Jump to content

How much to settle for


Bridget
 Share

Recommended Posts

I have a debt that was sold.  I have done the debt validation and they have recently proven themselves.  The debt when they took it over was for $2,100 approximately.  I made about $200 worth of payments before I found out that the debt had been sold.  I would now like to settle this for as little as possible.  Would offering them $300 be reasonable, and prepared to go up to $500?

Link to comment
Share on other sites

I doubt that they would agree to that amount. Sixty per cent may be the best. You are now dealing with a JDB, just fight them instead of paying them. They got this account for pennies on the dollar, you don't owe them. Get on here and read and study, you can learn to win.

Link to comment
Share on other sites

My last payment was, I believe, in June of 2013.  The SOL in my state is, I think, three years, so I am not nearly there yet.

 

Tom, I am not understanding you.  I am new to this, so am no doubt missing something.  This is a junk buyer, no doubt in my mind.  I read on this website somewhere never to offer them more than 25% of the total debt.  Do you think $300 is too low to start?  I do worry that maybe it is too insulting and could make matters even worse. But I figured I could always come up, but can't go down. Thoughts anyone?

Link to comment
Share on other sites

Considering that you mentioned it was a law office, I highly doubt that they are going to settle for anything less than AT LEAST half. Even though you have the option to try (the worst thing that they can do is say no) I would honestly not hold my breath. 

Link to comment
Share on other sites

Whatever you decide to do I think your missing one piece of the puzzle. Who owns the account now. Just because it is with a law office doesn't mean they own it. More than likely a JDB owns the account and has assigned the account to them.

 

Not to mention its almost impossible to answer your question without knowing the owner and more details. All CAs/JDBs have different standards. The amount, the time since the last payment and where you are located, etc. 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.