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Everything posted by CFPWNY

  1. The more I think about it, the more I am starting to consider just letting them sue me. After speaking with the close friend who is an attorney, he was tossing around Ch. 13. My wife and I make a good deal of combined income, so Ch. 13 probably wouldn't help us too much other than put our spending under a microscope. After reading posts of experiences of others on this forum, coupled with the fact that I am planning on law school in a few years (I want to shift from being an IT professional to a career in law), I may be able to use this as a learning experience. If these JDB's can be beaten
  2. Well up until this particular issue my credit was impeccable (around 800). I already have a house, mortgage and auto payments are always 100% on-time, and I don't have any other revolving debt. The issue with this CC was entirely my decision -- the CC was formerly owned by one huge bank and sold off to another. Shortly after the sell-off, my interest rate jumped so I sent the new CC holder a rather vent-induced letter demanding the APR be lowered back to where it was, or I was done paying the monthly on it. The APR was only lowered a by 1/2% so I stopped paying it. I knew that once the card we
  3. @BV80 - Not that I recall. To be honest I was away from home for several months and if my wife thought it was junk mail she could have very well thrown it out.
  4. One last question - am I best sending all mailed correspondence to the law firm or CACH, LLC directly? I plan on sending them a 15% settlement offer and will likely use the form posted on this website. Thanks again for all the helpful posts.
  5. The law firm's address is in the letter. LAW OFFICES OF HAROLD E. SCHERR, P.A. 1064 GREENWOOD BLVD., SUITE 328 ATTORNEYS AT LAW LAKE MARY, FLORIDA 32746 WWW.SCHERRLAW.COM HAROLD E. SCHERR (FL, GA, NY) ALEX MCCLURE (FL) PHONE: (407) 995-3000 JOSEPH A. RANIERI IV (GA) TELEFAX: (407) 995-3100 TOLLFREE: (800) 858-8736 Harold E Scherr does show up in the NY BAR search. He was admitted in 2012. He's listed as residing in Lake Mary, FL. As for expectations of how I would pay, they wanted my ABA Routing and account number over the phone.
  6. Just email so far - the email included a PDF attachment which was the letter they sent. I copied and pasted the text verbatim from the PDF letter. Last payment I made on this account was October 2012 (balance was at $7300), I'd have to go back at the statements and look to know for certain, but it's been 9-10 months since I've made a payment on the account. The card went into collections after 3-4 months of missed payments. I lost track of what went on with it because I was on overseas business travel from January-June. The law office representing CACH left a couple of voicemails last month
  7. Well I've responded to the law firm representing CACH, LLC via email. I've asked them to add a provision to the settlement letter regarding CACH, LLC guaranteeing that they will not under any circumstances sell or assign the forgiven debt to another d/b/a or collection agency, etc. Also, I've asked that the collection account information be removed from my credit report (not expecting them to agree to that, but figured it wouldn't hurt to ask). So are you sure there is no room to haggle at this point? Is the 45% as good as it gets with CACH, LLC?
  8. So junk debt buyers aren't required to issue a 1099c, even though more than $600 is being forgiven?
  9. Should I respond through email or by letter only? Want to make sure I don't take the wrong approach... Thanks for all of your input so far.
  10. The letter does not contain verbiage stating anything about selling or assigning the forgiven portion. Here is the content of the letter: "As you are aware, this office represents CACH, LLC, current creditor and owner of the above-referenced account. This letter is written to confirm your recent communication with this office. Our client has agreed to accept the sum of $4,xxx.xx in full, final and complete settlement of the entire balance due and owing on the subject account. The payment(s) are due in our office no later than 7:00 pm EDT on August 30, 2013. If the agreed upon amount is not
  11. I became delinquent with payments on one of my credit cards (owed about $7000 on it) and it went into collections with CACH, LLC after 4 or 5 months of missed payments. Because I was delinquent on this particular card, the amount owed ballooned up to over $10k. Cach, LLC is being represented by the law offices of Harold E Scherr, and gave me a settlement offer today over the phone at roughly 45% of what is owed. They also emailed me a copy of this settlement offer. Of course the woman on the phone (who was polite) wanted to rush me into accepting and paying this amount asap, otherwise the offe