Debt Settlement Purgatory – Part 2

If you are new to the blog, click HERE to start at the beginning of my story.
POST #24
Still in purgatory……

200m
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I made another pro-active call to the Recovery Department and this time I got a different answer.
They said the acct wouldn”™t reach their dept until I stopped making payments on my settlement with the collections department.

WHAT???????

I clarified that I had NOT accepted their settlement offer of 60%, per my discussion with collections on 12/16.  I reiterated that I could borrow $20k from a family friend to settle both accts.
“Let me see what I can do” The rep seemed eager and put me on hold.
At that moment, I was very hopeful.  My offer was going to the manager who would be yet another person in the recovery department aware of me and my case. I found that familiarity is a big factor in the success of debt settlement.  Unfortunately, the manager said we had to wait.
But this call still had merit. The rep promised to make sure collections corrected my account to reflect that I had not accepted a settlement yet.
It’s a good thing I caught this.  Had I not, this would have delayed my account further.
I waited another 2 days and called the recovery department again. It was 12/24, the day before Christmas. Just a month ago, my call the day before Thanksgiving resulted in a great settlement. Perhaps the timing of this call would have the same effect.

…..and it did!!

The rep asked me if I was waiting for the account to charge off. I confidently said I was not waiting for anything. The notes on my account should reflect that I am actively trying to make a good faith payment to you ASAP.  This rep said this:

  • Your account is in the process of charge off.

  • It should happen by Monday, 12/28.

  • Call me after 10AM PST Monday at my direct line.

  • I will gather info, talk to sups and be ready to handle this.

BOOOOO-YAAAAA!
I finally had a hard date. I found a person who wanted to work with me. He gave me a day and time to specifically call him to settle this account. It was Christmas eve.  It felt like I had been given a great Christmas present.
With a little patience, I would be a new man.

Xmas tree
Image via Wikipedia

Stay tuned. Stay afloat. Wealth and freedom are in your future.
Jonathan

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Debt Settlement Purgatory – Part 1

If you are new to the blog, click HERE to start at the beginning of my story.
POST #23

Lost title card
Image via Wikipedia

What is debt settlement purgatory?  It’s kind of like the sideways time line in the final season of “Lost“.  Confusing, frustrating, but does ultimately lead to nirvana. My account had left the Collections Department, but wasn’t yet in the Recovery Department.
Apparently, there is a dead time after collections but before recovery. The account is technically charged off, but doesn’t appear in any particular department. It’s like when you send an email and it leaves your sent box but never hits your outbox.  You know that just a moment ago it DID exist, but due to technology, you can’t find it. Well, this was a nut to crack. I had come this far and wasn’t going to let the critical last 2 weeks of the year get away from me.
Someone would have the answer. Someone would be able to wrangle my account. I just hadn’t found that person yet.  Where was my Jacob?  But remember what I had said at the beginning of the journey:

TENACITY AND HARD WORK

So I put my nose to the grindstone and called, and called, and called again. I kept telling my story over and over to rep after rep. I kept getting the same answers over and over again, “I am sorry Mr. Grossman, your account is not in my dept. It is on its way to the recovery dept, but won’t show up on their system for another day or so.”
According to the Recovery Department, the absolute latest it would hit them was 1/1/10. But that would be the beginning of a new month and a new fiscal year and this would likely hurt my negotiation.
It went on and on like this for 10 days. I had prepared myself for the big day of settling these 2 enormous accounts.  Settling $100,000 seemed almost within my grasp. I could taste the relief. Each day I woke up, I said to myself, “This is the day!”  I would get all amped up and prepared, then make the call only to find that I had to wait another day.  Time was getting thin.
It was December 22 – dangerously close to December 31st, the end of the year.
How would I get “unLost”?
Stay tuned…..
Jonathan

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