debtinlv |
HFC will not work with me...initial loan of $7k. Have been paying them for 3 12 years and stopped payment for a year due to hardship and they have added all the interest and wants me to pay $12.5k or settle lump sum of $8800..They hasv sued me and was in the process of getting a judgement for lien on my property. I had to work out a payment which will be $350 each month and I am hoping I can make the payments without defaulting as I have so many other accounts to settle. And as they summoned me, I had to pay an extra $600 to the lawyers firm that sued me...I can never win and I hope people will stay away from the checks that HFC sends them thru the mail as that is how it started for me..I regret that and now I am in a hole and am not able to get out and they will not settle for a lesser amount even though my initial loan with them was $7k.
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jb2007 |
I would call back one more time and see if you can speak to someone different, maybe a manager, explain all you have is $4000, and see, if not then, yes call the lawyer and see if you can work something out with them. $4 is reasonable, especially if you did happen to go to court, you could show the judge all your bills and the judge might even award less... so it really should be in their best interest to work with you, so keep trying.
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debtiblv |
Finally called HFC they have said that they will setle for $8500 and nothing less. They have sued me, do you think, I should try to negotiate with their lawyer. I am suppose to call HFC back tomorrow..Please let me know what to do...Thanking you in advance
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jb2007 |
You can call them, but after you work out something you both agree to tell them to fax or mail you the offer so you have it in writing and also let them know you will be paying by money order . Sometimes they try to tell you they won't accept anything unless you give your checking account
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debtinlv |
Thank you so much for your reply jb2007. I am ready to neagotiate and get my debt settled. I will be calling HFC today and see what they say. Do you think it's best to call them or just fax or send an overnight mail. I really aprreciated you taking your time to answer my questions and I will defintely take your advice and call them and make sure I validate the debt before arranging settlement.I will surely post her about my progress..Thanks again and keeping my fingers crossed.
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debtinlv |
Thank you so much for your reply, I will be calling HFC today to negotiate the settlement and see what they say. Do you think it is best to talk to them over the phone as (they are so pushy)or sent them a fax or a over night
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jb2007 |
Hello Debt, I think you should be able to do quite a bit, your chase/BoA and citibank I'm pretty sure will settle. I'm sure they are in collections now, and when I am dealing with the collections they still seem willing to settle. I would call HFC first and offer them $3500 to settle. Payment arrangements might have you paying the whole thing, so call them first and see if you can get this one done, if you need to then go as high as 4K but I would start with 3500, Do this as soon as you can and they are now trying to sue you. Make sure you get it in writing, after that then I would work on BoA, Chase first, then the rest. On these offer 35%-40%, but keep in mind you may have to stick to your guns and not let them push you around, because they will try and make you feel bad and they will keep trying to get more, but don't go over 40%. They should be able to agree to that, and tell them you will send them a money order. So your settlements should look like this HFC - $4000BoA - $1120 - Unitedchase - $2525Southwestchase - $2525HSBC - $1225Citibank - $1050Providian - $525Wells fargo $455The numbers are based on 35% except for HFC - if you can keep to these numbers you will be just over 13K - but if one doesn't want to settle at the time, then move on to the next, and get as many as you can done. Also if you are unsure about the collection agency, please send a Debt validation letter to any that are with collection agents and NOT the original credit, my Citibank card has went to two collection agents and you want to make sure whoever you pay is authorized to collect/settle with you and that the difference that doesn't get settle, does in fact get wiped off and not resold!! You can only verify this with a DV letter, please do that for any that are with collection agents! Hope this helps
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debtinlv |
Here is the list of creditors that I have . I am about 40k in debt. I am thinking about negotiating with my creditors. I a getting 13K and I want to use the money to settle if the creditors will reduce my settlement amount.Please let me know who will settle and who will not. I have already replied to the summons today and paid the $30 at the justice court. Here's the list of creditors: HFC- 9K (Have already sued me and I called them to arrange payment plan but they want $2k upfront to negotiate payment plan) Do you think they will settle if I agree to give them a lump sum of $4k for the debt. BOFA- $3200 CHASE UNITED - $7500 CHASE SOUTHWEST - $7500 HSBC - $3500 CITIBANK - $3000 PROVIDIAN - $1500 WELLS FARGO PERSONAL LOAN - $1300 Please advise me on this and I am hoping to call and wwrite to my creditors as soon as possible but I need some advise first..Thank you so much.
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debtinlv |
Hi JB2007,Kindly please let me know if my creditors will work with me ...I have 13k to work with and I posted and have not have mush responses for help..I hope you can help me ...I am past due for more than a year with some bills. This is the debt that I have and I want to start negotiating as soon as possibleThank you for your time and congratulations.
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cutiebear112 |
hi, Jb2007, may i know your creditor that u have settled? i would like to know if you have settled all of them. If u have the same creditors as mine can u pls inform me how many percent are the settlements. I'm still thinking abt settlement and have to make decision soon. Btw my creditors are BoA, Amex, Wamu, Cap1. Thanks a lot.
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