[honker73]

I have an outstanding loan from Triad Financial that was purchased by Chase Receivables.
Chase is offering me a low settlement amount.
What documentation, etc should I request to cover myself in the event that they (Chase and/or Triad) turns arond and states that the debt is not paid in full.
I have heard horror stores involving both companies and just want to get this debt paid off and move on.

TIA!

[LawResearcherMissy]

You have the settlement offer in writing, right?

Accept it in writing, noting that when the settlement is paid in full, you want a letter from them stating that the debt is paid in full and that they will report it to the credit bureaus as paid in full. Ask that they agree to this in writing. Send this certified, with return receipt.

DO NOT SEND MONEY YET. Wait until they send acknowledgment.

Save copies of everything, including your canceled check(s). When you've paid them off, remind them that they agreed to send a letter confirming that they've been paid in full, again via certified, with return receipt. When you've received the letter, save that too.

Voila, documentation.