Offered to pay....

[BlindInNC]

My State: North Carolina
Collector's State: Ohio

I have a credit card debt that's been turned over to a collector by the name of "Law Office of Larry Roach" in Copley, Ohio. This debt is a valid debt.

I called them today to offer to make payment arrangements and met the usual rude and condescending tone of a bill collection agency. The only offer they would accept is that if I offered to pay the debt (around $3k) in full.

While it's not a particularly large debt, I don't exactly have that kind of money laying around.

What are my options?

[Betty]

Since it is a valid debt, you need to pay it. If you don't, they can take you to court & get a judgment against you. They can then seize non-exempt assets, garnish wages - whatever is legal in your state.

[BlindInNC]

Originally Posted by Betty

Since it is a valid debt, you need to pay it. If you don't, they can take you to court & get a judgment against you. They can then seize non-exempt assets, garnish wages - whatever is legal in your state.

I want to pay it. The problem is that I cannot pay it all at once like they want me to. So again: What are my options?

[Kanchazi]

Read this link and try to use the info:

[url]http://www.bankrate.com/brm/news/cc/20031020a1.asp[/url]

[BlindInNC]

Originally Posted by Kanchazi

Read this link and try to use the info:

[url]http://www.bankrate.com/brm/news/cc/20031020a1.asp[/url]

Thank you! Hopefully this will help me out.

Another question:

If I try to negotiate this debt, should I do it through this lawyer, or through the creditor that bought bought this debt from the OC?

[Kanchazi]

I would try and negotiate the debt yourself, or maybe a family member can help you. As far as a lawyer that would be up to you of course an attorney would be a good negotiator, but you would have to see how much he would charge, To see if its worth it.
Try telling the CA that you can borrow $1000 and if they settle for that you will agree. They only paid pennys on the dollar for youre debt. They are probably making $900, if you settle for a $1000.

I just reread your Question you mean negotiate with lawyer who sent you the letter, If he is the one who owns the debt or represents owner of debt then he would be who you
Speak to.

[Ladynred]

How old is this debt ? When did you last pay the ORIGINAL creditor ?

NC has a short 3-year statute of limitations and that could give you some leverage in your negotiations if the SOL has expired.