Author Topic: Thinking of Settling with the Creditor? Read This.  (Read 36440 times)

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trueq

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Re: Thinking of Settling with the Creditor? Read This.
« Reply #45 on: January 11, 2013 06:32:39 PM »
I'd send them a letter not only electing arbitration, but demanding $1000 for debt collection violations.

In the letter, I'd say, if they send you the $1K and terminate the underlying debt, you will agree not to sue them.

You will certainly find out quick whether they intend to sue you or not.

My experience is:  they will come back and offer full termination of debt but reject the 1K demand.

At that point, then you have an honest choice, and decision on the table.

You know my feelings about JDB's.
My free speech is not legal advice.  If you need legal advice, you need to talk to a lawyer.

Litigation Defense record
Arbitration record:   9 wins * 0 loses
Court Record:         2 wins * 2 judgments (1 of the 2 judgments has been vacated, other judgment upheld on appeal, marked "satisfied", because I wrote a check.)

The one bank that beat me in court, I now have a $2200 limit credit card from them again.
Redemption is always possible.

GRINGO

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Re: Thinking of Settling with the Creditor? Read This.
« Reply #46 on: January 11, 2013 11:58:11 PM »
Or, you can use my method if it is available!

I'm settling with all my creditors-they receive nothing!
If you think I am an attorney, you are quite mistaken. If you are looking for legal advice check the  yellow pages!

debtsurvivr

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Re: Thinking of Settling with the Creditor? Read This.
« Reply #47 on: January 12, 2013 12:12:25 AM »
I'm just in a holding pattern, to see if they violate.  So far I haven't really seen too much in terms of FDCPA violations.  I am encouraged to see their first offer to settle is 20%.  Makes me think they don't have the goods if this goes to court. 

AXXEL

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Re: Thinking of Settling with the Creditor? Read This.
« Reply #48 on: January 12, 2013 12:25:15 AM »
I'm just in a holding pattern, to see if they violate.  So far I haven't really seen too much in terms of FDCPA violations.  I am encouraged to see their first offer to settle is 20%.  Makes me think they don't have the goods if this goes to court.

Suit after arb election is a violation in itself, and a pretty good deterrent against a JDB anyway.  It's what I would do, anyway.