I don't see any explicit acknowledgment in there, but perhaps it could be argued as a "tacit" acknowledgment.

FCA form link (2 pages):

http://www.scribd.com/doc/9938850/Fca-1?secret_password=mo50f7t6a9x6owb6kff

http://www.scribd.com/doc/9938853/Fca-2?secret_password=vrip75nz7p7vuzgjws5

I'll upload a link to a copy of the FCA forms that were sent to me by CIBC an provide it to the forum. To many points, it is pretty mundane stuff. But a follow-up question would be if one were to fill out the FCA forms, would SoL be re-calculated to the date of receipt. I have a feeling it could be a double edged sword.

I settled almost every debt with the creditor. Every debt I had been with a collection agency. If I didn’t like the way the collection agency was handling my matter I would call the creditor. I even had two ombudsman depts. help me. People have to realize that you don't have to deal with the collection agency. If you complain to the creditor that the collection agency is not handling your matter the way you like, believe me they will step in, after all they do what their money if not all or some of it.

mm.. hmm... that was one of my other quirks. If it hit collections it didn't get paid period. If the original creditor wanted the money they could recall the debt and I would work with the original creditor in 30 days... but I absolutely would not ever allow my money to go to a collection agency.

Don't know what I'd do now... but back then if yet another bill hit the bureau it wasn't a biggie. One bad collection is as bad as 10.

If you are asking a 3rd party collection agency to seek an under parameter settlement from their client (your creditor), you will need to provide the financial capacity forms.

Of course if you want to go with joe's route and go around the agency directly to the creditor, that's your prerogative. Some creditors will refer you back to their agency, others may work with you directly. (Either way the agency gets paid if you pay...)

I'm not dealing with anyone, actually.

I'm more referring to collection agencies in general. First party creditors may have a need for my personal financial information. Third party collectors do not.

Hrm I won't be disclosing who I work for, but in my years in the industry I have worked for many different clients including banks, credit card, and automotive companies.

You'd be surprised, most reasonable collectors do want to settle debts (even below parameters). It's not their money - and any money is good money at the end of the day.

I rarely demand full payment, where's the incentive for the debtor to pay promptly if I do that? I can stubbornly demand full payment and get hung up on, or offer a settlement and get some money in the door.

As for the FCA forms, they're pretty mundane. They typically have boxes to fill out various expenditures (i.e. phone/cable/food/car/gas/insurance/etc.) and income sources.

Angela,

I can give a name and number for someone cibc client care services that helped me settle my debts. If you explain your frustration to her about the agency you’re dealing with, she will take your information and pass it along to their internal depts. to be considered for a settlement. I don’t believe collection agencies when they say they will pass your information along to the creditor. I know this from experience.

.

Monty,

They fax you this form. The only one that offered me this form was cibc and I never kept a copy.