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My original Debt holder is Discover Card. With fees and etc, the balance owe is $17,848.95 at the end of July, 2011. I've sent CA the DV letter and they have replied back before 30 days with 5 months of statements (March-July), original application with my signature, and cardmember agreement.
What do I do now? Do I need to pay back full amount? I really don't have any money to payback and I really don't want to file BK. Is there any chance of balance reduction?
Thank you in advance.
Got a DV response from CA. What to do now?
You can contact with the collection agency and negotiate with them. You may try to settle the debt with them on your own. This is because settlement helps you to reduce your balance amount. If it seems difficult for you to negotiate yourself, then you may get help from a professional debt relief company. This company then negotiates with the collection agency on your behalf.