We settled a credit card debt for less than the amount. They sent a letter saying "final payment for settlement of account received, settled in full. Credit Bureau report will say settled for less than full balance." We will get a 1099-C for the unpaid amount.
A few months later, we received a letter from Attorneys Hanna and Associates stating they represent the credit card company to collect the unpaid amount.
We have 30 days to respond to this letter. How should the letter read?

Because of an unfortunate situation my mnother has become a quadrapeligic and I have been her 24/7 caregiver. My credit rating took a dive and I am so far in debt. I have been threaten with judgements I cannot even afford to file bankruptcy. What will happen to all these threatening calls that I am receiving?

NPQ,

When you have a few minutes, read this..

Ripoff Report Search Results: Frederick J. Hanna & Associates

It will give you an idea about the type of people you are dealing with.

Next, I would send a VALIDATION letter to them and make them validate the debt to the letter of the law. Make sure you send it Certified Mail, return receipt requested.

Keep copies of anything / everything you get that has to do with this. If they ask you for "additional information" or to provide anything to them, do not respond. They must prove beyond doubt that you owe this, not make you prove you do not.

Hope this helps!

LG

Quote:

---

Originally Posted by npq

We settled a credit card debt for less than the amount. They sent a letter saying "final payment for settlement of account received, settled in full. Credit Bureau report will say settled for less than full balance." We will get a 1099-C for the unpaid amount.
A few months later, we received a letter from Attorneys Hanna and Associates stating they represent the credit card company to collect the unpaid amount.
We have 30 days to respond to this letter. How should the letter read?

---

Thanks LG, your info really helped. We called the credit card company and found out they never closed our account and they called Hanna and Associates. So the lady said she would take care of it but I will call her back to make sure. The balance is still on our credit report too.

You are very welcome. Glad I could help.

LG

Quote:

---

Originally Posted by npq

We settled a credit card debt for less than the amount. They sent a letter saying "final payment for settlement of account received, settled in full. Credit Bureau report will say settled for less than full balance." We will get a 1099-C for the unpaid amount.
A few months later, we received a letter from Attorneys Hanna and Associates stating they represent the credit card company to collect the unpaid amount.
We have 30 days to respond to this letter. How should the letter read?

---

LG, I had another question under "settled credit card debts" I posted yesterday. Would you mind looking at it?