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FoolMeOnce

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  1. "Otherwise they will go through Arbitration and try to recover their fees and transfer the arbitration award into judgement. " Yes that is what I thought too. Good advice. Thank you.
  2. UPDATE: In June, attorney offered $2846 (50%) to settle; I countered at $1000, but he didn't budge; so I filed for MTC arbitration. In August, the judge granted my MTC; attorney didn't argue at all. The next day attorney emailed me with an offer of $2000 (30%); I again countered with $1000, then $1200, but he still didn't budge. So I opened my case with AAA. Before the initial fees of $500 were due (to be paid by OC), I offered $1200 again - he still held at $2000. So now, the attorney did not file a response to my case but I assume the fees were paid as we are past the due date. This is my first attempt at Arb, so I am needing some advice on how to proceed at this point. So far, an arbitrator has not been assigned. Do I need to submit anything now? Can someone please give me an idea of what to expect during the conference call? I don't really have any violations or good reasons to question this debt. Do I need to raise any issues during this initial meeting? Thank you in advance for your kind answers and suggestions.
  3. I received it pretty quickly, about 20 days. I'm filing for MTC Arbitration tomorrow; Interestingly, I checked the court records online in LA County and searched civil cases that included Discover. I found that from April thru Aug 30 2000, there were only 30 cases filed; from 9/1 thru 12/31/20, there were 3757!! Ouch. From 9/1-4/30/21 there were 6787. This is just one major city; multiply that by 20-30 cities around the country and they have to be unbelievably busy, I can't imagine them keeping accurate records on so many cases; And they will probably be more open to quickly settle, I'm hoping.
  4. I just settled with MRS Associates (CHASE); Total Owed $12,697 on two cc accounts; Their offer letter to me was $2031 for both; I called and basically told them my situation: "not working due to Covid, need to settle 6-8 other creditors, don't have a lot of money, I am calling a few today to see who will work me with me, I only have $1500 to work with right now and I'm hoping we can work something out." I didn't mention the letters, so the rep tried to offer $3000 for just one of the accounts. I just said, there is no way I can do that, I only have $1500. Then she came down to $2000; I held at $1500; she transferred me to her 'supervisor' who I again told my story to. She came back and offered $1650 to settle both in full - that's 13%!!! She emailed the settlement letters, did a payment over the phone and that was it. I did verify with Chase that MRS took over the accounts just to make sure they were legit before I called them. I was nice and pleasant with the reps, no need to be mad or overly aggressive - they are just doing their job; and imagine if you were in their shoes. I also waited until the end of the month to call them; this was the only the second offer letter they sent me; the first was for $3000 for both accounts, so it does help to wait a bit. This was my first attempt at negotiating to settle and I just want to give hope and confidence to others so you know it is definitely possible to get a good deal, especially in these difficult times.
  5. I agree. I'll continue to post as I progress on this journey. I'm learning a lot here. Thanks again!
  6. Thank you very much for your replies and advice. These are all personal credit cards; however, some purchases made were for business inventory. Would that cause them to be considered 'business cards'? And I agree, this is a pretty low offer, so I will probably take it so I can focus on the other cases.
  7. I have 10 credit card accounts totaling about $60K, no payments made for the past 10 months - my business was closed (and still is) due to Covid in CA. It seems most accounts have been charged off and/or sold because I'm starting to get letters from 3rd party collectors; So far, Discover is the only one who has sued me for $5600. Today, I received a letter from MRS for two accounts(Chase Bank) totaling $12,500; they included an offer for a lump sum payment of $2031 to settle both accounts due by 4/28/2021. That seems pretty good to me - its 16%. But I know if that is their first offer, they will probably go lower. Should I accept this offer or hold out for another month or two? Does anyone have any experience in dealing with them? Thanks in advance!
  8. I'm being sued by OC (Discover) using the law firm S&H for $5600. I already filed my Answer. I then received their "Request for Admissions" on 4/13/21 and I have until 5/18/21 to respond. After reviewing many posts have, it seems using Arbitration would be my best strategy. My goal is to settle this for about 40-50% or lower if possible, of course; they already offered to accept $3900 before I filed my Answer. My question is: Should I send a letter to S&H requesting that we mutually agree to Arbitration? Or should I just file the MTC? Also, do I need to respond to the Request for Admissions? Should I include a statement in my letter to them that I will wait for their reply before I respond? This is my first case, so just want to be sure I don't mess anything up. 😀
  9. Hi BornFree- In CA, when you file your response to their initial complaint, you have to pay $225 filing fee; after that, I don't think you have to pay anymore; you just have to answer their request (and send your own) directly with S&H. Just be sure to file it before the 30 days deadline. Good Luck!
  10. Hi, I'm in a similar position with Discover, but I waited/ignored the calls until they sued me - I had no money to settle or pay at the time anyway. I owe $5600. Before I filed my response, they offered to settle for $3900 or make payments for the full amount over 48 months. I just received their 'Request for Admissions' two days ago. Our hearing date is set for Feb 2022. There was never any mention of arbitration. I am in California. I'm being sued by Suttell & Hammer on behalf of Discover Bank. So, at this point, should I try calling to settle or send my response to their Request for Admissions? I'm not sure how to answer those, but I can post what they asked for and would appreciate any advice on that. Maybe in a new thread?? My goal would be to ride this out and hope to get the lowest settlement possible, as I have a few other creditors who I will probably be hearing from soon too. I can afford to pay about $3000 right now. Thank You!
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