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Just got contacted by a Mediation Firm: does virtual mediation, Does it work?


slavenomore
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Just got contacted by a Mediation Firm that does virtual mediation, Does it work?
 
Situation:  Considering BK7 no asset,   got filled on for 17k so far. 
 
Creditor 1 - 17K  - they offered 40% but i did not have it.  - sent them 2 Certified letters asking for better offer, no answer. THEY Filed suit for 17K,  however No service yet. 
 
Creditor 2-  44K  - they offered 30% but I did not have it.  - sent them 2 certified letters asking for a better offer, no answer, never heard from them yet. 
 
Creditor 3 card up to date - was keeping in case I could settle, also is my bank so a mess to switch. 
 
Did not have the 14K total to settle.  -  Tried to get them to settle for less rather than nothing if i BK7
 
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Was about to do last ditch settlement offer of 2k each creditor
 before i bk7,  from form i found in NOLO
But was just contacted for possible mediation from a company. 
 
 
 
 
1) anyone ever use this company or this kind of company?
2) What do they charge for a fee? 
3) How does it work? 
4) What are the gotchas of mediation? 
 
All wisdom, experience, tips, welcome!  
 

 

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Lol. no tell me how you really feel! 

 

I really appreciate your candor.   

 

I am beginning to think my intended result of settling for 20% or less and preventing BK7 , because of medical,  may be a fantasy.

 

When they offered 40% and 30% I thought they would pitch it to the JDB and they would go lower.

 

Instead they never even replied and creditor 1  filed suit. although i am not served yet.  

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If you haven't done so yet, get a consult with as many bankruptcy attorneys as it takes to find one who tells you all reasons why you shouldn't file, as well as all the reasons you should. At that point, you should have a very clear idea on how to proceed. In any event, steer clear of anyone offering debt settlement services.

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If you haven't done so yet, get a consult with as many bankruptcy attorneys as it takes to find one who tells you all reasons why you shouldn't file, as well as all the reasons you should.

 

 

This is great advice thanks!   any advice on how to choose a good bk lawyer in chicago?     also if you want to try one last settlement, will they do that for you before BK? 

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