I agree the amount is a little low to file bankruptcy on, but then everything is relevant, your income is also very low, and you do not want to be sued.
Debt settlement is usually not a good way to go, most of the companies that do that are scams, taking large fees and not settling any debts.
You could do it yourself if you had some money to offer them, medical bills will usually take a significant reduction but you have to be prepared to send them the money the same day after you make a agreement. They usually do not let you make payments on agreements.
Will these collection agencies, like NCO, delete the collections account from my credit report if I pay a 'pay for delete' fee? Is Brachfeld Law Group a collection agency that buys debt or are they representing a collection agency?
They will not delete them, they will show them paid for less then owed.
If I was a able to pay some of the small ones, like for $80, in full, would they be more willing to delete? Also, how do I send them money? I have read that one should not give a collection agency banking information. What is the role of the Brachfeld Law Group?
They still probably will not delete it even if they tell you they will, and do not give them your bank information and they will hound you for it, you can send them a money order, or a western union.
And who are Brachfeld? Do they actually buy debt or just represent a collection company?
Not sure, they probably bought the debt, that is usually how it is done.
Since these are indeed medical bills, at what percentage do you think i can settle for, best case? I have heard 50%, or even up to 70% if the debt is old. For example, I have $954 from back in 2007. If I propose to send them $350 asap to settle if full on $954, how likely would they be to take this? I heard collection companies buy debt for pennies on the dollar.
Start at 25% and do not go higher then 50%
Very well. One final thing. If I was able to in fact get these 20 collection accounts settled and on my report it showed that it was 'settled', would that look better then bankruptcy to settle this to a potential employer? Thanks for your help.
I think it would be hard to get them all settled, but it would look better on your credit report, very few employers look at credit reports.
Really? I have $2500 to work with now and have a total of $5600.00 in medical bills. If they are willing to settle for approx 40%, wouldnt that make it possible to settle more easily?
If you have that amount in cash then I think you have a good shot at settling them especially since they are medical debts, they are usually more willing to negotiate, even if you ended up having to pay some of them in full which would be okay, definitely give it a shot, you will just need to be persistent.
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I do have one final follow up question. In addition to the above mentioned debt, I do have, according to my credit report, $14,900 debt to US Bank. HOWEVER, back in 2008 I hired a settlement company (perhaps a bad idea) and had the work out a settlement. I had 2 accounts with US Bank at that time, one was a line of credit, and one was a credit card. After several months, I received a letter via email from US Bank that all my accounts are considered 'paid fully' and are now closed. But, according to my credit report, the credit card with US Bank with a $14900 balance still is there and is written as a 'charge off'. I disputes this via the three credit agencies and it came back 'verified'. My concern is that they will sue. If I have an email that says all accounts are paid and closed from US Bank, should I submit that to them or wait to see if they sue??? Thank you for your help today!!
The email does not list the numbers, but instead says that all US BANK accounts are now considered paid in full and closed. With that work?
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