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RelayerPA

Advice on a settlement strategy

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I was reviewing papers sent by a JDB as proof of a debt. They highlighted final amounts on the last prepared OC card statement before charge-off. The full amount claimed by the JDB is about $2200 for principal and $2200 in interest and other charges that were accrued.

With this in mind, should I target and negotiate a settlement amount based on the principal amount only, then offer for example, $1000 for settlement, as opposed to half the total amount principal and interest? Is there any success with others doing so?

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28 minutes ago, RelayerPA said:

I was reviewing papers sent by a JDB as proof of a debt. They highlighted final amounts on the last prepared OC card statement before charge-off. The full amount claimed by the JDB is about $2200 for principal and $2200 in interest and other charges that were accrued.

With this in mind, should I target and negotiate a settlement amount based on the principal amount only, then offer for example, $1000 for settlement, as opposed to half the total amount principal and interest? Is there any success with others doing so?

Is the JDB demanding same amount as the charge-off balance?

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Don't worry about what is principal and what is interest right now.  The JDB paid their money on the entire debt, NOT on the principal or the interest part of it.  

The point is, the alleged debt is $4400.  They probably paid anywhere from $200 to $500 for the debt, less if it is close to being SOL.  Anything over and above that would be profit.  

Would they accept an offer of $1000?  I have absolutely no idea.  JDBs do funny things.  One time I offered a JDB 100% of what they were demanding if they would delete the information from my CRAs, and they never even replied.  

Some JDBs would jump at $1000.  Some would make a higher counter-offer.  Some would demand 100%.  

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