trying to negotiate a settlement with HSBC in illinois

Date: Mon, 11/08/2010 - 05:05

Submitted by anonymous
on Mon, 11/08/2010 - 05:05

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Total Replies: 1

I received a summons to appear on a debt that was originally $6500 & is now $13,000 with all the fees & interest rates. I appeared in court and denied the amount owed & now have 30 days to try to negotiate a settlement or set a trial date. I called the law firm representing Hsbc to try to negotiate but now they are asking for bank statements for the last 2 months (because i am self employed) & want a letter stating what got me where i'm at. I would really appreciate any advise or help on what to do next.

Your statement is not very clear to me. On one hand, you are say

Your statement is not very clear to me. On one hand, you are saying that you appeared in court but the court did not resolve the issue. On the other hand, you have written that you have 30 days time. I think you received the summons long time back and then you got the judgement letter as well. Now, if the court has decided that you have to resolve the issue within 30 days with the creditor directly, then it's better to resolve.

You can send your bank statement so that they understand your hardship and then you can negotiate. Or you can go for a monthly payment plan where you need to pay the full balance in small monthly payments. But remember one thing, before you start making payments ask them to send a written approval.

lrhall41

Submitted by paulcahill80 on Mon, 11/08/2010 - 14:20

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