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About mac123

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  1. Hi everyone... Its been a while since I have signed in ... just wondering is anyone has a sample "Motion to compel arbitration " for California civil courts ... I need to file this Motion within the next week ... Thanks ! Mac
  2. Mute ... I had a demur hearing last week ... we checked and there was no tenative ruling as well .... we just went in the morning and checked the calander ... we were done in about 1 hour ... mostly just waiting for other motions ... good luck
  3. I just got served by a JDB ... Looking for advice Here is my short story... Had about 450k in total debt 3 years ago settled about 400k over the last 2.5 years ... never been sued ! until now .... I had one more to go too... it was a Credit card used for our sole prop business... defaulted about 3 years ago .... we were close to settling with the OC but they were being stubborn and we could not agree on a % ... so it eventually got sold off to a JDB ... they have had it about 16 months ...been pretty quite... they would call 1 a month big deal ... they bought debt for prob 5-10 cents
  4. Ive been trying to log on today .... and so far nothing ....
  5. If you are looking to settle before charge off ..... I got a 15 % settlement right before charge off .... about 165 days late on 4 BofA accounts with very large balances .... they gave me the 15 % on all the 4 cards .... they thought I was going to file chapter 7 ..... I did too .... for a while .... they let me pay ove 93 days and the CR will show settled with a 0 balance .... alot of people have got between 15% and 30 % with bofa .... just work it ....
  6. curb I know it is unfair ... but Chase has been reporting us the same way... We have been at this Mod Process for 15 months and when we made our forebearance payments they did not change their credit reporting at all ....still showed us late .... I think 120 days Hopefully they will change it ... our credit has taken about a 120 point drop .... Saving money thou !! mac
  7. vball Citi was a tough one.... each one of my accounts were completely different to settle . I had 1 and my wife had 3 .... I settled 2 with citi directly before charge off one at 25% and one at 15% the other 2 went to a CA ..... one I settled at before charge off at 20% in one payment and one was after charge off at 15 % .... no rhyme or reason ... but they are done !! I honestly think that they saw that we had ALOT of unsecured debt and that we were going to file chapter 7 ..... and I told them we would if we did not get a low settlement. I talked to them 90 % on the phone. I faxed in hard
  8. all of my settlements were with fees and interest some banks really rate jack you .... like discover and citi ... but my 4 bofas did not ???? I dont know why, perhaps they saw that I owed them a great deal of money and they did not rock the boat...... so lets say you have a 10k balance.... after 5 months it may well be 11500 or somewhere close to that.... so my settlement percentages were based on the total balance including fees and interest. but 15 % is still an excellent settlement .... also you should not have to worry about a 1099 if you are insolvent .... such as me mac
  9. Additionally, I settled all my BofAs recently ..... 4 accounts ... amounts - about 80-90k total at 15 % as well .... They were stuck at 25 % for the longest time.... Then right before charge off .... they went to 20 % .... and I worked them down to 15% .... before charge off They let me make 3 payments over 93 days .
  10. B&D I just settled 4 different citi accounts over the last 3 months .... It felt like I was dealing with 4 different banks .... all took alot some effort citi 1 17 k....... settled at month 5 @ 25% directly with citi.... they were stuck at 45% forever ..... citi likes to dream alot ..... citi 2 13k sears citi .... settled at month 5.5 ... it was sent to CA before charge off .... settled at 20% one payment citi 3 about 6 k ..... settled right before charge off at 15 % .... felt very lucky on this one ... it was directly with citi still citi # 4 ..... the big daddy 21k ...
  11. Im in the car business... Even if someone is approved at their credit union.... the dealer ususally has to check the credit worthiness of the customer. Of course they need your permission to pull credit. I had a guy get mad because we had to pull his credit before we accepted a 20k check..... but we had to make sure he had a good credit standing.
  12. willingtocope I did get a settlement letter from CA It was faxed to me It says they will accept the 25 % instead of the full balance as a settlement of the account. Should I be concerned ? It is not on Discover letterhead What could they do ? thanks actually.... they have not got the money yet... It is set to go down late this week. Should I stop it ?
  13. I just wanted to post that I settled my discover last week a 17k balance .... about 6 months late .... not yet charged off... It went to a 3rd party CA .... on behalf of Discover It was only at CA for about 3 weeks...... I was about to DV them and send Arb election letter But I finally neg. a settlement with them ! 25 % settlement !
  14. Didnt Trueq post some results of arbitration with various people over the last 10 months? If I recall the cases of arbitration were pretty well documented.... as much as you can document anything on the internet. I would classify trueq and MG05s results on arbitration as "pretty convincing"
  15. Gator .... Did they sue at 120 days late ? Or some time after that ? Did you prevail at trial ? Who was the lender .... national bank or local ? What was the outcome ?