Hello and welcome.
I am sorry to hear of your difficult situation. My goal is to provide you with excellent service. First, I have some questions for you so I can determine what information to provide you.
Thanks for responding. I have not previously attempted to set up an agreement with either party. There were a few times that they offered amounts less than the total owed as a possible settlement, but I did not respond.I do have the means of setting up a payment arrangement. I make a solid salary, but just have some events from my past that have caused me current financial difficulty. I'm interested in pursuing whatever is the best way for making happen, whether it's pre-court date (preferably) or in court.I wish I knew how much my debt was purchased for so that I knew what would be a fair amount.
I hope this helps clarify the situation for you.
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Three quick follow-ups if you're able to help:
1) Should I contact the company who bought the debt or the law firm representing them (my assumption is that the company wants to save on the lawyers, so I go to them).2) How do I waive service? How would I communicate that.
3) Could you offer a ballpark for what I should consider for a lump sum settlement? The account was closed two years ago. Or if a monthly plan, what would be a reasonable payment?Thanks again,Mike
Hello again, Mike. You are very welcome!
1) Should I contact the company who bought the debt or the law firm representing them (my assumption is that the company wants to save on the lawyers, so I go to them).
ANSWER: The company will likely refer you to their attorneys and if you are served at some point, it is typically appropriate to respond to their counsel, not the party directly.2) How do I waive service? How would I communicate that.
ANSWER: There is a document the creditor would typically have you sign if you agree to waive service. Make sure any agreement you settle on is in writing and signed by both parties to ensure the creditor does not later change their mind on the terms of any agreement you enter into.
3) Could you offer a ballpark for what I should consider for a lump sum settlement? The account was closed two years ago. Or if a monthly plan, what would be a reasonable payment?ANSWER: That's not something I can provide, not having the opportunity to review the case, but it might be around 50% of the debt owed. If the debt could be paid off in a couple of years, that payment plan would normally be reasonable.
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