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Cajun Credit

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  1. I might have to make a tough decision. I am on the fence about taking the settlement. I am worried about going down the risky road of this thing mushrooming into a much larger debt. They just tacked on the court cost of filing the suit after their offer. They even upped a settlement option based on that. But I can still settle for the lower amount by next week. It is still more than what I wanted to pay.
  2. Well the debt was over 6 years old and past the SOL. To them it was probably either get something or nothing. I chose the route to at least be eligible in the future despite having a bad relationship 35 days after the payment clears and not paying in full. I wasn’t going to pay in full just for the semi guaranteed toy less than a grand optima card either. And you have to close it before applying to get a real Amex anyway. I actually don’t plan on rushing to apply, I will let my current trade lines age and let them start sending me pre approvals before testing the waters with them. I am about 2 years into the rebuilding process and have gotten some decent credit lines, but Rome wasn’t built in a day. I have been paying in full on most of my new cards.
  3. I had a balance a little over 2000 from 2016, and just stopped paying. They had been sending me emails to settle and the Optima card if I paid in full. Out of the blue I called, after a few no’s and not interested, and they said that the Optima limit would be 500 dollars, they then offered me a settlement of 500 dollars and I would be eligible to reapply for any Amex depending on my credit qualifications after 35 days after release and payment, not that I am interested now.
  4. To update, I was finally served. I did try to up my initial offer last week, but they have yet to reply. So it is answer time, they included no physical evidence about the debt in the suit such as an old statement or agreement, just an affidavit. In the past, I know some suits would include an old statement in the filing. I didn’t know that it could be that easy to sue and get a judgement just over an affidavit if no one answers the case. So to answering I will do before the 14 days.
  5. They sued in district court. A sheriff’s deputy will serve. Which is what I would want to avoid. Now will happen.
  6. I may just respond to counter the counter offer, and mention their suit and say that I am prepared to defend the case and file my answer with the court after being properly served (not mentioning arbitration in the courter offer), but when I file the answer, I will include the motion to compel arbitration in the defenses. Would it be better to call or write to the attorneys?
  7. Excuse the dots. I don’t want to put too much info out there. Just in case a JDB monitors this forum. OC is The Bank of M*****(Show Me State) for a subprime card, now owned by a JDB, C** Prime. Debt went bad 2 years ago so no SOL luck. Louisiana is the state, 3 year SOL. I was contemplating calling their attorney to raise hell about the suit (their response letter did not mention they were filing, they just gave me a deadline to pay). I also want to seek a lower payoff than was countered and affirm my willingness to pursue arbitration to seek a quick end to this.
  8. I did receive a response from the attorney. They still want about 1600, but made no mention of their suit they just filed.
  9. I guess I will be busy in the next few months filing an answer and seeing if they blink on arbitration. Balance was for 2100. I offered to settle for 1/3.
  10. Back in July I received debt verification form from a creditor’s attorney. I responded by disputing the amount and sending a settlement offer and to respond by mail. I noticed today that they filed suit, yesterday. They did not respond to the dispute or settlement offer. I haven’t been served since it was just filed. Did they violate any rules?
  11. I tried to negotiate with a collection agency for some accounts they acquired in the past year. Unfortunately, they were unwilling to go below about 75% of the amounts that was owed. The debts went sour within the last two years so it is still in the SOL. I have successfully settled other accounts for less from other agencies and even an original creditor. I had some settle for 40%. Should I keep bugging them to go lower, and holding out? Also, they seemed to very pressured to try to get a payment at the end of the call. I also did not feel comfortable making a payment over the phone with them. I also wanted a written letter stating the terms of the agreement before making a payment and would like to arrange a either a Money Order or alternative way of payment that way they do not try to get more than I agree to. So, I am reviewing the numbers that they would settle for and thinking of a payment plan that would fit my budget.
  12. I have been going through a rough financial patch for the past few years with problems managing money. The past 2 years I hit rock bottom but now I can see some of the sunlight of getting out of debt. So far I have worked to pay off some high interest personal loans, and are working towards paying off some credit cards. I was even able to pay off a Wells Fargo card at 40% of the balance this week. I am looking to do more of this paying off debt at a discount. I still have some active tradelines that are in still good shape, but I did let some of my cards go bad as I was thinking about filing for bankruptcy. Based on my income and conversation with an attorney, bankruptcy may not solve my immediate problem, it could prolong it, since it would be a chapter 13 filing. So, I am moving forward without filing for bankruptcy unless one of my creditors starts getting aggressive with a lawsuit. So now, as I am trying to right the ship, I paid off one of my oldest cards last week and it was closed when the statement cut. I am prepared to pay off a few more cards now, but I am afraid that those accounts will be closed or Limits slashed if I pay too much too soon. What should I focus on: keep paying off my current cards which are accruing interest (Current Balance totals 15,000) start paying on a few recent late accounts (Balance on those accounts 7,800) or wait out a few more months on some of this new bad debt to get charged off Continue to hold off paying debt that is nearing 2 Years SOL (7,000) I also have a cancerous CashnetUSA debt that has been ballooning at 300% interest, I stopped paying them a few months ago after it was apparent I would never finish paying it off after paying them nearly 6,000 dollars on a Line of Credit. They recently offered to stop charging the interest in exchange for a full payment of the balance in payments that accrued after not paying them. They still want another 3,000. head back to the bankruptcy route Looking into my debt situation, I can try to pay all of this in 2 to 3 years. My future goal is to be as close to debt free as possible except for a mortgage that has about 7 or 8 years left to pay.
  13. Thanks for your honest information. I knew I should have followed up more on things, but these people could have been a little more courteous especially for the rates they are getting in the end for such a small debt. By the time this is over, I will have paid 4K on a 2K debt. Hopefully, this will pass and based on amount it may be several lean pay periods until this is resolved. I even thought of bankruptcy to get a clean slate for what they are charging in interest and fees. Since I have no assets except for a older model vehicle.
  14. A finance company sued and then won a default judgement against me in Louisiana. I never got served the final judgement. I filed for a continuance before the hearing due to a last minute change at work, but the court must have denied it. I was actually in communication with them to settle the debt over a consent judgment before the hearing. The court nor did the attorney for the finance company call or write to me. to inform me of the denial. Two weeks later, the finance company then opted to do a employment check and informed my employer of garnishment order they were sending to them and then they called me and left a message to call back. The message they left did not say that they wanted payment today or they would seek the garnishment it was just give us a call. I called back today because I didn't get the message they called until after they were closed. They refused all efforts to avoid the garnishment and wanted payment in full because they had already filed it. After I explained the situation with work, my employer called the finance company and then they discussed my account information beyond just the simple garnishment order with them without my permission. Is any of this permissible?
  15. Well, I never heard back from them. Now my Credit report is showing pinnacle litigation group instead of restart. So I know how they got my work number. Since, I have no known connections to this company. I will try to dispute the hard pull.
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