Discover Card

[prettymono]

What is the name of your state? MN

Let me first say, if you are 18 years old, do not get a credit card and do not get a Discover Card.

Okay, so I have had Discover Card since I ws 18, and am 25 years old now. I stopped paying in April 2007 and, obviously, have been getting calls and letters. Well, I received a letter in the mail that said at the end of September they were sending my account to an attorney. I called them today and said I had to make a huge payment otherwise it was going to the attorney. I couldn't make the payment, so I said if that is what has to be done. Now, it is about $6,000 (has been the same amount for 7 years), and I do want to pay it. I made the debt, I want to pay it off. When the attorney contacts me, which I am assuming will be less than 30 days, can I contact the attorney via mail asking for the payout amount and get the cash to pay it off without having the judgment/court intervene?

Also, what does a judgment do for a credit score? How about when the credit card sends it to an attorney?

Oh, and I did ask for a payout amount and they said 60% was the best they could do, even though they could do 40% in July....I am kicking myself right now...

Thank you in advance!

[HomeGuru]

[quote=prettymono;1731694]What is the name of your state? MN

Let me first say, if you are 18 years old, do not get a credit card and do not get a Discover Card.

Okay, so I have had Discover Card since I ws 18, and am 25 years old now. I stopped paying in April 2007 and, obviously, have been getting calls and letters. Well, I received a letter in the mail that said at the end of September they were sending my account to an attorney. I called them today and said I had to make a huge payment otherwise it was going to the attorney. I couldn't make the payment, so I said if that is what has to be done. Now, it is about $6,000 (has been the same amount for 7 years), and I do want to pay it. I made the debt, I want to pay it off. When the attorney contacts me, which I am assuming will be less than 30 days, can I contact the attorney via mail asking for the payout amount and get the cash to pay it off without having the judgment/court intervene?

**A: yes, by all means contact the attorney and work out a payment plan.

[Ledrak]

Well, I'm not an attorney. But I will say that I have a lot of cc debt with many different creditors, and they have all been turned over to collectors. But out of all of my delinquent accounts, Discover is the ONLY creditor so far to have filed suit against me. So expect them to come after you if you cannot work something out with them.

[HomeGuru]

Originally Posted by Ledrak

Well, I'm not an attorney. But I will say that I have a lot of cc debt with many different creditors, and they have all been turned over to collectors. But out of all of my delinquent accounts, Discover is the ONLY creditor so far to have filed suit against me. So expect them to come after you if you cannot work something out with them.

**A: Yup, dems bad ass creditor.

[prettymono]

Thanks for your replies. I am not an attorney either, only a paralegal, and should be wiser. I have just gotten so frustrated that I have been paying $200-$300 a month for a credit card that is 7 years old and I have not used it in 7 years. OH, and the balance is actually MORE than it was 7 years ago (the last time I used it.) Wow, if I could go back 7 years.... So basically I've paid between $16,000-$20,000...

I assumed they would be coming after me with their attorney. And, like I stated, I will pay, start saving my money so I can pay it off...if only it happened closer to tax season

[efflandt]

Originally Posted by prettymono

...if only it happened closer to tax season

Why is that? If you regularly get a big tax refund, you are letting Uncle Sam borrow your money interest free all year. If you adjust your W-4 form for just a small refund/payment, you might have a little more money every paycheck to pay down your debts.