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Got a quick question: What is the song on the current Discover Card advert? Looking forward for any answer. Second question.. Arrow dropped off my credit report but sold the account to capital management services, they are offering a settlement for $2300 for a total owe of $11k acording to them. Also the accoutn with arrow was about 7 years old when they sold it and the amount I owe was never 11k. How should I respond to them can capital management report this in my credit report and make an old account new?.. |
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I would like to know the answer too. Anyone here know what is the answer to your question. I'll do some research in Google and get back to you if I discover an answer. You should email the people at Discover Card as they probably can help you..
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Capital snagged a boatload of zombie debt from Arrow in December, it seems...
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This is a 7 year old account it seams they sold it to CM when the 7 year mark happen and arrow was dropped from the report...
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If the 7 year reporting window has expired, I'd expect the SOL on the debt has also expired but do be certain of the laws in your state..
My experience with CM was that they would call every day, multiple times per day. I spoke with them once. After that conversation, in which they offered a settlement, I sent them the FOAD letter. They have not tried to contact me since.. If the SOL on your debt has definitely expired, I would not pay them anything. They bought the old paper for nothing. It's simple speculation on their part. You owe them nothing. Send off a FOAD and relax.. Edit- Whatever you decide to do, Stay Off The Phone! Do not speak with them. All communication by mail only.. This post has been edited by. HarryB. : 14 January 2010 - 11:20 PM.. |
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Thank you, they have have call just send a settlement letter so I will send the FOAD letter ASAP. Thanks again..
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