Speaking With Creditors
Date: Sat, 09/30/2006 - 04:16
Third party debt collectors have less rights than original creditors. So long as they are aware that you are representd by counsel, and counsel is communicating with them, they are not allowed to speak with you, unless you speak with them when they call, rather than direct them to the firm.
People, if you cannot control yourself and have to speak with them, especially at the end of the month, please do not disclose how long you have been making payments to the law firm, and for how much.
NEVER disclose this to a debt collector. When MBNA sells their debt to a third party, they do so for anywhere from .08 - .10 for every dollar. We settled over $250,000.00 worth of debt this week, for .34 - .40 on the dollar, a substantial savings. In some instances we settled debt for .22 on the dollar.
But, if they know that you have a certain dollar amount, it is harder to negotiate. So please, please, be patient.
Thank you Hess Kennedy for that valuable information! I found th
Thank you Hess Kennedy for that valuable information! I found that is very true when I was working with my collectors. And they WILL try to find out how much money you have. The best answer is, NONE.
And when you come to an agreement, send NOTHING until you get it in writing.
Reprise
And please, even if you cancel our services, you are still entitled to run any question by a member of our staff. Our email help desk is avaiable to any current or former client. We provide this as a public service. Dont let a debt collector make you do something, or dont let them break the law by making unlawful threats, representations, etc.
Those people having a hard time making the decision to completely stop paying their creditors should really visit amazon.com, or consumerlaw.org
For $19.00 anyone can get a legal publication that teaches you how to settle your debts if you cannot afford and attorney. The search term at Amazon.com is "Settle Your Debts" "To Pay or Not To Pay", etc.
Email me if you want specific titles to some of the books that are available.
