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Just trying to figure out what to do - follow up from below


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Posted by Sean (216.189.167.219) on June 04, 2003 at 04:45:45:

I thank those who wrote some advice to my post below.

I am trying to figure out what my next step should be.

To recap in brief, Amex claims I owe them $9500 or thereabout. I believe they have charged me the wrong interest rate for years and hence stopped paying after numerous fights with them over this. My first late payment according to amex was back in Feb of 2000 but I then made some on time payments after that. I defaulted for good in 2001. The card is listed as a charge off on my account.

Yesterday I got a call from Gumminwick and Associates (Or something like that) in Andover MA and they answer the phone as Law Office, but the guy I talked with says he works with the lawyer and was not one. He said what they do is prepare cases and distribute them to attorneys in the right local. He offered me a settlement for $4900 and said he knew I had the money - knew I went to MIT, went to med schoool, etc... I could pay this debt now, but feel I should only have to pay what I fairly owe. Additionally, if I pay I want it off my credit report. he said he would not take it off if I take his settlement and gave me a bunch of crap about how he would sue me and the judgement would be on my report for 20 years and how a settlement would look good and yadiyadiyadi.

In any case, what should I do now?

The way I see it, I have several options.

1. Send this Gumminwick and Associates a letter asking them to verify the debt. As attorneys (Not sure they are) and not a collection agency (Not sure they are not) are they required to verify it before being able to collect it/ sue me?

2. Hire an attorney down here in Miami and let him deal with it? Anyone know a good one?

3. See if they actually serve a suit - if they serve a suit I am assuming that their settlement option would still exist... Would I be wise to call Gumminwick and ask them to send a written copy of the settlement terms to me? They said I had 1 month to comply with it....

Basically my goal is to avoid a judgement on my record - it would be stupid for me to get one as I have the assets and would lose them. On the other hand I can't get them to agree to remove the item if I settle.

Any advice?

Thanks!

Sean


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