Setting up settlement payment

[user3645]

What is the name of your state?What is the name of your state? TX

I have been in contact with a man from Sherman Acquisition who is handling the collection in my case. He is asking for me to start making payments or to counteroffer. I have told him that I cannot pay anything for two months, when my situation will improve from living paycheck to paycheck.

My plan at that time is to counteroffer with a "pay-for-delete" clause.

He is telling me that I must pay something this month, otherwise, when the case leaves his office in two weeks, someone will get the money from me, involuntarily. He suggested having me defer my car payment and give him the money instead.

What I want to do is to tell him that I will not pay any money until the counteroffer terms are agreed upon by all parties.

What do you think I should do?

Thanks in advance.

[hbreen]

First thing - communicate with any CA in writing ONLY! I would not put myself behind by "deferring" my car payment, if I were you! I would go with DV and go from there! They can't get your money involuntarily without obtaining a judgment first, which will take more time!

Hope this helps!
HBreen

[jaytee716]

I agree, don't defer your car payment. I used to work in collections and that was one of the "tactics" that we were told to use; and many collectors would use the, "If you don't make a payment this month....". The reason being, that each collector only has a certian amount of time to collect an account. If they don't collect at least a payment in that amount of time, the account would go to another collector. It sounds like the person that you are working with can tell that you have every intention on repaying the debt and dosen't want to loose the account, thus loosing a commission percentage.

[foolsmission]

It is good to see a newbie that is hip to pay for delete, but be warned. You really need to read up on Sherman. They are the Devil in my humble opinion.
This site is admittedly a rough and tumble place but you may need them with sherman [url]http://www.artofcredit.com/phpBB2/viewtopic.php?t=14012[/url]

[hbreen]

Foolsmission - I agree that they are not one of the "decent" CAs (if there are any out there!)! I had to pull teeth to get them to remove a listing on my CR that was not mine and they also tried to collect on one that was SOL on my husband. I fought them and won, but not without a lot of aggravation!

[user3645]

i appreciate the replies. actually, the guy, when he first called me, said he was with sherman, but when i call him, the receptionist says "protocol recovery".

also, what is a DV?

so basically, i should call to get their mailing address and let them know, via mail, that i will only communicate with them by mail and to request that they not contact me via phone (at work, no less) again?

sounds good to me.

[foolsmission]

Learn about DV = Debt Validation
Here is a good thread on 809
[url]http://www.artofcredit.com/phpBB2/v...t=10172&start=0[/url]
And one from CReditBoards:
[url]http://creditboards.com/forums/inde...56494&hl=savior[/url]

You might try a search on 1-2 Punch as well.

If they gave you proper notice of your right to validation then you had thirty days to respond and have continued collection stop.
If they did their part and you missed your window then all is not lost.
search for 1-2 punch.

Print this out and read section 809 (amongst others) until this over make it your bible (or second bible).