I’ve sent the letter back to them with a note (well, it goes out in the morning) because I figure if there is a problem, they’d like to know about it.
The letter says that I owe them $1,937 dollars, and they’re willing to settle the debt for $900 if I pay by 12-18-03, and I’ll never have to worry about it again. That sounds nice, doesn’t it? Except my actual balance is less than $650 (going by this month’s statement- in dec it was a something over $700.) Naturally, I was disinclined to accept their proposal.
Which do you think is more likely: someone made a big mistake by sending this letter with the wrong balance on it OR is someone trying to pull a fast one? It is their stationary, with the same address as the statements, which is why I’m sending it to them to look at- if there’s a scam afoot it looks internal.
What you received (assuming the instruction was to pay the CC company, not a third party) is a standard pitch for Charged-Off “deadbeats”.
This could get nasty - hold onto every scrap of paper (ESPECIALLY that offer) related to that account - all statements, original agreement (if you can find it).
Demand that they correct their records to show that your account is current, and MOST IMPORTANTLY - they retract any reports made to credit-reporting agencies.
Then check you credit report - if they have recorded a charge-off, your credit is dead. See a lawyer re. libel action if they do not fix this IMMEDIATELY.
The thing is though, I get statements from them about my balance, and they show the correct balance (two newer than the letter, and all the past ones etc) and there are no problems with them since I pay them every month. This is the only thing to ever show something three times the amount I owe them. If the most recent statements reflected this “new” balance, I’d be concerned, but they don’t.
Someone’s finger could have hit the wrong key and sent this to your account# instead of the correct one.
I would not take this lightly, for the reasons Extraneous outlined above. I’d be more inclined to call them and get to the bottom of this at once. I don’t think it’s a scam, but a mistake on their part could be big trouble for you.