Letter of Settlement
Date: Thu, 07/20/2006 - 06:22
I have composed a letter of settlement to attorney that has taken over my debt and served me with a citation. Now what I am wondering before I send it is this... Since November of last year they have told me this debt HAS be to be paid in full, had they accepted a payment plan then this debt could have been reduced quite a bit to date. The amount according to them is 9400. In my letter I have asked to either settle for 5500 full payment or 30 payments of 225 which would settle for 6750. Should I even go lower so they have room to go higher? Not sure what I should agree to.
Thanks for any help and hope I've explained this good enough!
Angie
Thanks for any help and hope I've explained this good enough!
Angie
Angie, see how much you can afford at the maximum. Lay out your
Angie, see how much you can afford at the maximum. Lay out your proposal accordingly. Keep in mind that a debt can be negotiated up to 40% to 60% of the total amount. The attorney will also be interested in recovering the money from you before it runs out of the legal SOL period. Once the statutes of the state expire where this debt account occurred, they won't be able to collect the money from you legally. Make your proposals in a better way if some debt counseling helps.
