I am a negotiator with a Debt Settlement company.
Can Chase or American Express refuse legally to discuss the account with a debt management office even if we have legal notarize papers? how can I get passed this. also how is the goverment allowing debt buyers to charge more interest on accounts that were charged off?
Having a power of attorney does not force the creditor to communicate with you. It can allow them to communicate with you if they choose. Frankly, sending a creditor a POA prior to being in a position to negotiate may cause a series of unintended consequences for the consumer.
No creditor is required to communicate with a third party negotiator if they don’t want to.
If you want to negotiate with a creditor that does not want to communicate with you, you can always conduct a conference call with the consumer on the line and that may help you to be better able to communicate with the creditor. You can also teach the consumer how to negotiate their own debt and have them contact the creditor.
A charged off account is not a terminated account. Charging off is an accounting function. A buyer of a charged off debt could charge interest and late fees in accordance with the consumer agreement/debt they purchased.
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