Kohn Law Firm/Now what-just submitted DV Letter

[ppodmama]

In September this year discovercard charged off. I submitted a debt settlement offer letter via certified/registered mail, so I know it was received. Never heard from them and got a letter from Kohn Law firm, (the standard collection letter, including the 30 day notice to dispute).

Am I to assume Discovercard didn't want to accept my offer or did they just charge it off. I wanted to pay the full amount ($12000) owed in 60 months or less.

I did the DV just to buy time, as I want to settle, but am trying hard right now to keep our house, so doing a big money lump settlement just isn't an option.

I know Discovercard is vigilant in pursing payment so....

Do I offer the same settlement to Kohn?

Do I offer less?

Wisconsin has a law that will allow debtors to go to court and get 36 months to pay any debt, but I'd like to avoid the expense of hiring an attorney.

Should I maybe offer to pay in the 36 months?

I just want to committ to what I am sure I can do, and that only.

[legal_loansharking]

You did a DV, usually a collection attorney will show his cards, he will probably send you the last statement prior to chargeoff from Disc.

Remember the economy is really bad right now. You are not alone in a pile of debt. The attorney processes the parerwork to get paid. A reasonable settlement with an attorney is not a bad thing, but get it in writing prior to anything.

If he responds to the DV request with a lawsuit you have the attorney for continued collection activity.

Typically attorney's will work with you, if you fought and went to court and lost and had a judgment, you can make payment arrangements with the collection attorney so he doesnt have to execute the judgment.