Who to negotiate settlements with?
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Posted by confused
(64.105.25.230) on March 31, 2003 at 17:05:43:
I'm way deep in debt and can no way pay the entire amount off. I spoke with an attorney and she said I qualify for Chapter 7, but I don't want BK staying with me for 10 years. I'm planning to borrow a chunk of money from a relative and attempt to negotiate with the creditors for settlements on the condition that they take out any negative marks on my credit reports. My question is: Who should I negotiate with (with charged-off accounts)? Some accounts have been charged off and sold to third party CAs. One OC said I could deal with the OC even though he said the account was sold to a CA. Should I deal with the OC? Other OCs who sold the accounts referred me to the CAs. Can I still negotiate with the OCs? And others have not sold the accounts, but a CA is handling them. Do CAs have the power to speak for the OCs and give me my terms? Thanks for the help!
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