I would like to know the answer too. Anyone here know what is the right answer. I'll do some Googling and get back to you if I discover an useful answer. You should email the people at Discover Card as they probably know..

Hmm...I asked about payment by CC...they said no. Sounding more and more fishy, eh?.

Any point in calling Chase directly? Any such thing as a bank account that will only allow specific amounts to be withdrawn, or is that a figment of my imagination?.

Thanks!..

I would not set up a bank account. They could take money out (as mentioned in one of your previous threads) before you put money in it, besides If I remember correctly, post dated checks are actually illegal, okay maybe not illegal..

808 of Fair Debt Collection Act:.

Debt collector may not use unfair or unconscionable means to collect or attempt to collect any debt. Without limiting.

The general application of the foregoing, the following conduct is a violation of this section:.

(1) The collection of any amount (including any interest, fee, charge, or expense incidental to the principal obligation).

Unless such amount is expressly authorized by the agreement creating the debt or permitted by law..

(2) The acceptance by a debt collector from any person of a check or other payment instrument postdated by more than five days unless such person is notified in writing of the debt collector€™s intent to deposit such check or instrument not more than ten nor less than three business.

Days prior to such deposit..

(3) The solicitation by a debt collector of any postdated check or other postdated payment instrument for the purpose of threatening or instituting criminal prosecution..

(4) Depositing or threatening to deposit any postdated check or other postdated payment instrument prior to the date on such check or instrument..

But still I would not give a CA access to any checking account. Just take a peak at (Lynn's post regarding Bofa) should be on first page now again..

I would try getting a hold of someone in Executive Customer service and see if you can deal directly with Chase, and if you can pay monthly by Discover credit card and that you don't have a checking account..

The risks far out way the benefits..

This post has been edited by.

Beli.

: 05 January 2010 - 08:31 AM..

If it's not in writing, it didn't happen. If this is a legitimate settlement offer, approved by the OC then there should be no problems with putting it in writing. If the refuse, then they are probably overstepping their authority which will come back and bite you later...

How old is this debt? And you also need to negotiate for favorable credit reporting (i.e. deletion of all CA tradelines), and get it all in writing before paying (with Discover card) anything..

This post has been edited by.

Mk_378.

: 05 January 2010 - 10:40 AM..

Debt is very recent...1st late was July 2009....rapidly approaching 180 days late and chargeoff. As far as I know, debt still owned by OC. I'll try to get a delete done, but if not I won't be surprised. Worth trying though..

So it seems pretty clear that everything must be in writing, period. That and the bank account issue were the main concerns. So I'll tell them no deal..

I have another situation, where the CA has provided a settlement letter...but I need some feedback on it. Thread is here:.

Http://creditboards....howtopic=422498.

Anyone want to take a peek at that and tell me what they think?.

Thanks again for everyone's input!..

UPDATE: Got Chase on phone with CA on Friday...they OK'd settlement terms, including sending letter and amounts, etc..

So right now I'm on the phone with the CA (representing Chase OC) getting letter faxed to me, and had to ask for opinion:.

CA rep says it would be illegal for Chase to settle debt in full, and then turn around and sell remainder owed to another CA. Thus, statement about not selling debt is not necessary in the letter they are faxing to me..

I know that CA's will say nearly anything to get to your money...but is there any truth to that statement? If they do settle with someone and indicate that the debt is "settled in full", what can they legally do besides issue a 1099 for the debt they did not collect on?..

No as far as I know, there's no truth to that statement. Unless something changed law wise. Ca's are famous for selling "less then full" balance debt years/months later...

If there's "no reason to include it"...then there's obviously no damage to have them add it.....