Re: follow-up to CAK

Posted by CAK (66.140.213.145) on November 21, 2003 at 02:54:56:

In Reply to: Re: follow-up to CAK posted by WhyBother on November 21, 2003 at 01:41:52:

If your going to be sued, it shouldn't be for another 6 to 9 months. Then you may just be required to go to a setting. At that time you need to request at least 4 more additional months. In other words, if your were sued in say June of 2004. You need to ask for the last available date in October 2004 at the setting. If they ask why, tell them to obtain counsel and expert testimony.

This is just my opinion, but I don't believe they will sue, because of the way your credit report looks. They would much rather go after someone that has potential.

Use this time to save money you would otherwise be making payments with. You may make an offer in writing to settle for say 100.00 per 1000.00 of debt and tell them this is all you have in savings. Give them a specific amount, I.E., I have only $700.00 with interest, in which to settle all five credit card Co. that are pursuing me. Tell them I believe at least one of the five will settle in full and will delete their Trade Line. Also tell them you have already made offers to all and are awaiting the first one to reply. Make sure all offers are in writing and include deletion of their Trade Line.

I did this in the beginning and was very successful with this approach. Most just passed it on to the next CA and it bought me more time. Do this only if you want to settle with them. Or you have the choice of doing nothing and letting the CA make the next move of which I don't believe will be for quiet some time, if they do.
I hope this helps.

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