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Everything posted by DefendantNewb

  1. Yes! Which is why I'm going to call them tomorrow and ask them when they'll be available to furnish me with my settlement letter and receive my check by hand. I'm not signing that thing
  2. Well, the fishy part was that they didn't want to give me my settlement letter until after I paid, and they wanted this consent order signed immediately. What I meant was that the settlement dollar amount was great. I don't quite follow what happened with your case- they charged you a late fee on top of the check you wrote? How can they do that? You wrote a check for a specific amount. Were you able to fight it?
  3. Obviously it's not going away because they simply misfiled
  4. The settlement amount is totally reasonable and I'm pleased with it. I think I should just call them and tell them I'm coming in with the payment, and that I'd like my settlement letter ready and signed. That way I can skip this document altogether and they can't pull any numbers on me
  5. CONSENT ORDER OF CONDITIONAL DISMISSAL WITHOUT PREJUDICE SUBJECT TO REINSTATEMENT The parties having agreed on a final settlement of the issues in this suit; and this order having been intended and submitted as an expression of that agreement: It is herby ordered that 1. This case is dismissed without prejudice as Defendant agrees to pay Plaintiff; through the offices of XX, the sum of XX 2. Defendant shall pay the sum referred to above as follows: XX on or before XX 3. If the above payment is timely made, this action will be dismissed with prejudice 4. If Defendant defaults on the payment, a consent judgement shall be entered against in the amount of XX plus statutory post judgement interest, plus fees, etc. Less any payments.. upon mere filing of an affidavit of non-compliance. Defendent further agrees to waive the right to a statutory appeal period upon non compliance and judgement It seems fishy. They could lie and say they never received their payment, and get a judgement and I wouldn't be able to appeal it! Even if I had a photocopy and a signed receipt? Should I refuse to sign this and just tell them I'm coming in to drop off the payment and I want my settlement letter and the case dismissed with prejudice? Help
  6. Can you afford the lump payments? If you can't afford the payments of three, tell them you can pay in monthly installments until it's satisfied. Have them workout a payment plan for you, they'll do it.
  7. I know plenty of "fighters" will disagree, but in my opinion it's much wiser to settle or make payment arrangements with the original issuer if you can. Once your debts are charged off and sold, you're headed for litigation, confusion, and stress lol
  8. Your post is too vauge for anyone to make any educated suggestions. Bank of America is suing you? Or a collection agency that bought your Bank of America debt is suing you? I would suggest making arrangements with Bank of America if they haven't sold the debt. You're not going to low-ball them any more than what they're offering after you protest. Meaning, whatever their best offer is, you should take it.
  9. That's interesting, the judge was pleased. How wonderful for you lol The judge assigned to my case is a real witch apparently.
  10. What do you want to know seeking, what tricks? When an account is still with the original issuer, i.e. it hasn't been sold to a collection agency, you can settle or pay it off in installments. It's the best thing to do, since the payments will be reflected on your credit, and the debt remains 'secure' in a way, in that it's not floating around out there in the hands of a CA or JDB, it's right where it began and you're doing right by the original issuer.
  11. I tried running a search and sifting through the first few pages of the settlement threads, but nothing seemed to fit. I wonder what they'd try to pull. At this point I have no reason to believe that they're planning on renigging, but I'll expect the worst and hope for the best, that always seems to be the logical way. I'll call the clerk and make sure they've dismissed the case after I've given them the check, and if they sue me again for the remaining balance I'll file the settlement agreement with my Answer, along with the photocopy of the check. A settlement is binding, they can't renig on it if it's worded properly. No judge would hear that. So I'm just going to stay positive
  12. What you propose will never happen, but I see your point. I'd love to deal in cash only, but my paychecks are too large to cash at "check cashing centers." Even though they're payroll, I don't think there's a place out there that would cash them. DD is my only option really. I should start stock piling cash though, and gold, and silver. Paper money's worth the paper it's printed on!
  13. 'So please look over some examples in previous threads if you choose to go the settlement route.' I looked, I couldn't seem to find any threads that listed specifics to do with settlement problems. Or specifically, lump sum settlements before trial.
  14. What sort of agreement did you enter into? Did they obtain a judgement or did you settle before court by agreeing to make payments? You didn't make mention of personal experience, or make reference to the details of the settlement process, so I had no inclination that you were experienced in dealing with it. I simply called the attorney's office, stated that I wanted to offer a settlement, and they accepted my offer. The details were simple, I pay them a lump sum and the account is settled in full and they drop the suit. I only saved about 34%, but I'm cool with it. As for the 1099, the tax I'll pay on the forgiven debt will be far less than paying the entire amount via summary judgement. I guess I'll feel better once I have the agreement in hand, and the check in theirs. The woman I spoke to made mention that she needed to "get the dismissal prepared today and faxed to the courthouse," she seemed eager to get that in so neither party had to show. I'm not exactly sure what the document will entail, but I have a feeling it will be a judgement stipulation. ie, if they don't receive the check I promised to give them as soon as I receive the settlement letter, I'll be liable. Seems fair enough, they're just covering their rear ends in case I'm bluffing. (The hearing is less than a week away)
  15. Great post. I'm pleased to say that I'm finally AWAKE. Peter Schiff, Gerald Celente, Alex Jones.. all scoffed at and considered "extremists," all SPOT ON in their predictions. As for Debt America, I was a contriubtor. Defaulting on my debts was inexcusable. I shouldn't have been overexerting myself in the first place. I do feel rather stupid for doing so. That doesn't make the credit market fair, or the collection process seamless, but I digress. My motto for the past few years has been, 'if I can't pay cash for it, I can't afford it.' I will never make the same mistakes again after falling flat on my face. I do not feel the need to have the latest gadgets, finest clothes, or anything of the sort. So long as I can live comfortably and not go without necessities, I have no desire for luxuries or excessive amounts of "things." In fact, I'm quite the minimalist. I'm pleased to finally see this country for what it often is- a collection of over-eaters and over-spenders, who play victim as soon as they can no longer sustain their excessive lifestyles. Slobs. It's one thing to lose your job, or find yourself disabled and unable to make good on your financial commitments, but the pathetic reality is that most people are just greedy and spend beyond their means. Blame it on commercialization, blame it on whatever entity you please, it's your fault if you're in debt up to your ears. I cannot wait to settle my accounts and never have to think about debt again. Unless absolutely necessary, I will never incur another cent of debt in my lifetime. Extreme maybe, but the risks far outweigh the benefits of big over-stuffed mortgages and car liens. Most people, fiscally sound or not, are in 30 year debt prisons with their unnecessarily large homes and toys. I don't feel like living that way, with impending doom looming over my head if I'm to fall ill or find myself out of work.
  16. and the payment is a lump sum, not payments stretched over a period of time. They won't "process" my cashier's check "late." As soon as it's in their hands, the case is considered settled. A settlement is a settlement, in a court of law they take place constantly. On my 'Final Pertrial Statement' it even lists settlement options, furnished by the court. I don't know why I'm so paranoid, I was just hoping for some solid advice or examples of pre-trial settlement happenings, not general sweeping statements and warnings about consequences lol
  17. You should pay with a certified check, and make a photocopy of it and save the receipt. Keep all your records in an organized file for future use, if necessary. Most CA's will tell you that they "only 'do' electronic fund transfers from bank accounts." This is bogus. Don't let them pull that one on you. They'll accept cashier's checks, and those are much safer than the act of allowing them access to your bank account.
  18. I found this in another thread: "That being said, plan ahead and prepare a Settlement Stipulation to present at trial if necessary. Explain to them there (assuming they didn't drop it at the last minute) that you're willing to either payout a given lump sum or a payment plan that you can afford in exchange for the case being dismissed and all the other usual stuff (tradeline being deleted, promise not to resell, etc). Naturally, to make it interesting for them, you can include a judgment stipulation that says you'll stipulate to a judgment less whatever you've already paid if you default on the payment plan." 50% is great, for an attorney's office. I just made my CA's attorney's office an offer, and they accepted. I'm only saving about 33%. I probably could have low-balled them, but in any event I saved a great deal, and I'm paying far less than the original debt (when it was charged off). I saved myself a percentage of the original debt, and all of the fees and interest. I feel pretty satisfied with that. 50% is excellent for an account that's already in court. Pre-court, I'd say you could stand to save a bit more. But that's irrelevant at this point. Most CA's won't accept less than 50% anyway. I'm waiting for my settlement letter from the attorney's office. I'm going to make sure it includes everything I stated in my previous post. MAKE SURE THEY DON'T TRY AND TRICK YOU INTO SIGNING A CONSENT JUDGEMENT. Armed with that, they'll go ahead and levy your accounts, etc. even if you've "agreed" to a payment plan. Make sure all you're signing is a stipulation, stating that if you default on your payments, you'll agree to a judgement. Big difference
  19. Or that upon payment of the settlement amount that the account would be satisfied, rather. Any help would be greatly appreciated
  20. Has anyone had any experience with this? I called the attorney's office and made a settlement offer, which they accepted immediately. They're in the process of putting together the settlement agreement, along with something about a dismissal that I have to sign (it must state that if I do not pay them the settlement, they'll sue me again. I'll have to read that one carefully), and that's apparently that. Once I receive the letter I have to review it/sign it, etc. and mail it back to them and they'll dismiss the case. Are there any documents I should have them sign? What should the settlement agreement say? To make sure the debt isn't sold again, and that the original issuer, original account number, etc. is listed clearly and that the settlement amount completely satisfies the account and I have no further obligations of any kind to any party regarding the account. I'm nervous they'll still pursue a judgement for the "rest," is that common? Or are they usually good about their settlement agreements? I made it clear that I needed the settlement letter stating that the account was satisfied before I'd remit any form of payment..
  21. Thanks for the kind words, I take back what I said about the CA's probability of losing. It's any body's guess as to what would happen if I chose to fight it in court, and quite frankly, that's the last thing I want to do or have time for. I don't have enough knowledge at this point to walk in there confidently, and the bottom line is, I'm a debtor and this debt is legit. I'm currently in negotiations with the attorney's office for the CA- I made an offer, they accepted. It was for substantially less than what they were demanding in relief. Yay. Now I'm waiting for my settlement letter and their dismissal request that I have to sign and return to them (to end the suit). So if all goes well this will work out smoothly and will dissipate into the far reaches of my traumatic compartment lol. I just have to make sure they furnish me with the appropriate documents to submit to the credit beaureus in case the CA refuses to update my status as settled in full. I feel like there's just too much to learn in too little time. I'm overwhelmed. I have the money to pay them, and they've agreed to drop suit and give me my letter stating the account is satisfied, so I just assume make good on it.
  22. Settling is a great idea if you can afford to. You don't want to risk a judgement for the full amount. Make sure you document everything. Who you're dealing with, her name, etc. Have her email and fax you the settlement agreement in the form of a "settlement letter," along with a clear statement that the account is satisfied and you no longer have an obligation to Midland Funding. Make sure the original issuer's name, the original account number, etc is in the letter. If you're sued by another collection agency by mishap, you'll need details to prove the account was already satisfied and settled in full. Also, make sure you get it in writing that the CA will update your credit report as "settled in full."