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Need help-CA and attorney

Date: Fri, 08/06/2010 - 10:42

Submitted by Jill Adams
on Fri, 08/06/2010 - 10:42

Posts: 96 Credits: [Donate]

Total Replies: 4


We have settled a couple accounts but I have never dealt with CA's and attorneys so I need need help and advice!

We have a FIA acct that got charged off (we just didn't have the funds at the time to settle). FIA let us know that it would go to a CA or an attorney. A week or so later they did tell us it went to a CA-can't remember the name, my husband spoke to them but I want to say CRC or something. Anyway, an attorneys office called today (Kam Bece's office) and said the CA hired them to settle the account.

1. Is it typical for a CA to hire an attorney? And if so, why, why don't they settle it themselves?

2. Is there anything I should ask the attorney to make sure they really do have our acct (I am sure they do because they had the info but I thought I remember reading I should verify or something?).

3. They gave us an offer that wasn't that great. The balance is 7336.37 and they are asking for a lump sum of $2900 or $3600 total with $2000 down and the rest broken up over 4 payments. Will an attorney actually negotiate or is this it? My husband seems to think an attorney shouldn't negotiate.


4. If we don't take this settlement today now that it is at an attorney's will they accelerate it and if so what will happen?

Thanks!!


Most collection attorneys work the same way as collection agencies. The calls you get are almost never be by an actual attorney but from a collection agent hired by the attorney to make outbound calls like any other collection agency.

Make sure that the attorneys' office is in your state. If it's not, then the attorney can't sue you for the debt. But if they're legal, they can sue you for not paying the debt.

The best you can do is to contact the attorney and explain your financial situation. Although you'll have less leverage than while you negotiate with the CA, but there are instances where consumers have settled for 50-70%. The key is in proper communication with the attorney.

But, as you said, you don't have the funds, you can convince the 1 to take monthly payments of the settled amount in exchange for holding off on any legal action.


lrhall41

Submitted by paulcahill80 on Fri, 08/06/2010 - 12:23

( Posts: 2359 | Credits: )