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-   -   Served papers for credit card (https://www.askmehelpdesk.com/showthread.php?t=696371)

  • Aug 23, 2012, 01:41 PM
    rosieislinda
    Served papers for credit card
    I was served paper work from he district court by the Sherri's dept. I called the attorneys office that sent this and the had the info from bank of America credit card that I owed. They say I owe 6000 and per my records that is correct. I am trying to get them to take less. I know I owe this a giod idea to pay this off?
  • Aug 23, 2012, 01:54 PM
    Fr_Chuck
    This is the issue?

    How much actual money do you have in the bank to write them a check ?

    Are you working and how much do you make at your job?
    ** I don't need to know this but think about it.

    If you are working with a couple thousand in the bank, why should they settle for less, they sue you get a judgement, they get your bank account money, all the money you have in the bank and then 25 percent of your paycheck each week.

    So what is their motivation to settle ?

    Perhaps all of the original amount, minus all of the additional collection fees
  • Aug 24, 2012, 06:52 AM
    ScottGem
    It depends on who owns the debt. If BoA still owns it I doubt if they will settle. But if it has been charged off and/or sold, they may be willing to settle.

    The problem is they will only settle for a lumpsum payment.

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