boundaries1
Junior Member
What is the name of your state? Texas
MBNA debt of 10,500 owed and has been sent to attorney's office for collection. Attn'y is calling asking questions if we are: filing bankruptcy, consider selling home to settle, wanting us to turnover as much money we can in order to take funds to table with MBNA for consideration, but won't tell us settlement amount upfront. Attn'y has said they have already assessed our property and asked if we had retained an Attn'y to represent us.
Also, collecting attn'y advised that he can go to MBNA with approx 50-65% funds for consideration to settle debt final, however states they may not accept our funds as settlement amount, but yet want possession of our funds first. Is it wise to turnover what we have available not knowing a specific settle amount? They can decide to keep our funds and not call the debt final.. and pursue more (this is what their attn'y stated.) We have not committed to a specified amount of funds. What are your recommendations to proceed?
Update:
As of 11/11/05, we thank everyone who has responded to our thread and appreciate your input. We have just found out through caller-id this company is not an attn'y office and in fact, a collection agency located in Houston Texas. The collection agent is a LLC (limited liability corp) called Penta Financial with website: www.pentagroup.us/index.htm.
We will be sticking to the advice of requesting a letter of settlement to be put in writing before consideration of any resolution. Caller id is a wonderful technology.. and for the first time, their call did not come in as out of area!
MBNA debt of 10,500 owed and has been sent to attorney's office for collection. Attn'y is calling asking questions if we are: filing bankruptcy, consider selling home to settle, wanting us to turnover as much money we can in order to take funds to table with MBNA for consideration, but won't tell us settlement amount upfront. Attn'y has said they have already assessed our property and asked if we had retained an Attn'y to represent us.
Also, collecting attn'y advised that he can go to MBNA with approx 50-65% funds for consideration to settle debt final, however states they may not accept our funds as settlement amount, but yet want possession of our funds first. Is it wise to turnover what we have available not knowing a specific settle amount? They can decide to keep our funds and not call the debt final.. and pursue more (this is what their attn'y stated.) We have not committed to a specified amount of funds. What are your recommendations to proceed?
Update:
As of 11/11/05, we thank everyone who has responded to our thread and appreciate your input. We have just found out through caller-id this company is not an attn'y office and in fact, a collection agency located in Houston Texas. The collection agent is a LLC (limited liability corp) called Penta Financial with website: www.pentagroup.us/index.htm.
We will be sticking to the advice of requesting a letter of settlement to be put in writing before consideration of any resolution. Caller id is a wonderful technology.. and for the first time, their call did not come in as out of area!
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