BOA letter they will hire lawyer and sue

Post more information and maybe someone can help. What is the balance? Can you afford payments, or even better, can you afford a lump sum at 30% of the balance?

The account charges off at 6 months and then BOA will give to a collection agency or attorney.

I cant afford the offers ,18k was the settlement. 6k over 3 months is way too much.
Their payment is $600 a month and a 60 month no interest is even more. So I am current on all other cardfs but them
I called several other CC and got them to lower paments for 12 months. Just dont know if things will get better over the next year to make min payments on alll cards

Read the letter very VERY carefully. What words do they actually use? You will see that very often its vague wording and they want your imagination to fill in the gaps because you are scared.

"Your account COULD be turned over to so and so for legal action"

"We MAY take legal action"

These do not say "we will sue you by such and such date" specifically they just want to remind you they COULD and let you be afraid. They always want the upper hand and use fear to try and get it.

I am in the same boat and have already at around 60 days had "vague" mentions on phone of "legal action" and "wage garnishment". Having learned on the boards what to expect it was like they were reading off a script I had already seen.

Could they sue you? Definitely.
Will they sue? No one can say but others that have been through this (both in person I know and people on the 4 boards I frequent) have told me that threats to sue are very commonplace because it gets peoples attention. Actual lawsuits are less commonplace but do happen. My feeling is its often just another negotiation tactic to get you to come up with SOME money.

Actual lawsuits that proceed all the way to trial are even more rare from the anecdotal evidence I've seen.

OP,
BofA can see that you are paying everyone but them.
This can lead them to place the account with a local attorney with authorization to sue where they may not have otherwise.


Mileage may vary

Good point. This is true. I myself have slowly trickled down to where im paying only one of my cards that has a very small balance. THis way I can tell them my money is very tight and I cant pay but a tiny amount and its somewhat verifiable.

Since you have other debts, you might want to consider bankruptcy

Well, My BOA payment is $580 a month, I only have about $300 after everything paid, So eiother I dont pay BOA or I dont pay 5 or 6 other cards and pay BOA, Its easier to deal with 1 card then 6, I guess if they take me to court a judge will see that.
Thats the same thing I told their Senior account manager, they just dont want to lower payments,because he said whatever they do has to be paid off in 60 months and that would raise my payment

[COLOR=#000000]call 866-833-6398 they can get it settled for 20-30 cents on the dollar. [/COLOR]

[COLOR=#000000]call 866-833-6398 they can get it settled for 20-30 cents on the dollar. [/COLOR]