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re: I'm being sued for a old CC. ...UPDATED..agreement
Posted on 7/24/14 at 11:23 am to Modern
Posted on 7/24/14 at 11:23 am to Modern
What's the difference between the amount you proposed and their counter?
Keep in mind here, that you are not in the strong posistion of this negotiation, you are in the weak posistion. If you don't work with them, they will just roll through the lawsuit and get what they are looking for, as it doesn't sound like you are a bankruptcy risk.
If you have the money to pay the counter in one chunk, I would think long and hard about doing that. The time to be cute is well in the past. Is a few hundred bucks work the risk of a judgement against you?
Keep in mind here, that you are not in the strong posistion of this negotiation, you are in the weak posistion. If you don't work with them, they will just roll through the lawsuit and get what they are looking for, as it doesn't sound like you are a bankruptcy risk.
If you have the money to pay the counter in one chunk, I would think long and hard about doing that. The time to be cute is well in the past. Is a few hundred bucks work the risk of a judgement against you?
0
Posted on 7/24/14 at 11:41 am to Modern
quote:
I sent them a letter with a settlement amount and they replied with a counter amount.
They offered me a counter amount with a date to send payment by.
Q: if I wanted to send them a second offer, should I do it now? Or wait right until the payment date they gave me?
Wow, just wow
So you admit you fricked up, ignored their letters, refused to pay your debt and now you wanna be stingy and play the back and forth negotiation game, even though they offered to reduce your debt and not take you to court?
Posted on 7/24/14 at 11:46 am to LSUFanHouston
quote:
Uhhh... I'm 99.9999% certain there is a chargeoff on his credit report from the original creditor.
There is.
I have a lingering mark form a similar situation to the OP.
I paid in full, but there is still a chargeoff on the report. And yes, I tried to negotiate it off before paying.
Posted on 7/24/14 at 11:46 am to Lsut81
+ a billion
And that gif is perfect for this
And that gif is perfect for this
Posted on 7/24/14 at 11:48 am to Lsut81
quote:
Wow, just wow
So you admit you fricked up, ignored their letters, refused to pay your debt and now you wanna be stingy and play the back and forth negotiation game, even though they offered to reduce your debt and not take you to court?
Exactly. OP got a counter offer on a debt he owes and now he wants to negotiate like he's buying a house.
How about the OP writes a check for the amount of the counter offer and thanks his lucky stars that the lawsuit was dropped?
Posted on 7/24/14 at 11:55 am to VABuckeye
How about that I magically don't have the amount that they offered me. I'm human and have bills that fit into my budget just like everybody else.
We're all not "OT" ballers with high paying jobs.
We're all not "OT" ballers with high paying jobs.
Posted on 7/24/14 at 12:22 pm to Modern
quote:
We're all not "OT" ballers with high paying jobs.
You really are not going to get a positive response with this line/attitude.
There was a cascade of errors that led you to this position, and one of them was ignoring the debt when it first started, when they would most likely have been willing to be highly accommodating.
They just wanted to see a willingness to repay. Not debt dodging for years.
As snide as it sounds......maybe you see the value of an emergency fund now?
And its not something just OT ballers have. My first year of work I made less than 45k. I still did whatever was needed to save every penny so I can put aside a 10k cushion.
Because then I had piece of mind knowing that if I got in a car accident or an health issue came up, even if I was out of work for weeks or even months, I wouldn't have to spend it scared shitless not knowing where the next rent payment was coming from.
And other posters here have saved even more with less.
So GTFO of here with that "OT baller" bullshite.
You done fricked up.
It's okay, you are human.
But learn from it and stop being a pussy about your accountability on the issue. Damn.
See if they will do a payment plan with you, get the debt out of the way, and move on from the problem.
This post was edited on 7/24/14 at 12:24 pm
Posted on 7/24/14 at 12:38 pm to Modern
quote:
How about that I magically don't have the amount that they offered me.
If you are going to play the negotiation game with a creditor you need to have funds set aside to pay or have the means to get the funds to pay the debt. Without the money the negotiation is pointless. They aren't interested in a payment plan with you. They want the money.
Posted on 7/24/14 at 12:39 pm to VABuckeye
He is still stalling I think.
"Do I do it right now or do I wait until right before the deadline."
"Do I do it right now or do I wait until right before the deadline."
Posted on 7/24/14 at 12:41 pm to Volvagia
Yep. His choice is simple. Pay now or let it sit on his credit report for 7 years.
Posted on 7/24/14 at 12:41 pm to Modern
quote:
We're all not "OT" ballers with high paying jobs.
Most "OT ballers" pay their bills. Not a good attitude.
The collective wisdom on the Money Board is top notch, I and others gave you advice to settle, which albeit dishonorable (you aren't paying your debt), is sometimes the best way to "desperately help" someone.
I do alright for myself. But there are lots of people that do better. I respect those who have worked hard to get where they are and wish to learn from them, not insult them.
I'm going to assume you offered $500 and they countered at $1200 or so on a $2000 debt. Offer $700 and get them out of your life. If they don't take it. Scrap together $1200 or you will end up paying $2000+ via "involuntary payroll deduction"
And don't make the mistake again. In fact, if you want to be honorable, you should send them a check for the difference in 20 years assuming you learn your lesson and start saving.
Posted on 7/24/14 at 12:42 pm to Volvagia
quote:
My first year of work I made less than 45k.
He definitely fricked up, but you can save money making slightly less than 45k. I'm not sure what this guy's income is but most people don't have 10k emergency funds.
Also to OP, try to see if they will accept any kind of payment plan.
Posted on 7/24/14 at 12:45 pm to Modern
quote:
How about that I magically don't have the amount that they offered me.
But you had the amount you originally offered?
I don't get this...you asked for a settlement to keep it out of court AND you're getting to pay a lower amount that will get passed along to the rest of us that pay our bills on time.
What exactly is your beef? You've gotten everything you've asked for.
I've slowly changed my position on your plight. At first I kind of felt sorry for you but now seeing more of your attitude towards the whole thing I have done a 180. God I hope my kids are listening to all of the advice I've been giving them regarding credit...
Posted on 7/24/14 at 12:46 pm to dj30
quote:
He definitely fricked up, but you can save money making slightly less than 45k. I'm not sure what this guy's income is but most people don't have 10k emergency funds.
I know.
I am not using my situation as the benchmark for everyone.
My point is that stories like this emerge because people DON'T prioritize an emergency fund or live beyond their means in general.
The root cause is rarely a cash inflow problem.
It starts as a spending problem.
And then when a hiccup to the cash inflow happens.....they are up shite creek.
(FWIW: Part of the reason why I am having such a hardline stance to his whining situation is that a similar thing happened to me for a similar amount of money. Although it was only 5 months though rather than 2.5 years. And it happened before I had a full time career style job. And I STILL did whatever I needed to in order to pay my debts in full, ranging from demeaning side jobs to selling my plasma. So I have literally no patience for someone who moans "woe is me, not everyone has OT baller jobs" as if THAT is what is at issue here.)
This post was edited on 7/24/14 at 12:53 pm
Posted on 7/24/14 at 12:47 pm to Modern
quote:
How about that I magically don't have the amount that they offered me. I'm human and have bills that fit into my budget just like everybody else. We're all not "OT" ballers with high paying jobs.
This isn't the OT where 99 percent of posters are lying their arse off. There are a few jackasses around here, but most of us are trying to help you.
We've all made mistakes. You came to us for help, we are trying to get you out of trouble.
How did you word your offer? Did you make it clear that was all the money you had?
Could you pay off their offer in say three months?
I don't think they would absolutely reject a payment plan, cause in effect, garnishment is a payment plan.
I think you should try very hard to present them something that will allow you to pay off the amount very quickly. Yes, we all have bills, but forgo any unnecessary spending for a few months if need be. See if a family member can help you, pull out all the stops.
Them filing the lawsuit is the ultimate slap on your head to get you to pay attention. It worked. The fact they countered means they are willing to work with you, within reason.
Posted on 7/24/14 at 12:48 pm to htownjeep
quote:
I've slowly changed my position on your plight. At first I kind of felt sorry for you but now seeing more of your attitude towards the whole thing I have done a 180.
This
quote:
Them filing the lawsuit is the ultimate slap on your head to get you to pay attention. It worked. The fact they countered means they are willing to work with you, within reason.
And this.
This post was edited on 7/24/14 at 12:59 pm
Posted on 7/24/14 at 1:00 pm to VABuckeye
quote:
Yep. His choice is simple. Pay now or let it sit on his credit report for 7 years.
It's staying on his credit regardless and he knows that. I don't think he's so much worried about his credit as he is getting sued at this point. The chargeoff is there to stay until time drops it off.
Posted on 7/24/14 at 1:04 pm to Modern
quote:
How about that I magically don't have the amount that they offered me. I'm human and have bills that fit into my budget just like everybody else.
What the frick do you think is going to happen when you lose the court case? They are going to garnish your wages and make the choices for you.
Why don't you grow up and make the choices yourself? Take on a part time job. Cancel your cable? Get a cash advance on another credit card? Etc...
quote:
We're all not "OT" ballers with high paying jobs.
Wah Wah Wah... Its got nothing to do with being a baller, its in prioritizing things, being a grown-up and doing what it takes to pay back your debt.
I guarantee if you posted your full situation in regards to bills, income, lines of credit... This board could easily find the money to pay back what you are being offered as a settlement.
This post was edited on 7/24/14 at 1:06 pm
Posted on 7/24/14 at 1:14 pm to anc
quote:
get them out of your life
I'm willing to bet the collection agency will then in turn sell the debt difference from the original amount for pennies to those scumbags collection companies that keep harassing you till you pay something again. Then they will find relatives and harass them about it too for years to come.
I'd like to thanks my sis for this happening to me today from crap that happened in 1997.
Posted on 7/24/14 at 1:30 pm to JonTheTigerFan
quote:
It's staying on his credit regardless and he knows that. I don't think he's so much worried about his credit as he is getting sued at this point. The chargeoff is there to stay until time drops it off.
While this is true I'd think it's viewed better to have a satisfied bad debt on a credit report than an unsatisfied bad debt.
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