unless you get them to agree to 'paid as agreed' or at least 'paid' - 'settled for less than full' will do you no good, its a serious negative.

 

[johngaletka]

Platinum Financial Services is the Plaintiff listed on the Court Documents. The Collection agency is called Rausch, Sturm , Israel and Hornick a debt collection agency which is also a law firm.