Topic: Let em sue or pay up

[deepkimchee]

I have already gone one round with Amex and local attorneys, much to my success!!  I enjoyed the the whole process quite actually.  I wouldn't be devastated if I had to do it again.

Fast forward a year, now I am hearing from my other Amex account.  Last summer I was dunned from the firm that rhymes with ticker.  I sent the usual DV, limited CD, and election of Arb.

Yesterday, over six months later I got a bill from the same firm, with a letter telling me to contact one of their "non-lawyers" to discuss this account.

My dilemma:  This bill is only in the high 2's.  Part of me wants to call them up and offer them 50% (I know I could do better) and call it a day.  What is stopping me is resetting the SOL. 

Part of me wants to let them sue me, and have some fun, and probably do very well with this. (I know I'm sick, lol).

In a perfect world they would send me a letter with 30% or less and make me go away.  Any idea's how to get to this point without a lawsuit, or restarting the SOL?

[bad98roadster]

Initiate the JAMS arbitration.

Then call one of the "non-lawyers" to discuss the account.

[deepkimchee]

Would that be resetting the SOL?

[kevinmanheim]

What was the outcome of your first AMEX account?

Depending on your answer, the second one may already be resolved.

[KFMAN]

Thinking of Settling with the Creditor? Read This.

http://www.debtorboards.com/index.php/topic,7217.msg18.html#msg18

[Fighting Irish]

Your state's laws will determine if acknowledging the debt, even before paying anything, will reset the SoL. What are we talking about?

A few months left on it? A few years?

If they haven't sent validation, then they are continuing collection activity illegally.

If they have, and you weren't satisfied, you can always send a secondary DV, reminding them that the debt is still in dispute.

For me, I would look at the interest rate, and think about how more than the principal has already been paid.

[deepkimchee]

[/]What was the outcome of your first AMEX account?

Depending on your answer, the second one may already be resolved.[/quote]


The first account, I elected arb, and initiated they sued anyway.  I threatened them with FDCPA, hassled everything I could think of, and they settled to my satisfaction.

This is a separate account,  with different a different law firm.  I don't understand how the second could already be resolved.  My hope is they already know what I am capable of, and will settle at 30% or lower.  Wishful thinking maybe, but I don't want to reset SOL and propose that.  I have 4 years left on SOL btw.

[BrokeBob]

I'm confused.

Whenever I get settlement offers, such as they propose to pay me $X, it always comes with some legalese that the settlement offer does not constitute admitting the violations, etc.

So, I ask people more knowledgable than myself:  if the OP were to make a settlement offer of $Y, with the caveat that this did not constitute admitting the violations, why would that reset the SOL?  Or would it?

In any case, folks are telling you that settlement negotiations generally go better after initiating in JAMS.

If you are really scared that any offer would reset the SOL, then maybe you should follow the same path as before.

[deepkimchee]

I am afraid if I propose the settlement it will reset SOL.  I am hoping they will give me a better offer, if they do and I accept, done deal.

[CleaningUp]

What are your state's policy on how SOL is reset?

One leads offers like this with the statement that the offer is tendered to avoid costly and lengthy litigation ans is in no way an admission of facts or liability.

[bad98roadster]

I don't believe resetting the sol is an issue if you offer settlement.

That being said, and even if it was an issue, I don't understand the fear of resetting the sol from 4 years to whatever.

If it were my issue, I'd initiate. They'd then have to decide if they want to engage you in JAMS pursuing an alleged 3k debt at an additional expense of 3-5k+ just to begin with.

I would think your odds of settling at 30% or less would increase dramatically.

[CleaningUp]

The problem arises in using language that assumes responsibility and reaffirms the debt.  It is language like that that needs to avoided or negated.

The last thing one wants is one's agreement to something selling one down the river.

This where command of the language and its use in written documents become essential to getting what you want without giving up what you have.

[Ozzie69]

I have already gone one round with Amex and local attorneys, much to my success!!  I enjoyed the the whole process quite actually.  I wouldn't be devastated if I had to do it again.

Fast forward a year, now I am hearing from my other Amex account.  Last summer I was dunned from the firm that rhymes with ticker.  I sent the usual DV, limited CD, and election of Arb.

Yesterday, over six months later I got a bill from the same firm, with a letter telling me to contact one of their "non-lawyers" to discuss this account.

My dilemma:  This bill is only in the high 2's.  Part of me wants to call them up and offer them 50% (I know I could do better) and call it a day.  What is stopping me is resetting the SOL. 

Part of me wants to let them sue me, and have some fun, and probably do very well with this. (I know I'm sick, lol).

In a perfect world they would send me a letter with 30% or less and make me go away.  Any idea's how to get to this point without a lawsuit, or restarting the SOL?

Same thing is happening to me with same debtor and firm.  Must have nothing better to do.

[kevinmanheim]

[/]What was the outcome of your first AMEX account?

Depending on your answer, the second one may already be resolved.


The first account, I elected arb, and initiated they sued anyway.  I threatened them with FDCPA, hassled everything I could think of, and they settled to my satisfaction.

This is a separate account,  with different a different law firm.  I don't understand how the second could already be resolved.  My hope is they already know what I am capable of, and will settle at 30% or lower.  Wishful thinking maybe, but I don't want to reset SOL and propose that.  I have 4 years left on SOL btw.

Both accounts were AMEX?

Was it AMEX who sued you on the first account?

If so, the second account may be barred from litigation because they should have brought both claims at the same time.

[deepkimchee]

It was AMEX who sued me on the first account.  I still don't get the concept of the second account being barred from litigation.

The first account was dismissed with Prejudice, but it was an entirely different account.

Also,  I have decided to initiate with JAMS.  I think they are ready to pounce.  Problem is, I don't have any violations on them yet.

Do many people intiate without violations?