Re: approaching charge-off...settlement?

Posted by Why Chat (209.240.222.130) on July 13, 2002 at 17:57:11:

In Reply to: approaching charge-off...settlement? posted by Todd on July 13, 2002 at 16:16:42:

In general, your chances of dealing with the OC depend on what your credit report looks like. If they feel they can insure full payment plus all their added costs by suing you and getting ajudgmnt lien, that is what they will do. If they think there is little chance of collecting on a judgment, or if they figre you might declare BK, they will settle. You MIGHT consider getting a BK lawyer to negotiate for you --that seems to work best.A couple of $$ for legal services, sending out some letters on HIS/HER letterhead will work wonders.

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