Jump to content

Arbitration - Cavalry SPV in California


mrb0x
 Share

Recommended Posts

1 hour ago, mrb0x said:

They attached a settlement agreement which was sent in response to a settlement offer received from me (previously rejected). The agreement they sent me states a totally different amount (20%). They state that it will close with a signed agreement from me and payment as detailed.

 

6 minutes ago, mrb0x said:

The offer is not in the hundreds, so looks like I will need to push a little bit more. I will take your advice and reply back to JAMS and the attorney to send a counter offer again.

I may have misunderstood your prior post.  You state that the percentage offer in the settlement agreement (attached to today's email) has a totally different amount than the settlement agreement that they previously sent you.

Is the percentage value in the settlement agreement (attached to today's email) higher or lower?  Is it drastically unlike any offer they've made to you before?

Link to comment
Share on other sites

12 minutes ago, Pericles said:

 

I may have misunderstood your prior post.  You state that the percentage offer in the settlement agreement (attached to today's email) has a totally different amount than the settlement agreement that they previously sent you.

Is the percentage value in the settlement agreement (attached to today's email) higher or lower?  Is it drastically unlike any offer they've made to you before?

Hi Pericles,

They have not made any offer before this one to me at all. From the very beginning of this, before they filed suit, I reached out to them with a settlement offer (roughly 25% of debt, 75% discount) myself to just get it out of the way, in which they rejected. They then filed suit, and now we're here. They sent me an offer to pay 80% of debt, which is 20% discount. 

Thank you

*Edit* I have now just received an invoice from JAMS, asking for the $250 filing fee. and also stating the lawyers pay $1250. lol

Link to comment
Share on other sites

I mistook the discount percentage for the offer percentage.  You're further apart than I thought when I made the two prior posts, so take that into account when reading those posts.

If they have represented to JAMS that you've accepted an 80% offer (20% discount) when you haven't, then you should make it clear to JAMS that such statement is a misrepresentation.

Link to comment
Share on other sites

@Pericles @fisthardcheese

This is suprising. As I sent my reply to the JAMS Manager regarding the email and settlement offer, the attorneys have actually emailed me back stating that the settlement offer they sent was incorrect, and rather that they have accepted my original offer. 

I sent this offer on 05/01/18 for $500 (with removal of tradeline) of the $1900 debt. They originally rejected and filed suit.

I'm quite satisfied of the outcome of everything, however I feel that I now have leverage over them and would be even able to settle for a lesser amount, including the removal of tradeline and would state that since they rejected my original offer that it is not on the table anymore.

Do you guys think this is feasible? 

I'm really suprised at the outcome of this and am feeling empowered now that I have this leverage. Haha.

Link to comment
Share on other sites

Did you not send an offer of mutual release when you filed JAMS?  Maybe I mistook your $500 offer for that.  Well, it is up to you how you want to proceed.  To me, they rejected your offer when they instead filed suit and now that you filed in JAMS I would say things have significantly changed since that initial offer.  Just as an aside, it is always wise to include an expiration date with ANY settlement offer (for anyone else reading). I always let them know my offer expires in X number of days.

If this were me, I would counter and explain that now that they have filed suit and I have counter claimed in JAMS, the previous offer is expired and if they wish to settle you will be happy to mutually dismiss all claims with prejudice.  Otherwise, you are free to accept their offer and be done with it, but I would at least ask that the $500 come with a dismissal WITH prejudice of their court case.

If this settles before you pay the $250 to JAMS, then you only need to send an email to JAMS stating that you withdraw the filing (since it's not officially filed until the payment is made).

Link to comment
Share on other sites

8 hours ago, fisthardcheese said:

Did you not send an offer of mutual release when you filed JAMS?  Maybe I mistook your $500 offer for that.  Well, it is up to you how you want to proceed.  To me, they rejected your offer when they instead filed suit and now that you filed in JAMS I would say things have significantly changed since that initial offer.  Just as an aside, it is always wise to include an expiration date with ANY settlement offer (for anyone else reading). I always let them know my offer expires in X number of days.

If this were me, I would counter and explain that now that they have filed suit and I have counter claimed in JAMS, the previous offer is expired and if they wish to settle you will be happy to mutually dismiss all claims with prejudice.  Otherwise, you are free to accept their offer and be done with it, but I would at least ask that the $500 come with a dismissal WITH prejudice of their court case.

If this settles before you pay the $250 to JAMS, then you only need to send an email to JAMS stating that you withdraw the filing (since it's not officially filed until the payment is made).

Great! Yes, I countered with the same, I'm sure they won't accept a $0 offer, so I cut my initial offer down to $250, with a mutual dismissal with prejudice and deletion of the tradeline.

They have accepted the offer! I've attached it here, with some info redacted. Could you review and let me know if things need to be taken out or added?

I'm assuming #4 is what you explained about it being dismissed with prejudice.

Really appreciate it!

They haven't dated or signed yet, should I have them sign and date first and then tell them I accept?

 

Thank you

 

settlement agreement and release.pdf

Link to comment
Share on other sites

It looks like a good settlement agreement to me.  Pretty good move going for $250, since you would have had to pay that to JAMS anyway. So you are getting out of it for the same price and it allows the attorney to save face a little with his client at the same time. :)  Yes, you get the dismissal with prejudice, and a full release of liability and removal from CRAs. That's as good as it gets.

Congrats!

  • Like 2
Link to comment
Share on other sites

14 hours ago, mrb0x said:

Want to say thank you to all and the forums here.

I will agree to the settlement offer, I will ask them to sign and date first before I sign.

 

Thank you again!

I would not worry about who signs first.  The standard procedure is to sign this if you agree with it and return it to them.  They are not going to like you complicating it with pettiness over "signing first".  This is a solid offer of settlement and it's not like they are going to play a "gotchya" game and change it after you sign it.  And even if they did, you still have the court available to enforce the settlement as written if needed (which is very rare, and I've never seen it needed on this site even with the worst of the worst JDB attorneys).

Just sign it and return it.

  • Like 1
Link to comment
Share on other sites

9 hours ago, fisthardcheese said:

I would not worry about who signs first.  The standard procedure is to sign this if you agree with it and return it to them.  They are not going to like you complicating it with pettiness over "signing first".  This is a solid offer of settlement and it's not like they are going to play a "gotchya" game and change it after you sign it.  And even if they did, you still have the court available to enforce the settlement as written if needed (which is very rare, and I've never seen it needed on this site even with the worst of the worst JDB attorneys).

Just sign it and return it.

Haha, I guess you're right. I signed it and sent it over.

Again, thank you for the advice and guidance!

Link to comment
Share on other sites

12 minutes ago, Brotherskeeper said:

@mrb0x Congrats! Welcome to the "can't talk about it" club.  :)++

Thank you! I must applaud you for your efforts and thorough help with the other poster. I've been following that thread too and can say you deserve a whole lot of applause! 

  • Thanks 1
Link to comment
Share on other sites

2 hours ago, Goody_Ouchless said:

Sorry, I got here late. I probably would have added language to the effect that this was nuisance payment and NOT a debt settlement. If you get a 1099, come back and we can deal with that. Congrats!

 

Thank you @Goody_Ouchless. I'll make sure to update if I do receive a 1099. Although not stated in the agreement, I do have an email from attorney that states they agree to accept my offer to settle this matter in full, dismiss case xxx, and dismiss arb. Doesn't this mean it will be considered as settled in full? 

 

Link to comment
Share on other sites

On 6/6/2018 at 5:58 PM, Goody_Ouchless said:

Sorry, I got here late. I probably would have added language to the effect that this was nuisance payment and NOT a debt settlement. If you get a 1099, come back and we can deal with that. Congrats!

 

I don't think he will get one.  I never did for these type of settlements.  I think the language that says OP is released of all liability should also mean that the portion of the debt that went unpaid he is "not liable for", which is different than "forgiven".

Link to comment
Share on other sites

  • 3 weeks later...

Just wanted to update and finally say that the case has been officially dismissed! Took a couple of weeks, but I'm happy!

image.png.86c99a6d7d138577ec7ebf2094280c31.png

Again thank you all for your support and advice!

Now to just get that collections off my credit report!

  • Like 1
  • Haha 1
Link to comment
Share on other sites

9 minutes ago, mrb0x said:

Just wanted to update and finally say that the case has been officially dismissed!

Congrats, again - great feeling, right?

On 6/7/2018 at 9:00 PM, fisthardcheese said:

I don't think he will get one.  I never did for these type of settlements. 

re: 1099 - we didn't get one when a case was settled and they wiped out debt and paid us, but we did on one where we wrote a check. 

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...