Up a river.

[riversofsound]

What is the name of your state (only U.S. law)? Indiana

First let me preface this by saying,"If I only knew then what I know now"
I wouldn't be in this mess. *sigh*

Ok in 2001 I got a Bank of America Card, Immediately maxed it. I was making payments 50-60 bucks per month, and of course having the interest rate I did the balance went up faster than down. in 2003 I called the company negotiated getting the interest rate lowered, they agreed that if I paid $59 per month for XX months they would.. They didn't! But it was because I was 1 day late ONE month.. Whatever. I kept paying my 50-60 bucks per month for quite some time. 2004 rolls around and my $3,000 credit limit card(that I hadn't used in 2 years) is up to like $3,100 I tried to negotiate SOMETHING with them, because I am obviously getting no where, no dice this time so I say screw it, I stopped paying, and here I am today in 2008, being sued for $6,027.76 to be exact.

Earlier this year when I got my first letter from the Lawyers office I sent them a "proof of validation" request, I then got routed to another lawyer, whom I sent the same proof for validation of the debt, which I got in return, although didn't get the exact information I'd requested, but who am I kidding, I DO owe the money, although I find the $6K to be excessive.

I'm kind of trying to figure out what my options are.. Do you think there is any hope of negotiating for a smaller amount? I can offer $2000, which I will have to borrow, but I know I can get. But do I have that kind of option at this point? I have about 9 more days to "file an answer through the court" And I'm at a loss for ideas.

My husband and I are struggling right now because I lost my better paying job, and I'm making next to nothing. I am afraid of wage garnishments, I'm just hoping there is some PRAYER that They might negotiate with me..

Thoughts?

ETA: What would you suggest I say in "filing my answer"

 

[cosine]

I DO owe the money, although I find the $6K to be excessive.

There are a lot of costs involved in carrying out collections efforts, legal efforts, and in many cases just eating the loses. People who pay on time, even if not in full, are not the ones that pay for those costs.

I'm kind of trying to figure out what my options are.. Do you think there is any hope of negotiating for a smaller amount? I can offer $2000, which I will have to borrow, but I know I can get. But do I have that kind of option at this point? I have about 9 more days to "file an answer through the court" And I'm at a loss for ideas.

There are always options. I doubt you can get it below 50% if you are currently employed. They know if they get a judgment, they can (probably) get wage garnishment. You could offer them a payment plan, but they know you have history of stopping payment.

My husband and I are struggling right now because I lost my better paying job, and I'm making next to nothing. I am afraid of wage garnishments, I'm just hoping there is some PRAYER that They might negotiate with me..

The only way to know if they will negotiate is to contact them. But under NO circumstances should you fail to answer to the court (unless the COURT specifically notifies you in WRITING that the case is dismissed or delayed).