Getting Sued

I'd say 1-3% is about the biggest BS statement I've ever heard. I'd say closer to 20-25% would be a more likely figure from personal experience.

Nascar Devil,

Of your 20-25% were you able to settle before judgement?

settled 3 but have judgements on 2 others. Of the 3 settled, this was in 2005 before I knew my rights and the remaining balances were sold off so they still pop up about every 6 months with a new JDB. I respond with a FOAD letter since SOL has expired and they should be dropping off the reports early 2010.

Did you not settle because you didnt have the funds, or just couldnt get them to settle?

they would not accept my settlement offer so they went to judgement. Unfortunately for them, TX has very weak post judgement enforcement so they still have gotten nothing.

Did they offer any type of settlement in which you refused, or would they not budge at all? Is Florida anything like texas?

80% was as low as they were willing to go. Can't really answer about FL though.

Who was it that sued, and how big were those accounts?

HSBC - $7000 and Dillards - $3600. Funny thing is BofA was around $6000 and Discover was $3000 at the time and they didn't sue but took my settlement BofA @ 50% and Discover @ 35%

I too have a discover that I am worried about 9500...What was your total amount of debt, and How long did it take them to sue you. I am trying to get everything settled within a 10 month time frame. BTW thanks for your help

HSBC defaulted in 09/03 and I was sued 04/05.
Dillards defaulted 09/03 and was served in 08/07 jsut before SOL expired. That was the 2nd suit filed on that account. The first one was dismissed w/out prejudice in 2005

So each one took some time. Did you keep trying to settle the entire time or did you just give up after a while? Was there a last ditch effort before judgement?

I tried to work with Dillards up until they sold it off to LVNV. HSBC would not work with me at all so I basically told them to FOAD and just go ahead and sue. They did.