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Date: Mon, 05/10/2010 - 15:41

Submitted by anonymous
on Mon, 05/10/2010 - 15:41

Posts: 202330 Credits: [Donate]

Total Replies: 19


I settled 7500 citi account at 39% after 120 days. Settled an other citi 26000 at 39% at 140 days. I settled Chase 25k at 31% today.
I have Amex and B o A left, Amex is giving me really hard time, it went to Zwicker and now it went to NCO and sent them arb and DV and now NCO is very quite. B of A is about 90 days late and owe about 12K I will waite on that.
Now I see the light at the end of the tunnle very close to being debt free thank you very much for this forum got very valueable info here.
Thanks


Terry, Congrats! You have done a great job. It just shows that individuals can do this without signing over our paychecks and control to 3rd parties. I am also close to the end of settlement and all I can tell you is that it feels really good. I have not been able to buy my wife gifts for years, but soon I will be doing so....with cash. Good job.


lrhall41

Submitted by dantheman on Mon, 05/10/2010 - 17:50

( Posts: 860 | Credits: )


Terry1, congratulations! Encouraging to see your progress. I just had two Amex accounts sent to Zwicker. Total debt between the two is $37K. I have heard that Zwicker is very hard to work with. Did they threaten to sue you?

What's your advice on how to try to negotiate with them? I had someone tell me to ignore them completely and wait for them to return the account to Amex and someone else tell me that we should tell them we are filing BK (ideally won't have to but still an option) so they tag it as such and send it back to Amex. In either case, I am hearing to avoid them at all costs. Any advice on how to deal with them or get them to send the account back to Amex will be appreciated.

Thanks.


lrhall41

Submitted by on Mon, 05/10/2010 - 20:30

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Quote:

Originally Posted by Anonymous
Terry1, congratulations! Encouraging to see your progress. I just had two Amex accounts sent to Zwicker. Total debt between the two is $37K. I have heard that Zwicker is very hard to work with. Did they threaten to sue you?

What's your advice on how to try to negotiate with them? I had someone tell me to ignore them completely and wait for them to return the account to Amex and someone else tell me that we should tell them we are filing BK (ideally won't have to but still an option) so they tag it as such and send it back to Amex. In either case, I am hearing to avoid them at all costs. Any advice on how to deal with them or get them to send the account back to Amex will be appreciated.

Thanks.


The problem with Zwicker is they demand 60-90% and claim Amex won't accept anything less and they will not present your offer to amex, for you balance I'd guess they'd take 50% if you had the $. If they have lawyers in your state they will sue you, google them and find out if they have offices in your state... If not they can't sue... I would suggest Immediately sending them via (CMRRR and via FAX) a DV letter with your election of arbitration under the terms of the Amex contract...


lrhall41

Submitted by maggie22 on Tue, 05/11/2010 - 06:57

( Posts: 140 | Credits: )


Quote:

Originally Posted by Anonymous
I settled 7500 citi account at 39% after 120 days. Settled an other citi 26000 at 39% at 140 days. I settled Chase 25k at 31% today.
I have Amex and B o A left, Amex is giving me really hard time, it went to Zwicker and now it went to NCO and sent them arb and DV and now NCO is very quite. B of A is about 90 days late and owe about 12K I will waite on that.
Now I see the light at the end of the tunnle very close to being debt free thank you very much for this forum got very valueable info here.
Thanks


My American Express has gone to 3 different agenices and is now with NCO. Most say they are fairly easy to deal with.
Good Luck


lrhall41

Submitted by OZZIE69 on Tue, 05/11/2010 - 07:50

( Posts: 555 | Credits: )


Quote:

Originally Posted by Anonymous
Terry1, congratulations! Encouraging to see your progress. I just had two Amex accounts sent to Zwicker. Total debt between the two is $37K. I have heard that Zwicker is very hard to work with. Did they threaten to sue you?
What's your advice on how to try to negotiate with them? I had someone tell me to ignore them completely and wait for them to return the account to Amex and someone else tell me that we should tell them we are filing BK (ideally won't have to but still an option) so they tag it as such and send it back to Amex. In either case, I am hearing to avoid them at all costs. Any advice on how to deal with them or get them to send the account back to Amex will be appreciated.
Thanks.


Well I can tell you this they were not nice and very agrassive. They did make an offer of 60%at first and then came down to 50% and would not come lower than that. I offered 30% and they kind of brought up the suit and they said I should decide very soon on their terms otherwise the Attorney wnats to know and wants to move quick on this case. So I told them do what they have to do and I will do what I feel is best for me. So I sent them DV letter and week letter I sent them Arbitration letter via certified mail. Did not hear from them again and my account went to NCO right away.
NCO is Flip Flippoing on their numbers one agent says one thing and the other says another so I told them I will deal with them in writing only. I have sent them the DV letter and have not heard any thing from since. Hope this help and good luck!


lrhall41

Submitted by on Wed, 05/12/2010 - 08:47

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Quote:

Originally Posted by Anonymous
Well I can tell you this they were not nice and very agrassive. They did make an offer of 60%at first and then came down to 50% and would not come lower than that. I offered 30% and they kind of brought up the suit and they said I should decide very soon on their terms otherwise the Attorney wnats to know and wants to move quick on this case. So I told them do what they have to do and I will do what I feel is best for me. So I sent them DV letter and week letter I sent them Arbitration letter via certified mail. Did not hear from them again and my account went to NCO right away.
NCO is Flip Flippoing on their numbers one agent says one thing and the other says another so I told them I will deal with them in writing only. I have sent them the DV letter and have not heard any thing from since. Hope this help and good luck!


How exactly did you word the Arbitration letter? Thanks


lrhall41

Submitted by OZZIE69 on Wed, 05/12/2010 - 09:01

( Posts: 555 | Credits: )


Quote:

Originally Posted by OZZIE69
How exactly did you word the Arbitration letter? Thanks


Notice of election of arbitration


4-28-2010


NCO Financial System INC NCO Financial System INC
507 Prudential Rd P.O.Box 15760 Dept 07
Horsham, PA 19044 Wilmington, DE 19850-5760

Dear Collection Manager,
Re: Account Number


I would like to elect arbitration as stated in my card holder agreement. I also request to get a copy of the documents showing where I guaranteed these charges.

With regards,


lrhall41

Submitted by on Wed, 05/12/2010 - 09:21

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Quote:

Originally Posted by Anonymous
Terry1, congratulations! Encouraging to see your progress. I just had two Amex accounts sent to Zwicker. Total debt between the two is $37K. I have heard that Zwicker is very hard to work with. Did they threaten to sue you?
What's your advice on how to try to negotiate with them? I had someone tell me to ignore them completely and wait for them to return the account to Amex and someone else tell me that we should tell them we are filing BK (ideally won't have to but still an option) so they tag it as such and send it back to Amex. In either case, I am hearing to avoid them at all costs. Any advice on how to deal with them or get them to send the account back to Amex will be appreciated.
Thanks.

Yes Zwicker will sue if they have attorney in your area, well they offered me 50% and I initiated the communication right away and tried to settle but the problem with them is that they do offer but the offers are higher and they will sue. I brought up the BK card with them it did not do much I am sure they hear that a lot. Before they sue you please send them the debt verification letter and the arbitration letter. This will stop the the suit.


lrhall41

Submitted by on Wed, 05/12/2010 - 09:34

( Posts: | Credits: )


Quote:

Originally Posted by Anonymous
Yes Zwicker will sue if they have attorney in your area, well they offered me 50% and I initiated the communication right away and tried to settle but the problem with them is that they do offer but the offers are higher and they will sue. I brought up the BK card with them it did not do much I am sure they hear that a lot. Before they sue you please send them the debt verification letter and the arbitration letter. This will stop the the suit.


My American Express is with NCO and Cap1 with Portfolio Recovery. Send them aribitration letter?? Neither are suing.


lrhall41

Submitted by OZZIE69 on Wed, 05/12/2010 - 10:16

( Posts: 555 | Credits: )


Quote:

Originally Posted by OZZIE69
My American Express is with NCO and Cap1 with Portfolio Recovery. Send them aribitration letter?? Neither are suing.


I do not think it will hurt, I sent my Arbitration to Zwicker before they sent any thing to me about suing or gave me any type of indication. I believe that is what helped me and Zwicker sent my account to NCO because they could not sue and collect more in fees in the suit. I have sent DV to NCO via certified mail but have not sent the ARB via certified mail yet. I just faxed it last week. I am thinking about mailing it to them via certifed.


lrhall41

Submitted by on Wed, 05/12/2010 - 11:16

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is there a downside to pulling the arbitration clause? I understand that you will be bound to what an arbitrator decides on any settlement--do they usually favor one side or the other? thanks..:rolleyes:


lrhall41

Submitted by homeseller on Wed, 05/12/2010 - 12:26

( Posts: 23 | Credits: )