Due to hardships we ran up credit card debt and the ones we couldn't pay off when my husband retired are now coming back to bite us.
Most of the info in these forums are OLD.
We are already in SJ in 3 cases (and $3K in legal fees that we didn't have!) and making small monthly payments.
Cut to the chase:
I recently received 2 letters from PRA saying 2 different charged off CC accounts "have been referred to the litigation department". One is a second notice.
Now my husband went and sold his dream car this week so we can may be get these settled. I tried to call hem this afternoon about 10 minutes before they closed but they were already closed of course.
In my research I see these JDB's are:
2) in business to make a profit:
3) will sue for as little as $500
4) paid appx 8 cents on the dollar for this debt:
5) WILL sue if I can't get them to settle.
The accounts were all in my name.
SO I am going to call them and tell them the truth:
1) I have no regular reliable income (TRUE) or I would ave been able to pay this off (TRUE) and/or make arrangements before:
2) I live on my husband's fixed retirement income (TRUE);
3) I have a medical condition and physical limitations form that that make it hard for me to get a job now (TRUE);
4) I sold some things and borrowed a bit from a family member to raise some cash to see if we can put this issue to rest.
And offer them 16%.
Any help with verbiage will help. I know I need to make them think I am not with pursuing. Which I'm not. I'd like to get this off my back but I will NOT give these crooks the full amount as THEY DID NOT PAY THE FULL AMOUNT.
(BTW SOL doesn't apply. Last payments made on my CC's were Sept 2015.)
I need to also follow up in writing. Where can I get some sample template letters for that?
And if this fails and they still sue me, will asking for arbitration help? Both accounts were with Synchrony bank, one about $3500 the other $6500. There are posts in this forum about using this as defense but if they were losing cases by that method in 2010 I can bet they have changed the strategies or rules to favor the JDB's by now (This is AZ after all!)