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Call or write letter to CA or CA's attorney to settle?


jmartin
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Need some advice regarding settling a judgment, hopefully for less. Would it be better to call or write a letter to: the collection agency; or their attorney? I don't have a problem either way, just thought it might be a better idea to have everything in writing.

 

Here is some background: 

The OC was MBNA for $4,500 in 2004. The debt has passed from MBNA to Hilco to Columbia and now Sacor. Columbia filed for arbitration in 2005 through NAF, and confirmed award in 2009. Applied to garnish wages in 2012 and again in 2013. Sacor now has a judgment, garnish and lien against me, supplemental proceedings coming up next month. I have never been notified of any of the above and the judgment doesn't appear on my credit report. I am currently unemployed, no money, nothing to sell. However, I think I can borrow some money from friends to payoff. Any advice would be greatly appreciated.

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Why would you want to get deeper in debt by borrowing? They can't get blood out of a turnip, tell them so, and good by. Hopefully, when it comes time to renew the judgement they won't. Or worst case you may end up having to file BK and that will take care of it down the road.

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When you start paying these people you might end up getting in deeper than you realize. If you handle it on your own do it all in writing. Send everything CMRR through The USPS. 

Since it sounds like you are willing to pay I would make sure whatever you do makes it final. Many end up paying something like this and then later on get sued by someone else in the future. Be very careful! 

 

I would check with a couple of consumer attorneys before you give them anything. Many will give you a free first consultation.

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How is your credit?  If it's already trashed by this, why pay them? All it's going to do is put you further in debt.  As it was pointed out, you can't get blood out of a turnip.

 

I sure wouldn't contact them. They will use anything you send, say, write, do, etc against you. Let them come to you. Let them put things in writing. My guess is that they won't. It could implicate them further down the road.

 

I wish there were something I could do to help out.

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