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What I can tell you is that if you prepare properly and you are in the right situation, BK Chapter 7 can be an experience from which one can recover a lot faster than the debt settlement strategy. It seems to me that those are small amounts in absolute terms, not worth a bankruptcy at first glance. So if Chase or Citi has the debt and you tell them to stop calling and they keep calling they are in violation of the FDCPA, so I assume if Chase or Citi sells your debt to a third party you must once again tell the third party to stop calling, is that correct. So if Chase or Citi has the debt and you tell them to stop calling and they keep calling they are in violation of the FDCPA, so I assume if Chase or Citi sells your debt to a third party you must once again tell the third party to stop calling, is that correct.

So if Chase or Citi has the debt and you tell them to stop calling and they keep calling they are in violation of the FDCPA, so I assume if Chase or Citi sells your debt to a third party you must once again tell the third party to stop calling, is that correct.

You should send them a cease and desist letter telling them to quit calling you and yes if they sell it to other collectors, you have to send them the same letter.

They are in violation if they continue to call you after they receive your letter. You should send them a cease and desist letter telling them to quit calling you and yes if they sell it to other collectors, you have to send them the same letter. They payday loans spartanburg sc are in violation if they continue to call you after they receive your letter.

Then a cease and desist will let them know about the statute of limitations. Theres just 3 ways to go, bankrupcy,settlement,or nothing at all and wait and see if they sue. And if you go the latter route, then if you make it past staute of limitations, then there is no suit and a cease and desist will stop them from pursuing you. But if they sell that old debt to another collector, they might try to collect your old debt too, so once again send a cease and desist. Most likely though no collectors will continue trying to collect on your old debt. Illinois Question: CC companies have started sending unpaid CC debt to debt collectors who in tern send letter stating with no response the debt is validated. While we figure out whether BK, Debt Settlement or Scorched loans long term loans with bad credit instant with bad credit online the Earth is right for us, would sending a debt validation letter help in stalling collection activity. Just looking to defend and deflect while we work through the entire process. I have already negotiated a loan modification on a Chase HELOC by significantly reducing the amount owed and interest rate.

Tried to settle for 15 cents on the dollar when contacted by collection agency, but to no avail.

Since removal of the CC account from my online account page I have not been contacted and have not inquired. HAS ANYONE DEALT WITH HSBC IN A SIMILAR SITUATION AND SUGGEST WHAT TO EXPECT FROM THIS POINT ON AND WHAT TO DO TO ACHIEVE THE ABOVE STATED OBJECTIVE?

I have already negotiated a loan modification on a Chase sell coins for cash HELOC by significantly reducing the amount owed and interest rate. Tried to settle for 15 cents on the dollar when contacted by collection agency, but to no avail. Since removal of the CC account from my online account page I have not been contacted and have not inquired. HAS ANYONE DEALT WITH HSBC IN A SIMILAR SITUATION AND SUGGEST WHAT TO EXPECT FROM THIS POINT ON AND WHAT TO DO TO ACHIEVE THE ABOVE STATED OBJECTIVE? I have already negotiated a loan modification on a Chase HELOC by significantly reducing the amount owed and interest rate.

Tried to settle for 15 cents on the dollar when contacted by collection agency, but to no avail. Since removal of the CC account from my online account page I have not been contacted and have not inquired. HAS ANYONE DEALT WITH HSBC IN A SIMILAR SITUATION AND SUGGEST WHAT TO EXPECT FROM THIS POINT ON AND WHAT TO DO TO ACHIEVE THE ABOVE STATED OBJECTIVE? Do you think these are good numbers or should i see if they will go lower - these offers were made in the first round of negotiations money direct after i offered 4k to each creditor. Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages.

One of our unpaid credit cards is with our credit union that is 25 miles from us. We are afraid they will sue since its the credit union near us. The unpaid amount is 14,000 and we havent made a payment in 4 months. They have already sent it to a collection agency down the road from them. We have just received a letter from a law firm representing the collection agency saying they are entitled to file a lawsuit if we dont pay them.

The letter also states they are a debt collector attempting to collect a debt. Should we look into consulting with a consumer lawyer at this point?

I defaulted on over a dozen cards totaling six figures. I have a B of A credit card with a balance of 18,000 owed. My only income is a retirement annuity and i do own my home. And if i do receive a summons , is it still possible to negotiate a reduced balance and payment plan? I have a B of A credit card with a balance of 18,000 owed. My only income is a retirement annuity and i do own my home. And if i do receive a summons , is it still possible to negotiate a reduced balance and payment plan?


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My worry is now that these creditors have all gone to collections, will I still be able to get similar or better deals with the collection agencies? Comenity found out about my employment somehow and now they are in the process of notifying attorneys, (I have received pre-attorney letters from them).

I know they were steadfast on not settling when I last spoke to them, so I am just going to wait it out from them. If anyone has any feedback or input on my current situation I would greatly appreciate it - Thanks! You need to get it in writing that when settled that the account is fully satisfied and cannot be sold.

Obviously any kind of settlement offer from these debt collectors I will most definitely get in writing. I was told that if I wanted to settle, that I needed to release financial info such as income, and the reasons why I stopped paying my bills on time. Then I was put on hold several times for a few minutes where the agent kept coming on the line telling me he was transferring me to a verifier.

The verifier basically read some disclosures to me and that was it. I had to basically ask them if I should call back to follow up. They said I would be receiving a settlement letter money direct in the mail if it was approved. From what I understand in order for the creditors to agree on a specific settlement you need to release your financials to them. I pretty much learned from this situation thought to not make the same mistake again. It has been 8 months since my last payment and suprisingly it is still in house. Unfortunately, before I ventured on this website I disclosed employment info with them early on in the process (DID NOT DISCLOSE SALARY). A few months ago I was told that my account was being referred to attorneys and I should be receiving a notification in the mail.

I have received a pre-attorney letter since then from Comenity. They are now telling me that they noted the call as a refusal (even though letter says offer is good for 30 days), and they told me the account could be sent out to attorneys any day now. Is it payday loans in minutes in my best interest to just take care the account and agree to their settlement with OC, to avoid potential lawsuit and not have my credit take a hit? I put together a list of questions based on what I have read on this Forum so far. I have some serious CC Debit issues that need solving and I thought you would be the perfect group of people to help. I have recently graduated, and although I have no student loans to pay back, I did have to compensate with other sources, that being my credit card accounts. Then, late last year, I suffered a severe fracture on my foot, consequently lost my job, and have been hanging on a thread since the beginning of the year.


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I ask that you please see below and tell me if I am correct on my assumptions. On my table, I used the running days AFTER the due date from the month I last made a payment, in September. Question 2: Based on the table above, now should be the time to CONTACT, or answer phone calls to those three on top (amex, amex, and chase) and tell them about hardships (which are many).

Question 3: During this first communication with my creditors, I believe the right thing to do is not to reveal money direct money direct any financial information.

Question 4: When I am talking to my creditors on this 1st set of communications, should I tell them about my other debts? Question 6: Is there any lenience on the part of creditors when it comes to the write-off period? Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages.

Selling an REO is neither a guaranteed nor an immediate return on investment. To earn a profit on the foreclosure of a loan, the bank will need to get paid real money (cash) by re-selling that REO property to a buyer on the open market for at least a price certain. The 2nd lender will make certain the selling price will yield the necessary net sales proceeds. If the remainder is negative, the 2nd is underwater. If the remainder is positive, the 2nd is in-the-money. When calculating the loan balance of the 2nd, do you include all accrued interest there?

The 2nd lender will make certain the selling price will payday instant loans yield the necessary net sales proceeds. If the remainder is negative, the 2nd is underwater. If the remainder is positive, the 2nd is in-the-money. Selling an REO is neither a guaranteed nor an immediate return on investment. I was wondering what Tom or perhaps Evan thought about he mini bubble we are in in California again. I have a 2nd heloc that is underwater but its quickly getting close to being even. Most homes in our neighborhood are being LISTED at way higher amounts than we had in 2006 at the top of money direct the market. Im not sure how this is even possible other than there is a lack of inventory. Ive talked to a few agents and they all say the sellers are very unrealistic. And unless the buyer is making an all cash purchase, the lenders and the appraisers serve as another gateway that prevents the buyer from overpaying. Most homes in our neighborhood are being LISTED at way higher amounts than we had in 2006 at the top of the market.