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 Posted: Thu Jan 17, 2008 11:46 am Subject: PLEASE HELP |
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I have fallen on bad times over the course of the past 2 yrs and now a credit card company has turned me over to an attorney. I would like to set up a payment plan or possibly even settle the debt all at once but i dont know how to get the best offer for settling this debt now that papers have been filed with the court. I have attempted to set up a payment plan with a collection agency that contacted me on this debt but it was transferred to another collector. Finally i sent a certified letter to a collector about setting up a payment plan and the next thing that happens is i am served the court papers. What should i do please help.
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BRIAN
Joined: 17 Jan 2008
Posts: 1
Debtcc Points: 50
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| Posted: Thu Jan 17, 2008 12:07 pm Subject: |
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Others will be along shortly to advise you on how to handle this matter. But my suggestion is to send a debt validation letter, certified/return receipt requested, and make sure that you show up for any court dates, you do not want them to get a default judgment on you.
ladybug
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ladybug
Joined: 29 May 2007
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| Posted: Fri Jan 18, 2008 10:32 am Subject: |
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Welcome to the Community Brian  First off, I hope you kept a copy of the letter you sent asking for payments. Take this to court with you, and be sure to answer the summons, and to show up, or they will get a default judgement.
IF the attorney won't set up payments or the CA, the judge will.
Have you sent them Debt Validation letter? Are you sure that the amounts are correct, and that this attorney/collector is legally able to collect on this? Since it has been passed around, you want to make sure about this
Do you have a court date yet?
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As long as you are alive, there's always hope
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Bossy4455
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| Posted: Fri Jan 18, 2008 12:40 pm Subject: |
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You're getting some great advice  Like Bossy said...the first thing is to make sure that the amount owed is legit. It would make sense that after having your account passed from one to another that the information may not be completely up to date.
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debrag_25
Joined: 10 Jan 2007
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| Posted: Fri Jan 18, 2008 7:44 pm Subject: |
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If the debt is legit, I have found that most collector firms will accept a 50% lump sum offer.
If you don't have that much, there are many options. First off, what state do you live in?
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rstimson
Joined: 05 Dec 2007
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| Posted: Fri Jan 18, 2008 11:19 pm Subject: |
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I would like to welcome you also Brian..
I know you have found the right place to offer you support and advice and hope you find many friends here!
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socksfullofrocks
Joined: 14 Dec 2007
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| Posted: Sat Jan 19, 2008 2:29 am Subject: |
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If you have no assets, if you are in a state that doesn't allow garnishment of wages or you have no income there really is nothing they can do to you accept issue a judgement. Later on when you are on your feet, you can then negotiate a settlement.
Law suits are designed to intimidate you into paying, but if you can't pay and you really have nothing ... just wait it out until better times enable you to take care of it.
However, if you are in a position to offer a settlement, you could contact the lawyer suing you and see if they will settle or hire an attorney to negotiate it for you.
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"It's not the hard times that will get you, it's the good times"
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lostindebtat50
Joined: 24 Oct 2007
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