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United Recovery Group refuses to disclose terms

Small Debt
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So I have a $8,000 credit card debt. URG is trying to collect and we settle for $2,000 with 12 month payments.

I asked for the terms to be disclosed and they only tell me the terms over the phone. URG sent me a letter and it only shows the amount broken down to 12 payments. Should I refuse to proceed unless I have the terms on paper? Meaning if the payment was late that they can cancel the settlement, etc.

I really think that a 25% settlement is pretty good and just wondering if it's too good to be true meaning after 12 months will URG keep their word and zero out the account and settled showed on the creditor end.

Any input from the expert is most appreciated.




If the letter states that the 12 on time payments constitutes settlement, that will hold up in court. If you are late, the agreement is voided...they do not have to state that.


Sub: #1 posted on Sun, 07/21/2013 - 06:54

SOAPLADY SOAPLADY
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Meaning URG is an entity that really work? Meaning not flaky representing Chase, etc? Are there member here used them?


Sub: #2 posted on Sun, 07/21/2013 - 08:26

Unregistered


Did you call chase to verify the placement??? Do a DV before setting up a settlement????


Sub: #3 posted on Wed, 07/24/2013 - 03:16

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17209 | Credits: 4746.15)

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