N
nneedofhelp
Guest
What is the name of your state? Texas
I recently received an Arbitration Claim Form and Offer of Compromise from an attorneys office trying to collect a credit card debt. To make a long story short we are financially in serious trouble and are barely making ends meet. After months of repeated phone calls this particular creditor wanted me to make "arrangements" so, since I had to respond to their claim w/in 30 days, I replied - in writing - that I would accept their offer but could only pay a minimum of 15.00/month on this $5,500.00 debt.
In the mean time, our situation has worsened. I have now received another letter from a creditor represented by a new set of attorneys wanting a lump sum on a $15,000.00 debt. If this continues, my minimum payments will be in the hundred dollar range a month - something we simply cannot afford.
After just finding this msg. board. My question is it to late to ask for "validation" on either of these two debts and future ones? Esp. if these creditors are already being represented by attorneys and not collection agencies?
Or, should we try to beg and borrow the money to file bankruptcy?
Any advice would be greatly appreciated.
I recently received an Arbitration Claim Form and Offer of Compromise from an attorneys office trying to collect a credit card debt. To make a long story short we are financially in serious trouble and are barely making ends meet. After months of repeated phone calls this particular creditor wanted me to make "arrangements" so, since I had to respond to their claim w/in 30 days, I replied - in writing - that I would accept their offer but could only pay a minimum of 15.00/month on this $5,500.00 debt.
In the mean time, our situation has worsened. I have now received another letter from a creditor represented by a new set of attorneys wanting a lump sum on a $15,000.00 debt. If this continues, my minimum payments will be in the hundred dollar range a month - something we simply cannot afford.
After just finding this msg. board. My question is it to late to ask for "validation" on either of these two debts and future ones? Esp. if these creditors are already being represented by attorneys and not collection agencies?
Or, should we try to beg and borrow the money to file bankruptcy?
Any advice would be greatly appreciated.