A settlement agreement in December 2002 paid off my BP-Citi Amoco card. Then in January 2005 I applied to refinance and learned that a collection account existed under BP-Citi for the leftover balance, which should have been covered by the settlement. When I called, I was told that the title company's check reached them late, so the settlement was never accepted and the check was simply applied as an ordinary payment. This was years later.
I asked why nobody had told me until now that the settlement was rejected, and the answer was that informing me is not their responsibility. Yet how can I be responsible for a debt I believed was fully paid under the settlement? They told me that finding out was my job. I have called several times, and nobody will connect me with a manager or supervisor. I was told instead to take the dispute to the title company.
What good is signing a settlement when the company may afterward say it changed its mind and will treat the money as a regular payment because it came late? According to the customer service rep, a company has no duty at all to notify a consumer about a debt.
If anyone has advice on getting this settlement reinstated, please share it.
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