Discover Card-Nice Offer

**BIGTONY1213** · 05-16-2011, 09:49 PM

I got a callfrom Discover Card today. I have a balance of ( 14,376 ) they told and gave it to me in writing they would except ( 5750 ) for payment in full.

best part, the letter says no 1099-C and account would show paid in full.

And I have 6 months 958.46 for six months and done...

Savings of 8625.00

**lparker** · 05-17-2011, 05:34 AM

and if you're late or miss a month you are back where you started with total due at the highest interest rate they can charge and no more negotiations. Make sure you can follow through.

**khaski** · 05-17-2011, 08:06 AM

Hold onto that paperwork til the end of time

**Contrary Housewife** · 05-17-2011, 10:03 AM

I would jump on that offer *IF* you get it in writing. Don't write the check until you see the letter. CC collections people lie over the phone all the time.

**BIGTONY1213** · 05-17-2011, 11:20 PM

I have the letter in hand, and yes I will save it until the end of time.. I thought it was a positive...

**NikoSan999** · 05-18-2011, 07:21 AM

Don't trust it.
Is this a card you weren't paying, late on etc?
We've been thru this with Discover before and this isn't like them to do this.
If you weren't behind or had been making payments then I'm betting it's not real. It takes 6 months of making NO payments whatsoever for the company to write it off.
For them to say they weren't going to issue a 1099c....hmm...THAT in particular I don't believe.
The 6 month part....they have never given more than a very short time to come up with pay off money.

We dealt with them for close to a year on repayment and it was thru a collection agency working for them. They, themselves, did not do paydowns/payoffs...it was farmed out. It started out at 6 months then the terms changed...

What does the header on the letter say who it's from...can you give more information about the letter particulars?

There words on a write down were...if you can come up with that amount of money why shouldn't we think you could come up with another couple of thousand. In the end after digging for a thousand to start it they set up payments for 6 months. Don't trust them.

Really curious about the whole letter here. Not like them...not at all. Especially the no 1099c.

We eventually ended up filing bankruptcy and the headaches ended with them and the rest. So don't know what would have happened at the end but don't trust them...I honestly don't believe it...again, can you give more details about the header on the letter etc.

**BIGTONY1213** · 05-21-2011, 07:01 PM

They said the account is about to charge off ? I have the letter from them, how can they put it in writing and if I back up my end ?

**frugal-fannie** · 05-21-2011, 09:19 PM

I would call discover and make sure it is legit. I thought they were required to give you a 1099. It doesn't hurt to check. So many scam artists.

**NikoSan999** · 05-21-2011, 09:44 PM

Originally Posted by BIGTONY1213

They said the account is about to charge off ? I have the letter from them, how can they put it in writing and if I back up my end ?

Charge off is they are writing it off as a loss for tax purposes. This is done if you do not make one penny payment for 6 months...the first time you pay one red cent on the bill it starts the time all over again. To me....NOT a good thing..then it all starts all over again. 6 more months of hell.

They are also REQUIRED to send you a 1099c by law.

Once they write it off it goes to a collection agency. They have a few they use. The collection agency will also undoubtedly make an offer. If you go this route decide what is the most you will pay and stick to it. They will always go higher...they actually said to us if you can pay x amount of money then you can pay z amount of money. This is because they get a percentage of what they DO collect.

Maybe something has changed in the last couple years since it happened to us. Don't think the 1099c has tho. I do believe it's law and if they lied about that they would lie period. As Dave Ramsey says, " If their mouth is moving, they're lying."

I'd be more apt to believe it if they offered a one time lump sum and a short time period to be paid in.

Also after it is written off they ( Discover ) will not talk to you again on the phone. It will all be done by the collection agency.

Whatever you decide good luck. We dealt with 2 different agencies with them...when it was taken away from the first one the guy I had dealt with was ticked to the rim. He talked...and talked. Learned alot from him and in the end he said if I had any questions or needed help to call him.

If it were me...I would call Discover AND also the number on the paper and find out all I could. Have a list of questions and write it down when they answer. Course if it were me I'd record it and tell them I was recording it. Who talking to, date time etc. Then they would probably not allow it either. Wonder why....CAUSE THEY'RE LYING

**frugalfranny** · 05-22-2011, 02:39 PM

Originally Posted by Contrary Housewife

CC collections people lie over the phone all the time.

YEP.......they do. I worked for one, for a time. Wasn't making the
calls but was in the same room and heard the CRAP and the
threats.

GET EVERYTHING IN WRITING!!!