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maddison66
02-11-2008, 04:06 AM
I've posted about this issue on other boards, so I'm over here to get some debt settlement advice.

As of yet, I have not been contacted by the CA concerning this debt. I found out from Ford Motor (OC) that the debt was sent to Weltman, Weinburg & Reis (CA).

The debt is for $5000+ on a '98 Escort that has been totaled. Knowing that the CA purchased this from OC for pennies on the dollar, I would like to settle so I can get the title and dispose of the vehicle.

1. Would it be unreasonable or would it be stupid to contact CA and offer to settle in return for the immediate turning over of the title? I have enough funds to offer a small settlement, but I don't want to seem as though I am desperate.

I understand that to a certain extent, time is somewhat on my side, but I would like to be rid of this entire issue.

2. Would it be unreasonable to contact OC and request that they take back the file so that we can discuss settlement?

This debt dates back from 2002, but I never received any notification from OC about the debt. I only found out about it in August '07, which is when Ford Motor sent it to the CA. I was notified about 3 weeks ago that the debt was sent to the CA in 2007.

Any advice that can be offered would be appreciated. I could get an attorney to handle this for me, and that may be the best option at this point, but I'm not too sure about that either.

Thank you all in advance...
willingtocope
02-11-2008, 04:41 AM
If Ford still owns the debt, call them and see what you can work out. Just because its "been sent to" a CA, doesn't mean they bought it.
kb9tbq
02-11-2008, 04:41 AM
If the creditor still owns the account, it is best to go back to them to settle and get the collection agency retracted from collecting on the account.

If it is with the collection agency, and Ford no longer owns the account, then you should send the collection agency a debt validation letter. If they verify then offer them settlement for deletion of the account.
maddison66
02-11-2008, 04:59 AM
If Ford still owns the debt, call them and see what you can work out. Just because its "been sent to" a CA, doesn't mean they bought it.

willingtocope - I've spoken to Ford and was told that its been sent to the CA and they do not have the file any longer, so I will need to deal with the CA from this point forward.

I'm going to call an attorney today and have him deal with it if his office is willing to take this case on.
maddison66
02-11-2008, 05:07 AM
If the creditor still owns the account, it is best to go back to them to settle and get the collection agency retracted from collecting on the account.

If it is with the collection agency, and Ford no longer owns the account, then you should send the collection agency a debt validation letter. If they verify then offer them settlement for deletion of the account.

kb9tbq - this debt has not been reported to the CRA's, so deletion isn't an issue at this point. I'm not sure how long it will stay that way, but I'm not going to worry about something that hasn't happened yet.

I've been tossing this one around all weekend as far as what to do...
Contacting an attorney is looking like the best option to resolve this issue ASAP.

I've noticed that sometimes siccing an attorney on the CA's helps.