being sued

We received an offer to settle at day 39 on wifes account, then a week later a letter demanding payment in full I think within 10 days or so or they'd sue...That date has come and gone and the phone calls continue...Think now its around day 60-70ish...On my 2 accounts I've received nothing but phone calls and offers for BLP's For whatever it's worth...

I just got the call today at 60 days late with a 80% settlement. After i said that i did not have the money they said that they would sue in 8 days. I figure it's a scare tactic, but figured i would get some info from this message board. By the way, how much do you owe on your account?

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Did you get a letter from a law firm yet ? If so what is the name of the law firm ?

Total scare tactics...Thats what you are dealing with...Me personally, I am holding out for a summons, because I know once it goes to court, they have to start all over, and thats expensive!!!!

By start all over I mean,

they have to prove you owe the debt, there is discovery, and all kinds of legal nonsense.. I know for a fact Chase does not want to go through this.

So the choice is yours.. Settle the debt, make it stick, or do not pay a dime.. Me personally, I am fighting everyone, and since the debt collectors/banks are so incompetent, I plan on beating them on technicalities..

Good luck.

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Thanks for the info guys. I just really got discoureged when they said they were going to sue me after such little time had past. I am really encouraged by the 20% settlement; I can only hope to get close to that number

that is pretty common practice amoung collectors is to threaten lawsuits and wage garnishments. they hope to scare you into some type of payment dont let it worry you and let it in one ear and out the other until you get a registered letter telling you to appear in court. and even then dont be too concerned about it its not as bad as your are imagining and you wont feel so bad once you see how long the docet at the court house is right now with this sort of thing. and frankly the judges frown upon them not working with you. to be on the safe side document all dates, times and coversations and who you spoke with to prove you were making a effort. you may still get a judgement but they will be understanding

I'm in the same boat as harrys, my wife has a cc acount with Chase owing about $12K. I called them and offered $3K and they looked at her credit report and said basically "if she can pay her mortgages, then she can pay us too". We have a few rental properties and her name is on those notes.

Anyway, we just got the attorney letter from Bishop, White & Marshall demanding payment. Any advice on my next action? I was going to call Chase on Monday and up my offer to $4K. Or, should I call the CA? Or just sit tight and...?

Thanks for any replies.