Cach LLC wanting 70% of balance or law suit?

Have you submitted a DV in writing? Make sure they can legally collect on the debt.

Correct. They do have the legal right to collect the debt. B of A has sold debt to square two financial aka collect america who is cach llc. Cach LLC has retained an attorney to collect a debt.

I am dealing with Law office of Ed Overcash , hired to collect the debt.

Law office is requesting 70% or a law suit.

anyone ?

Ben....a lot of people do go to work during the daytime. Posting on this site is strickly voluntary. You have to give people time.

If they have properly validated the debt, there is not much you can expect other than to be sued if you cannot settle. Some will take payments but will still follow thru with court proceedings...maybe you can get a stipulation judgement.

I don't mind paying 70% of the debt if I know that it's worth it.

If they wont go any lower and your choice is 70% or a judgment, the choice is pretty obvious.

I would not agree to pay them more than what you originally borrowed especially if the debt is old. If the debt is old then they probably did not pay much for it and are out to make a bunch of money on you. If 70% of the amount on record which includes fees, penalties and interest is more than the original amount owed then I would negotiate harder especially if you have the money to settle at any amount. I would make them prove the amount you owe especially if you go to court. You can settle the debt even after they file and avoid the recorded judgment although there may be some record of the filing. I am not sure if you settle during court and immediately pay if a judgment is generated. Maybe someone else can answer that or check with your court. If you immediately settle then it should either not be recorded or listed as satisfied anyway. I don???t see how that can affect the transfers you mentioned. If you do have more to lose than amount due because of property issues then you probably should heavily consider paying the 70% if they won???t budge.

Ben...offer 50% and hold to it. I believe they will take it but that may be the best you will do.

I settle the account at 50%. I just can't afford a law suit along with a judgment.

I hate BOA...we had a payment agreement with them that has been going on for about two years. My husband is a teacher, and due to loss of his other income, we knew we'd have trouble with the automatic deductions during the summer months. We decided to be proactive and called BOA. They halted the payments and said they would pick up again in September, but we'd still have to catch up with the payments we missed. We said we'd do that as we were able. Well, here is October, and I get a call from Ed Overcash's office. They now have the debt...no notification from BOA, no nothing...just a few days of phone calls (which I don't return right away since I want time to look up information on who is calling). They also leave several messages at my mother in law's house. I wouldn't be surprised if they also called our neighbors. So, imagine my shock when I look at the bank statement and no deduction was made, and now this evil collection agency has the account. No written information from them whatsoever. I spoke with a rep from Overcash yesterday, and they were beyond rude...wanted the entire balance within 24 hours or legal actions would proceed. I notice now that I am required to get a verification of debt from them within 5 days, according to TX consumer laws. Naturally I am not going to remind them of that...now, if I don't call him back within 24 hours, what should I expect? What should I do? I'm tempted to continue to send the $280 per month to BOA, to show my intent to continue with the original agreement, but I don't want to send it if it will be money I should put towards a settlement instead. And how long should I hold fast? Frankly I do not want to deal with these people at all; can I request that I deal only with the original creditor? BOA said they sold it to Square Two, who in turn referred us to the offices of Ed Overstreet...and again, my experience was awful, and according to other stories, Overcash is known for being rude and abusive. Any suggestions?

I am dealing with Law office of Ed Overcash , hired to collect the debt

Ed Overcash? In Greenville, S.C. So may I assume you are in South Carolina. I'm from S.C myself so if thats the case PM me (my name on here is Rown but I cant log in) and I might be able to provide further assistance.

Soaplady- "If they wont go any lower and your choice is 70% or a judgment, the choice is pretty obvious." No. Its really not obvious. Depends on individual circumstances. Sometimes its really not an issue at all.

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Cach is known for falsifying affadivits. I found these defense on the internet. Understand the burdon of proof is on them, and they cant prove that they have the right to collect. I received an affidavit from them, and it was FRAUD!!!