nuvision Posted January 6, 2008 Report Share Posted January 6, 2008 I just received initial contact from collection for a credit card debt, which I've not paid since 8/2004. I've been ill, on disability and have no income for the last several years. I want to settle this to some affordable amount. My question is, should I send DV first, then negotiate? Or would it be better to just offer to settle?My debt amount is little over $29k, I can afford to pay about 3-4k. What should my approach be to get them to accept this amount?Thanks! 1 Link to comment Share on other sites More sharing options...
Amerikaner83 Posted January 6, 2008 Report Share Posted January 6, 2008 Well It's ALWAYS smart to DV. Even if you want to settle down the line. Link to comment Share on other sites More sharing options...
Jason Posted January 7, 2008 Report Share Posted January 7, 2008 nuvision this part of your question is very interesting."My debt amount is little over $29k, I can afford to pay about 3-4k. What should my approach be to get them to accept this amount?"I am curious to the answer also. Link to comment Share on other sites More sharing options...
Robert Nashville/Savannah Posted January 7, 2008 Report Share Posted January 7, 2008 I just received initial contact from collection for a credit card debt, which I've not paid since 8/2004. I've been ill, on disability and have no income for the last several years. I want to settle this to some affordable amount. My question is, should I send DV first, then negotiate? Or would it be better to just offer to settle?My debt amount is little over $29k, I can afford to pay about 3-4k. What should my approach be to get them to accept this amount?Thanks!If you have no income (and don't expect any other income for a long while) other than disability and if you have few if any assets then I am not sure I would settle at all...if all you have is disability income then you need whatever cash you have.Before I did anything else, I'd check with an attorney and/or someone in your area who can advise you - if you have nothing that can be taken/attached through a judgment then it really doesn't matter what the creditor does.In other words, making sure you needs are taken care of should be your first priority; a CC debt should be just about last on your list of things to worry about. Link to comment Share on other sites More sharing options...
nuvision Posted January 7, 2008 Author Report Share Posted January 7, 2008 I own a car, and I have a house mortgage under my name but the title is not in my name. Is this something I need to worry about in California? Link to comment Share on other sites More sharing options...
Robert Nashville/Savannah Posted January 7, 2008 Report Share Posted January 7, 2008 I don't know California law but there are others here who do (hopefully they'll chime in here).However, I believe CA law is fairly consumer friendly so I doubt you have anything to worry about.That siad, I'd always double check with an attorney; even if it costs you a few bucks...the advice here is good (especially my advice ) but I wouldn't make important legal decisions (whcih is what we are really dealing withe here) without the advice of a real attorney who is familar with the law where I (meaning you) live. Link to comment Share on other sites More sharing options...
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