Question for anyone that successfully got an OC to recall a debt from CA [boa] [money]

How did you do it? Do you write a letter to settle with a lot to call you? How did you do it?
I tried again by calling BOA and they said no. They offered me a settlement right before recharging, but I could not come with all that money and it pays off, now I can, I would try it again. Should I write or call again to ask someone higher?

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Reply: Much depends on whether it is placed paper or whether the debt was sold. If the debt was sold, there is generally no incentive for the OC to repurchase the claim. Further, little incentive exists even if it was only placed. IF it is to occur, it will generally require a significant percentage of the debt in question being offered in lump sum…after all, to the OC, the time to make payments or payment arrangements has LONG since passed.
It is placed, not sold. I asked the OC.
I planned to send a letter offering a lump sum settlement of what they offered me right before charge off.
is this a reasonable way to proceed?
Send the letter to the executive offices with SPECIFIC information about the account. The basic customer service address will generally get NO meaningful response.
QUOTE one other question.
if the debt is placed with a CA, the OC is the one reporting it as a charge off on my CR, if I pay the CA, does the money go to the OC?
Some of it will in a contingency situation…just how much depends on their contractual arrangements.

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Reply: Much depends on whether it is placed paper or whether the debt was sold. If the debt was sold, there is generally no incentive for the OC to repurchase the claim. Further, little incentive exists even if it was only placed. IF it is to occur, it will generally require a significant percentage of the debt in question being offered in lump sum…after all, to the OC, the time to make payments or payment arrangements has LONG since passed.
It is placed, not sold. I asked the OC.
I planned to send a letter offering a lump sum settlement of what they offered me right before charge off.
is this a reasonable way to proceed?
one other question.
if the debt is placed with a CA, the OC is the one reporting it as a charge off on my CR, if I pay the CA, does the money go to the OC?

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Reply:Much depends on whether it is placed paper or whether the debt was sold. If the debt was sold, there is generally no incentive for the OC to repurchase the claim. Further, little incentive exists even if it was only placed. IF it is to occur, it will generally require a significant percentage of the debt in question being offered in lump sum…after all, to the OC, the time to make payments or payment arrangements has LONG since passed.

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Reply:I actually managed to do it twice. I guess I got lucky

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Reply: The only time I was successful is having it pulled was when it was sent in error. (i.e. a fraud account).
It's very rare they pull it back unless they are at fault.
thanks both of you for the replies
I was hoping BOA would pull it back, they seem stubborn about it. the CA they put it with has not contacted me only once with the original letter, no phone calls, nothing.
I want to offer to settle, but don't know if I should send it to BOA or directly to the CA.
does the CA have to check with BOA on the settlement amount, or are they free to agree or disagree arbitrarily?

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Reply:I have a fax from the OC that I tried to use against the CA and they said that is a lot of money to let go. I used the fax through the CRA, but they still need CA approval. They said if that doesn't work contact the BBB or Attorney General. Basically the CA runs the game here.
The fax from the OC states an error and that it should be deleted.

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Reply:The only time I was successful is having it pulled was when it was sent in error. (i.e. a fraud account).
It's very rare they pull it back unless they are at fault.

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