Secondary Debt Buyers - Combined Settlement?

[Indy17]

Hello,

I have a 3 secondary debt buyers sending me letters from their lawyers. Is it a bad idea to make a combined settlement for debt buyers? Should I make a settlement separate from the primary creditors I still have?

 

Thanks,
 

 

[Harry Seaward]

Who are the OCs for the debts that are with the JDBs? If they have arbitration clauses in their agreements, I'd wait to get sued and then hit them with a demand for arbitration to send them on their way. 

[Indy17]

I don't believe the JDB's have any debt from a card that has a arbitration clause.

-Citibank

-Cabelas

 

[WhoCares1000]

Citi might or might not have an arb clause.

What bank is the Cabelas card with (the stores rarely issue their own). If it is with Synchrony Bank then it is almost guaranteed to have an arb clause.

[Harry Seaward]

14 hours ago, WhoCares1000 said:

Citi might or might not have an arb clause

The current Citi agreements have arb clauses, and they did at least as far back as 2007. The challenge with the Citi agreements is the "small claims court" exemption they use in them. 

Cap1 backs the Cabela's card so arb is out on that one.