clarification

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  1. Thanks for your insight. I'm assuming you mean this for when they have already sued and we have to go to court, correct? How about negotiating with them for a small settlement and removal of tradeline and never resell before they sue?
  2. Hi Art, thank you for you comment. I hear you on having Cavalry prove they own the account, but I have the feeling that since it is a sizeable amount under 4k , that they will go through the hoops to get Cap one to give them what they need to support a lawsuit against me and then add thousands more in fees. I verified with Cap one that they sold it to them and it also says it on my Transunion credit report; "Sold To Cavalry". What do you think? I keep reading some people having succces DVing Cavalry and them going away and deleting their TL, but I have the feeling those were little amounts not worth the trouble to them. On 4k, don't you think they may just get what they need from Cap One and sue me? If I knew some poeple who owed them that much had success with a DV letter and them just giving up, then I would do it, but only to get them to agree to a ridiculous settlement so that they don't sell it and I start worrying about another impending lawsuit. Thoughts?
  3. thanks for your reply. I remember a couple yrs ago this forum was very active.
  4. Hello guys! Sorry for the write up!! A couple of years ago I settled around 5 credit cards that were charged off and the OC hired CA to collect. I settled for between 10% and 15%. I was also sued by Discover and ended up settling before the court date for 16%. Some here would cringe at the fact that I paid, but at the time I really wanted to get this over and didn't want to chance another lawsuit and the stress. 2 yreas later I am still left with a few charged off accounts that would not budge and wouldn't agree to a low settlement. Two still with OC and another sold to Cavalry. I am considering settling with them and get it over with. Citi finally accepted a 15% settlement in writing after I called the executive office and the CA is now just waiting for my payment. They will not delete the tradeline and will report as paid for less than owed. None of the OC accepted deleting anything. On another one, I confirmed with OC that they sold to Cavalry 4 months ago, so I am waiting for them to call me in order to negotiate a super low settlement. I won't pay unless it is 10% of original balance and ask for complete delete of their tradeline in writing since they are the ones reporting the TL. I know the drill to pretect myself get in writing that they won't sell the remainder balance etc.. The reason I am needing your input is beacause, I keep reading "DO NOT PAY" over and over, so I wonder about this and obviously think if I do not pay what are the consequences for me. At this point the SOL for the ones left for me to settle will expire in 2017, but 3 more years is still a lot of time to be on the lookout for lawsuits, especially when I moved out of state and I might not even find out I was sued untill it is too late. I do not want to have to call the county clerk every week either for the next 3yrs. Also, if they sue me, I would have to probably hire an Attorney if at that point they don't want to settle before court and that is money I could have used for a low settlement to get it over with soon instead of shooting the can and be on the lookout. Even if the attorney stops the suit, they can still sue me later right? or even after the SOL has expired if I do not address the debt and settle. ( I know they can sue even settling if they sell the balance and are shady, but at least I would have proof and is more rare to happen vs never paying and getting sued is more probable) Sorry for the write up, I guess, what I am trying to get is your argument as to why I should not settle these accounts. I In my situation I am trying to avoid possible lawsuits since I am not in my home state anymore and might be surprised with a default judgment, unless I constantly worry and check to see if i've been sued. I am thinking settling buys me peace of mind and helps me move on. For those of you who have decided to not settle as your strategy and assuming this is your legitimate debt, are you guys not worried that this will come back and bite you anytime when you least expect it as a lawsuit? If you were able to pay and settle for small amounts isn't paying worth to you to get peace of mind and not having to deal with the courts, attorneys, and the time it takes to get this resolved? these is what I am asking myself now. Please, I appreciate you reading this long essay and hope you can give me your perspective. I need it, since I have no one to talk about these things.. Thanks a lot!
  5. Hi LionHunter and Clydesmom, congrats on achieving your goal of getting your credit cleaned up! I'm looking up to you now!! I am trying to get started with cleaning up my credit as well and wonder if I will have any real impact on it. I settled several credit cards back in 2012 that were showing charged off and then Settled for less than full. These were with citi, boa, chase and discover. Is it possible these days to attempt to get them deleted by disputing them online with the credit bureaus via their websites vs mailing certified letters? What is the approach to start with charged offed credit cards that are settled with the OC? Should I try the "not mine" or try something like "date of late pymt is incorrect"? Is this worth a shot? they are not coming off until 2018 and I would like to enjoy good credti again. Best!
  6. Thank you both for your reply. I have been reading so much that it actually hurts, Lol.. I had a few if you don't mind. 1) The agreement you posted for me to download Linda. It has Jams and it is for 2009. BUT the only place where there is a date on the agreement is on the "Pricing Schedule" which has a disclaimer stating this is only an example and one will get the true terms based on the offer I applied. Can I use this agreement when sending my MTC as valid? Won't they be able to say I just had a sample that that real one doesn't have JAMS etc..? 2) I defaulted in 2011. Will they dig up the 2011 without JAMS and dismiss my request? Where on the 2009 shows that I can still use the 2009 agreement for the future? 3) I've read that when you notify the attorney before filing with Jams, they might just go ahead and file with AAA. Should I just file with JAMS, pay $50.00 and just mail that to the Attorney and Discover, then file the MTC with the court? 4) "We will not invoke our right to arbitrate an individual claim you bring in small claims court or your state’s equivalent court, if any, unless such action is transferred, removed or appealed to a different court" Is this mean I can't file for arb if sued in small claims? Which I have? Sorry for exhausting you... too much reading creates a lot of questions thanks a lot
  7. Thanks for your reply. They sued me in small claims court. Which is a bit different from what I read most memebers here posting about with them having to send a response and whatnot. I did not get anything to send back to the court, just a court date to show up. How do I get still have to send a MTC to the court and request a hearing or how do I get JAMS started in this case? Should I just Appear in court and give the MTS or MTC to the judge that day? I am afraid I missed a deadline for something here not knowingly. thanks
  8. All offers have "settled in full if received by such and such" so you think these are good offers then. Assuming that the OC follows through and comply with what's on the settlement.
  9. oh yeah.. I am gearing up.. the ONLY thing that I would like to know better is whether it is worth to settle now on a few like 1) BOA on a second mtg that settling for 10% and that would release the lien on the 2nd. Any other way to fight this one to get it released for less than 10%?? I'm all ears.. 2) Chase.. they offered 20% on two accounts. If I fight them, will I get a better deal? 3) Discover.. I am gearing up to follow with JAMS.. but then again.. will it be worth it? Can i expect them to settle for like 10% even at the arbitration? they offered 60% now to NOT go to court. that is my dilema now.. thoughts
  10. thank you guys,, and Linda for the Agreement. So on a balance this small can I expect that the Attorney will be offering me a low Settlement, if so, historically with Discover, what can I expect? I am trying to figure out if all this time I will be investing in fighting this account is worth it in savings and risk. Worst case scenario would be to let the arbitration determine the amount? in that case, how is a settlement determined and why would it be favorable to me? thanks
  11. thank BV80... I read them through before posting.. thank you .. that was really helpful info from Linda. What I really would like to see is what kind of numbers I will be looking at based on members' experience only.. i know no one can tell me for sure, but since I was offered to settle for $900 on a 1500 balance, I wonder how much better I could do by going the arbitration route.. I know I have to pay at least $250 for my fees with JAMS (it it is jams) but read some paying zero and getting it forgiven,... or is it more likely to get an offer for a 10% or 5% settlement prior to arbitration or after? that plus my fees for JAMS. So much info.. everywhere.. I need to relax.. thanks
  12. Linda, any chance you take a peek at a thread I just started regarding arbitration when you get a chance? thanks a lot sorry couldn't post a link due to not having 20 posts yet!
  13. Trying to decide if Arbitration is right for me vs just settling for 60% before court. In a nutshell: Discover sued me and I was served a week ago. I tried settling with them for months but they never allowed an offer better than 80% (the attorney's CA) and now after they sued me about a week ago I was able to speak with the attorney and he agreed to settle for 60% and would move the court date to November. I have to pay the 60% by then in order to get this settled and out of court. I have yet to receive this "settlement offer" in writing in the mail, since it was just agreed upon last last Friday. Can I turn things around at this point and push for arbitration or since I discussed settling, now I am in a bad position and arbitration wont get me a better deal to settle? If It is advisable to choose arbitration, what kind of money am I expecting to pay them in the end? the balance is around $1,500 and they want to settle for $900. I've read some people getting it completely forgotten, and paid zero and settled for good or am I mistaken and they just had to deal with it later with another agency anyways? I just want to get them off my back for good so I can start over with my life. Any help will be incredibly appreciated! Ps: I called them to get the Card agreement but Discover refused to give it to me. How can I get it and should I get the 2011 or 2008 (when the card was issued or defualted)? thanks a lot!