DK777

He got a letter from Cavalry offering a 30% discount to settle the account, thought their next step would be to sue ? Why would they send this instead ? I’m willing to settle for my spouse but that 5k I don’t wanna pay 3500 max I will do is 2600.. Should I call or send a letter back saying I can offer 2600 and that’s all I can do and ask them to take as final payment ?

Hello Ryan and Thank you so much ! Yes I briefly did some research on this forum and saw that arbitration seems to be the best idea, in the occasion they do sue, I will look more into how to properly invoke it.. Regarding Mercantile, I was automatically assuming they owned the debt, but now double checking on the letter, it says they attempting to collect for Bank Of America , how different does that makes things ? Would you advise still trying to settle both of them or letting it be ? Thanks so much ! *

Hello Everyone, let me introduce myself as D. My husband, lost his job and accumulated some credit debt. One with Citibank of about $5000 and one with Bank Of America of about $10000-12000 (forgot exact amount but is between there.) We live in community property state CA. We were already married when he accumulated such debts, and I fought many times for him not to do it, he assured me he could pay it, here we are, year later, both in collections. One is under Calvary ( the smallest amount Original from citibank) and the other Mercantile adjustments Bureau (10k - 12k BankofAmerica) Up to this