ARM Accounts Receivable Mamagement, Inc. ARM does not respond to settlement offer. Thorofare, New Jersey

For starters, if a collection agent sent you a letter.....the worst thing you can do is quickly respond to it.  You need to consider a couple of things:

1.  How old are the charges?  When do they date back to?  If you don't know, by no means do you do anything until you know.

2.  You need to consider whether the overlimit fees are consistent with the dates of the BofA Class Action Settlement for ordering transactions??  If they are, you can probably have the debt waived.  Normally I don't indicate anyone google anything, but in this case I would look up the information on the internet and see if you (a) qualify, and (b) have the documents needed to cash in.

You need to do some research before you consider doing anything rash like a written letter.  If they want a response, by all means don't commit to a partial settlement; by the time the debt got down to guys like this, the agency bought the debt for pennies on the dollar hoping to find a sucker.  You need to now send a letter rescinding the previously made offer, and indicate the debt is not yours, or indicate the debt is covered under the BofA lawsuit and is therefore void.  Use words like "harassment" a lot when you talk to them.

Once you waive this, this debt is now on your credit reports.  Write to all 3 agencies and have them remove the item immediately, as this is causing your credit score to go down.  Best of luck to you!!