Settlement Question
Date: Sun, 11/12/2006 - 17:45
Since you were in the business, what percentage of the debt will a JDB accept as a settlement?
They buy the crap for about 5 cents on the dollar. They could s
They buy the crap for about 5 cents on the dollar. They could settle at 10% of the original balance and still make money. But it is their job to get you to pay as much as they can.
If they had to sue you, they would end up paying an attorney 1/3 of the collection proceeds. So you could probably settle at 66% just based on that.
