I've been Paying all Along; Debt sent to Lawyer for Suit.
Date: Thu, 06/01/2006 - 17:32
I have been paying them $80.00 a month on a $3991 balance and they send me a bill every month. I have 15 consecutive months of proof from my bank. I can't afford to pay them the 1600 dollar minimum payment they want, but I have sent them three letters asking them to please negotiate a more affordable option so I won't be considered in default. They tell me to call their telephone people whom I can never reach; I want to negotiate in writing anyhow so I can have documentation.
I assume they are going to file a lawsuit soon after reading the lawyer's website. How bad off am I? :?
Hi Lambi000I am sorry to hear about this situation. I fear y
Hi Lambi000
I am sorry to hear about this situation. I fear your negotiation is not giving you the desired results. But since you have everything documented that proves your actions and previous payments, you can explain the case if it reaches the court.
Besides, settling the matter outside the court will sound good. If you can't manage the negotiations on your own, take a professional quote from one of the counselor here. You can do a free sign up.
Other than that.....
I have other debtors too and I am really nose-to-the-grindstone paying off these debts...and rather successfully. This one bank is probably right in thinking they can get to the head of the pack by suing That'll make everybody else who has been patient and understanding at the bottom of the list. Not fair, huh?
Lambi000, I have a handful of creditors. All but two were wi
Lambi000,
I have a handful of creditors. All but two were willing to accept payments through my debt management plan. But, as they say, it only takes one bad apple to spoil the barrel. My payments have been consistent, on time, and reasonable. But the Capital One attorney wanted me to quadruple my payments to him. If the other non-agreeing creditor, First Resolution, also demanded quadruple payments, I'd be hard pressed to pay all my creditors (and live like a human being, too).
FWIW, unless my attorney says its unwise, I intend to send apologies to all my other creditors ... telling them I didn't want to file Chapter 13 ... but was forced into an economic corner and had to protect myself from my non-agreeing two creditors (and mention their names, so the other creditors will know who upset their applecart.
But, at least under Chapter 13, I can retain the dignity of paying my creditors back ... though they'll have their payments stretched out over 5 years by the trustee. If these clowns at Capital One had left me alone, their debt would have been cleared in less than a year. And my other debts would have been cleared in about two-and-a-half years.
Ces la vie. I had to do what I had to do.
But like I said, if you haven't gotten served with a summons document yet, there's still hope. Try out the free counseling here and see if they can intervene. Sometimes, a debt resolution entity can be more convincing and provoke more understanding of your situation.
Hi LessIsMorePlease read the post of Vikas at the MMG thread
Hi LessIsMore
Please read the post of Vikas at the MMG thread. We have implemented some changes in the forum to control the spams posts. Hope your problems will get solved soon.
Regards
Mike
One more thing
I did send this whole matter to the Attorney General in my home state and they thought the matter important enough to send it to the OCC. I doubt I'm going to get any satisfaction from them, but I'm looking forward to hearing more about this.