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Gettinout last won the day on September 1 2006

Gettinout had the most liked content!


  • Interests
    Growing up, My wife and kids deserve it.
  • Occupation
    Building a small business from scratch.

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  • Location
    Northern California

Gettinout's Achievements

Impressive 100+ postings

Impressive 100+ postings (5/6)



  1. The OPs question about writing only one check could be aswered by online bill payment, or a separate bank account. If a Person were to negotiate with each creditor a compromise and then offer monthly payment via an electronic draft from a separate bank account they could then write one check to fund that account each month. The creditors seem to love the concept of E Drafts and access to your account. Might it lead to a better outcome of negatiations? The other option could be online bill pay in which the payments are scheduled to automatically be sent. Either way, the creditors access to you personal funds would be limited by the separate account or the online bill pay. Just my thoughts Gettinout
  2. Perhaps Sifxpert will respond to this. I was able to settle with MBNA (pre chargeoff) easily for 30%. BofA settlement was for 50%. If you are sure there are no CAs invovled these two, in my experience are pretty easy to deal with. Be sure you do your homework on this site. Paying these off wont remove them from from your CR. It might however give the impression that you do take care of your obligations after a hardship. I dont kow much about employment screening so these are just my thoughts. Gettinout
  3. Start reading and dont stop for a while. There are pros and cons to settlement and Bk. Once you've gained enough info you'll be able to make your own decision. Do you have any cash available to settle some or all of these accounts if that is what you decide to do? In my opinion if you have a long history of good credit debt settlement may offer a quicker solution to repairing your credit after you get out from under the debts you can no longer pay on. As far as the OCs you're dealing with, MBNA will likely be the easiest to settle with, while Citibank may be a nightmare. Search Sifxpert in profiles for his knowledge on the individual OCs you are dealing with. He is a professional negotiator who has shared extensive info here. Keep asking questions as you learn. Good Luck Gettinout
  4. Any update on this situation?
  5. In my hometown in the early 80s, thieves put a padlock and an out of order sign on two night drop boxes. They then chained their own drop boxes to the building with instructions to use them. Many business' lost their deposits. I dont know if the bank covered the losses since they were hard cash and checks. I dont think I would spot most of the devices pictured. Recently we have had a rash of thefts a gas stations involving scanning devices and people with binoculars to aquire pins. Dont think it is just bank ATMs that are at risk. Gettinout
  6. I'm in a similar situation with business debt. If you were incorporated and didn't sign a personal gauranty, you should be succesful in removing this from your personal credit history. You'll probably have to fight them either way. The debts of this type I've dealt with so far were disputed with the OC and went away quickly. They were small sums. Good Luck Gettinout
  7. I called the rep listed on the collection letter. She has not returned my calls. I contacted the bank I originally opened the account with and spoke with a new Merchant Acct rep. Though he didnt say so, it sounded like there was room for reversal or negotiation of the fees due. I imagine I will have to pay this and go after my partners widow. This may be the beginnings of some legal battles for me since there are likely some large debts owed. Whether or not I signed for them I suspect I will have to defend myself against some future attacks. Gettinout
  8. Hey Doc, I could use some help. I just received a demand from NDFC regarding a processing account associated with the business I resigned from in Nov 2004. The widow of my former business partner closed the business in Feb 2006 and left a balance of $500 with NDFC. I may have signed a personal gauranty on this but have no docs in my hand. Any suggestions? As a follow up to merchant processing for my current business, I went with Nova through the Costco program. I purchased a used Omni 3210 on Ebay for $125. Nova claims the only way to use the built in keypad for pins is to send another machine. They want $99 for and encrypted pinpad which would attach to my machine. I have signed up with CrossCheck for check gaurantees. .8% fee and no monthly minimum. Anyone have any experience with CrossCheck? So far, So good. Gettinout
  9. beoram Go to my profile and search my posts. I settled with MBNA for a sum nearly as large as yours. As for working with a settlement company, be very careful. There may be as many bad settlement companies out there as there are bad mechanics. Sifxpert, whether he owns or works for a settlement company, has assisted me succesfully and has my respect. Make sure you have educated yourself on the pros and cons of settling. In my case it worked as I had planned. Good Luck Gettinout
  10. Sifxpert, I imagine your business is incorporated, therefore you would be a W-2 wage earner, I.E. EMPLOYEE. Nice Try!! Gettinout
  11. I went through a similar situation with a B of A settlement. I called and was told the account was sent to the wrong dept and would be corrected. I was also told any time a settlement is made it takes about three weeks to show on the books and to receive a confirmation. Three weeks later I received conf. and no longer heard from B of A. Did get a 1099 of course. Gettinout
  12. I tried Spamland once, took the kids. Wont go back cause you cant wash the smell off for weeks.
  13. Dive, Was that the money you had to pay back taxes on? If it was what steps did you go through to dispute with the IRS and what was their decision based on? Gettinout
  14. The 1099cs are nothing personal, it's the law these days. Be sure to consult an accountant and or search the IRS website for discharged or forgiven debt. In some cases it is not taxable income. Gettinout
  15. My experience has been that the calls will occur repeatedly during the day if you dont answer. Once answered the people I have dealt with have not called again until the next day, or even several days. All my accounts were OCs. CAs may behave differently. Gettinout
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