They want Attorney Name
Date: Sun, 03/07/2010 - 06:27
My instinct says that everyone threatens bk but it is just a threat so if the borrower gives them a name and address then they at least know you have definately met with someone.
If I give them the name of the attorney do you think they will be more likely to talk settlement? I don't want them to call her and ring up bills on my behalf especially since I'm not sure what I am going to do yet. I met with her once and then she did a bunch of research for me and I talked to her office paralegal twice on those items. That was in January and I haven't done anything else. I'm worried if they call into her office that they may not remember me and make matters worse.
Thoughts anyone? Should I give them the name?
I wouldn't give out the name of the attorney unless you have act
I wouldn't give out the name of the attorney unless you have actually retained her. I agree, you are probably right about the fact that they are always threatened with BK, I for one used that tactic. Just be honest and tell them that it's only in the discussion stages at this point but you are trying to avoid following through.
Debt Free, It is highly unlikely the attorney firm you consulte
Debt Free,
It is highly unlikely the attorney firm you consulted with would confirm or deny having consulted with you were your creditor to call and attempt to verify.
Were you to retain them for the purpose of filing BK, they would then speak openly & directly with your creditors.
Mileage may vary
boa/fia told me that if I gave them the attorney name, so they c
boa/fia told me that if I gave them the attorney name, so they could make one call to verify bk discussion, they would lower the %
Dantheman - did you give them a name and did they reduced the %?
Dantheman - did you give them a name and did they reduced the %? If that gets the job done then I'm for it. Even if I had to pay the attorney for the phone call I'd be happy to if they reduce the % from say 60% to 20% on such a large bill.
info to help & info to know
Quote:
Originally Posted by dantheman boa/fia told me that if I gave them the attorney name, so they could make one call to verify bk discussion, they would lower the % |
this is true!
Quote:Originally Posted by danthemanboa/fia told me that if I ga
Quote:
Originally Posted by dantheman boa/fia told me that if I gave them the attorney name, so they could make one call to verify bk discussion, they would lower the % |
What happened then? Did they actually called up the lawyer's office to confirm and lowered your settlement percentage?
Hey dantheman enquiring minds want to know. LOL. Yesterday I e
Hey dantheman enquiring minds want to know. LOL. Yesterday I emailed the attorney to see if I could pay her to take the call and verify that I had a bk consultation but no other information. I figure that if I could pay her $100 or something and it saved me thousands it would be worth it. I'll let you know if she agrees - didn't hear back from her yet.
Quote:Originally Posted by AnonymousDebt Free, It is highly unl
Quote:
Originally Posted by Anonymous Debt Free, It is highly unlikely the attorney firm you consulted with would confirm or deny having consulted with you were your creditor to call and attempt to verify. Were you to retain them for the purpose of filing BK, they would then speak openly & directly with your creditors. Mileage may vary |
I agree! I doubt an attorney is going to take the time to talk with your creditor(s) IF they are not on a retainer by you. And just because you spoke with an attorney about BK doesn't mean that you will/can file for BK. I think people who are in financial hardship will review all options before making a decision (BK, consoldiation, DMP, settlement). Just my thoughts.
BOA offered me 30% and I am offering 20%. They told me point bla
BOA offered me 30% and I am offering 20%. They told me point blank that with the atty name and number, they would make one call to verify I have had discussions...and that would perhaps cause them to accept my 20%. I am going to call one just for this purpose.
Quote:Originally Posted by AnonymousHey dantheman enquiring mind
Quote:
Originally Posted by Anonymous Hey dantheman enquiring minds want to know. LOL. Yesterday I emailed the attorney to see if I could pay her to take the call and verify that I had a bk consultation but no other information. I figure that if I could pay her $100 or something and it saved me thousands it would be worth it. I'll let you know if she agrees - didn't hear back from her yet. |
Please let us know what she says. I don't have a debt atty but need to get this going in a hurry.
Quote:Originally Posted by danthemanBOA offered me 30% and I am
Quote:
Originally Posted by dantheman BOA offered me 30% and I am offering 20%. They told me point blank that with the atty name and number, they would make one call to verify I have had discussions...and that would perhaps cause them to accept my 20%. I am going to call one just for this purpose. |
I guess CC are just trying to find ways to validate true hardships. I haven't spoken to any attorney about BK, though I have done some research on the Net and BK is my last choice. But, if I could save $$ on a settlement, I would definitely have an initial consultation with an attorney and give that info to the CC; it's worth spending a few hundred $ to possibly save a few thousand. I think most people with financial hardship looking for settlement would do this; so not sure what the CC is gaining by requesting this.
You should go ahead a make an appointment for a free consultatio
You should go ahead a make an appointment for a free consultation with a bk atty. It sounds like it would be well worth doing if it can help with settlement. I met with one in Jan and discovered that I could not afford to file . (pretty sad huh) Since I do I have assets he said I would have to pay in full in five years. My payment would have been about $500 more a month than just paying minimum cc payments.
Quote:Originally Posted by desiretobedebtfreeYou should go ahead
Quote:
Originally Posted by desiretobedebtfree You should go ahead a make an appointment for a free consultation with a bk atty. It sounds like it would be well worth doing if it can help with settlement. I met with one in Jan and discovered that I could not afford to file . (pretty sad huh) Since I do I have assets he said I would have to pay in full in five years. My payment would have been about $500 more a month than just paying minimum cc payments. |
I think I'd try another attorney. I presume you either can't or don't want to file Chapter 7? Or do you really not need bankruptcy relief?
Chapter 7
Quote:
Originally Posted by johnp292 I think I'd try another attorney. I presume you either can't or don't want to file Chapter 7? Or do you really not need bankruptcy relief? |
I don't want to file Chap 7. I have a mixed use property that is both my home and business. If I lose that I'll not only lose my home but also what little income I have. My business is new and struggling and not making money yet but I do have a little equity in the building.
Perhaps I should have spoken to more than one atty.
info to help & info to know
about a year ago, maybe a little longer, b of a stopped handing out 15% on personal credit cards and now the debts are being stamped with what they call it as a "Thresh hold" they range from 20%-35% at 180 days late, me doing debt settlement we figure out if the client could simply state they were filing BK at 180days late the rep we were talking to would instantly go down to 15%.
then b of a started asking for attorney info, they would admit they wouldnt call but they needed it in order to get an approval from upper management for 15%
after even more time passed they started saying they would call and they do now sometimes.
the trick is to find a local BK attorney and set up and appointment weeks ahead, get the name of the attorney, the address, the number and all the info you can get. when youre dealing with B of A tell them you have an appointment with them but youre trying to settle first and if you cant get 15-20% you will end up filing BK, this should work and it does.
once you have the settlement letter in hand cancel the appointment with the BK attorney, done.
aka
Quote:Originally Posted by desiretobedebtfreeI don't want to fil
Quote:
Originally Posted by desiretobedebtfree I don't want to file Chap 7. I have a mixed use property that is both my home and business. If I lose that I'll not only lose my home but also what little income I have. My business is new and struggling and not making money yet but I do have a little equity in the building. Perhaps I should have spoken to more than one atty. |
It can't hurt to ask. Maybe the first one just didn't look into developing a good enough Chapter 13 plan. I know if you follow your plan, at the end of the plan you get what they sometimes call a "super discharge" because it actually discharges more debts than a 7. You might want to look at a book called "Bankruptcy Laws for Dummies". Good book, lots of useful info.
wow riot, great idea. b/c i do not plan to file bk and that wou
wow riot, great idea. b/c i do not plan to file bk and that would be a waste of time to actually have a meeting. my "threshhold" lower end is 30%,according to fia. I have offered 20 and my 3 cards charge off in the next couple of weeks.
info to help & info to know
Quote:
Originally Posted by dantheman wow riot, great idea. b/c i do not plan to file bk and that would be a waste of time to actually have a meeting. my "threshhold" lower end is 30%,according to fia. I have offered 20 and my 3 cards charge off in the next couple of weeks. |
it works most of the time, on another side note i couldnt imagine any attorney you have hired to give out this personal info to a creditor?
so is your FIA/BofA at 180days late stamped with a thresh hold with 30% ? still not a bad deal but they can go lower, think the lowest lately is 20% but try for 15% or to make it sound like youre not hard balling them offer them something they seriously cant do at all like 13.432 % hoping they counter at 15% which would be a no brainer.
if you are at 30% at 180days late this early in the month maybe later in the month they will drop it a bit, also keep in mind if they do not go lower than 30% interest and late fees might apply in the middle of the month and now your 30% will be a tad bit higher, fyi
things to know, most of this info people will learn is something most people will never run into again, i do this for a living and enjoy it, i enjoy helping people and saving people money from these jerk scum collectors, i like to argue and getting my way LOL
bankruptcy
Quote:
Originally Posted by johnp292 It can't hurt to ask. Maybe the first one just didn't look into developing a good enough Chapter 13 plan. I know if you follow your plan, at the end of the plan you get what they sometimes call a "super discharge" because it actually discharges more debts than a 7. You might want to look at a book called "Bankruptcy Laws for Dummies". Good book, lots of useful info. |
johnp
Thanks for info - I will further check into this and check out the book. I should know my all of my options because I could still end up there if unable to settle debts. I read some of your posts and saw that you handled your own bankruptcy. you brave soul
Quote:Originally Posted by Anonymousit works most of the time, o
Quote:
Originally Posted by Anonymous it works most of the time, on another side note i couldnt imagine any attorney you have hired to give out this personal info to a creditor? so is your FIA/BofA at 180days late stamped with a thresh hold with 30% ? still not a bad deal but they can go lower, think the lowest lately is 20% but try for 15% or to make it sound like youre not hard balling them offer them something they seriously cant do at all like 13.432 % hoping they counter at 15% which would be a no brainer. if you are at 30% at 180days late this early in the month maybe later in the month they will drop it a bit, also keep in mind if they do not go lower than 30% interest and late fees might apply in the middle of the month and now your 30% will be a tad bit higher, fyi things to know, most of this info people will learn is something most people will never run into again, i do this for a living and enjoy it, i enjoy helping people and saving people money from these jerk scum collectors, i like to argue and getting my way LOL |
the guy from fia told me that i have a range and 30 is on the low side. i am at 180 days but he told me they have another month with it in house. i am going to furnish the atty name, as you suggested and try to get to 20. i can live with that and think 15 is pushing it for me. thx for your input.
info to help & info to know
Quote:
Originally Posted by dantheman the guy from fia told me that i have a range and 30 is on the low side. i am at 180 days but he told me they have another month with it in house. i am going to furnish the atty name, as you suggested and try to get to 20. i can live with that and think 15 is pushing it for me. thx for your input. |
im not trusting what he said about youll have another month in house, unless he is referring the recovery unit which is after charge off but they wont settle for under 35%. did you ask exactly how many days late you are to this day ?
Talked to Chase today and they are only offering 80% at about 84
Talked to Chase today and they are only offering 80% at about 84 days late. Told her my situation and that I had met with bk attorney. She asked for the name so i gave it with address and phone number. She said they would call to verify. I said thats great but they would be responsible for any billing since I had not made up my mind yet on using her but really like her - but I was also going to meet with another attorney next week before deciding. She wanted to know if I had paid the attorney any money yet and exactly what chapter I was filing. I just told her that I didn't know the chapter yet but probably wasn't eligible for chap 13 and no hadn't paid her yet since I was trying to settle these accounts first and wanted to get another attorney opinion as well.
She put me on hold for a long time but came back only with the same offer of 80%. How fasinating is that? By the way - I offered them 20% today via debit card (actually gift visa card). I wish I knew why some people were getting such low offers so early in the process and others are getting charged off before a settlement is reached.
anyone have any idea of what kind of matrix they work off of? What things are triggers for them to offer low settlements and what are triggers too ffer only higher ones? My income has dropped 70% since 2007. Shouldn't they take the money? Frustrated (Cap One cards about to charge off and won't even talk to me about settlement).
I don't know if anyone will ever see this since it's now in a bu
I don't know if anyone will ever see this since it's now in a buried thread on like page 12, but this is what happened. I gave b of a and Chase my attorney information. Talked to the attornies office and they said if they called they simply verify that I came in for a consultation and the bk has not been filed yet.
About a month later I called B of A and got 40% off the bat, then I called Chase and got 35% off the bat. So I'm thinking this does work since there was absolutely no budging before. I did tell the attorney they could not release any information on income/assets and they said they never do but would verify I had been in.
Now keep in mind once you give them the attorney information they do not call you anymore. Which is a good thing but remember to call them about a month later and you should be able to settle.
i just gave this information to Capital One and will wait a month and then see if they will settle on the last card before the payments on the B of A and chase settlements are done so it still appears that I am in a bk situation.
Oh by the way, the attorney said that I could hire her to do the settlements if I got roadblocked. i may take her up on this on the Capital One. I'm sure she gets into a different department but I'll try in a month and see what happens first.
i would call DS Financial at 866-833-6398 they can get you settl
i would call DS Financial at 866-833-6398 they can get you settlements as low as 20 cents on the dollar.
Why would I call them to settle when I've been able to settle my
Why would I call them to settle when I've been able to settle myself and not have the account delinquent for a year while you collect your fees. I didn't have to pay a company fees and I settled way before charge off - you could never ever have done that.