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Everything posted by xcskickingit

  1. Thanks for all the info. I'm reading thru the strategies & steps of arbitration. Its a lot of info and a little confusing at first. I thought that I had to initiate the arbitration before being sued and that if they reach the point of suing me then arbitration went out the window. So, I don't have to choose arbitration right now. I can wait until they sue?? In the meantime, can I call them and negotiate a settlement? Is that the best step to take right now?
  2. Is there an example of a request to arbitrate letter? Do I send the letter to the Discover address at the top of the letter they sent? Or do I send the letter to the address in your post and include a request that they pay up-front arbitration cost? Discover,PO Box 30421, Salt Lake City, UT 84130-0421. Do I need to initiate the arbitration and register with JAMS?
  3. Due to surprise heart attack last sept, have limited self-employment income & big medical expenses + husband unemployed. Hanging in & able to pay for current living expenses/medical/prescription. But, stopped making credit card payments on Discover Card with balance of just under $14k (mine), Citibank $16k (husband), GE Capital $3100 (husband). Until now we've not answered any calls or letters. Citi & GE accounts have been charged-off. Discover shows 120+days past due. We know that this will negatively affect our credit and we'll live with that. No need for bankruptcy as we are paying mortgage & 2nd, car loan almost paid off & current, credit card issued by our bank is being paid on-time. Just figured that they'd all charge-off and eventually stop trying to collect. But, have been doing a lot of reading on-line and it appears that we'll likely be sued so maybe being pro-active with settlement might be a better game plan. Last week received letter by usps priority mail (not certified) from Discover Card. Titiled "Attorney Placement Pending". Says they are going to proceed with Legal Action if we don't hear from you by July 31 and acct will be forwarded to attorney to obtain a judgement against you. To stop action call immediately to make acceptable payment arrangements. Call now before your time expires. Sincerely XXXXX, Cardmember Assistance, Discover Card. What to do now? Do I call Discover card and discuss settlement? (I can come up with $3-4000)Do I send a Debt Validation letter?I know that Citi & GE have sent the account to collection agencies but we've never taken their calls and I haven't saved their letters.Will it eventually get sent back to OC and they sue us?When to discuss settlement with Citi & GE? Thanks so much for any help
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