Renegotiating with Xxxx is it possible?

[The Grinder]

BTW big thanks to all who take time to reply....its such a tough time right now trying to keep afloat and having this site to turn to is huge

 

[quincy]

Yes agreed, its like their back up plan, does the representing lawyer have any say in what creditor will allow? On online attorney kind of hinted that since one lawyer represents all the creditors, he/she may pull each one aside and try and work terms....or is this a pipe dream??

The attorney representing the collection agency will advise his client on the pros and cons of settling/working out another payment plan. It will be the client's decision what to do.

 

[The Grinder]

The attorney representing the collection agency will advise his client on the pros and cons of settling/working out another payment plan. It will be the client's decision what to do.

quincy did I take this you mean the attorney I will see in court will communicate w his client (law firm X) and suggest what to do? No offense but its not like hes going to get on phone and call on the spot, wont there be a decsion done that day?

 

[quincy]

quincy did I take this you mean the attorney I will see in court will communicate w his client (law firm X) and suggest what to do? No offense but its not like hes going to get on phone and call on the spot, wont there be a decsion done that day?

The attorney you see in court will be representing the interests of his client as his client has made known to him prior to court that he wants to be represented.

In other words, if the client says he will under no circumstances agree to any new payment arrangement, the attorney cannot agree to a new payment arrangement without the client's consent. If the client says, "Do what you think best," the attorney will have an option to enter into a new payment arrangement.

Attorneys are employed by their clients. They serve their client. A smart client generally will rely on the advice of their experienced attorney.

It would not be unusual for an attorney to call his client from the court to present to the client a new idea or suggest a new tactic to resolve a matter.

 

[The Grinder]

The attorney you see in court will be representing the interests of his client as his client has made known to him prior to court that he wants to be represented.

In other words, if the client says he will under no circumstances agree to any new payment arrangement, the attorney cannot agree to a new payment arrangement without the client's consent. If the client says, "Do what you think best," the attorney will have an option to enter into a new payment arrangement.

Attorneys are employed by their clients. They serve their client. A smart client generally will rely on the advice of their experienced attorney.

It would not be unusual for an attorney to call his client from the court to present to the client a new idea or suggest a new tactic to resolve a matter.

Thanks for yr insight, so attorneys can have cell phones in court? I know in this county one cant walk in w one but maybe attorneys are different. I guess as demeaning as it is, in a small town, I'll swollow my pride and go to court and plead my case. thanks for yr help!

 

[Zigner]

Thanks for yr insight, so attorneys can have cell phones in court? I know in this county one cant walk in w one but maybe attorneys are different. I guess as demeaning as it is, in a small town, I'll swollow my pride and go to court and plead my case. thanks for yr help!

No, quincy's statement really should have said "It would not be unusual for an attorney to call his client from the courthouse to present to the client a new idea or suggest a new tactic to resolve a matter.

 

[quincy]

Thanks for the clarification of my post, Zigner. You are right that courthouse is what I mean.

And, yes. Attorneys can have cell phones (and laptops) in the courthouse. They cannot use their cell phones in the courtroom.

There are (at least in Michigan courts) several small conference rooms in the courthouse (outside the courtroom) where attorneys and litigants can meet prior to trial.

 

[The Grinder]

Thanks for the clarification, what a humbling experience this whole thing has been. It seemed like yesterday I was in a booming business, makiing great $$ even had a vacation home and now I make next to nothing and have lost my 2nd home to a short sale and am trying to dig out of debt. Makes me wanna say F it, but I wont go there

Things gotta get better, I havent had a vacation in 9 yrs, work 70 hrs a week and seem to have no life but it is what it is.....I guess adversity introduces you to who you are.....

 

[The Grinder]

BTW would it be beneficial to make a sizable downpayment on remaining balance? Like 25% to show good faith? If so, would they prefer cash or a check be better? Or would this make them think I may have funds for entire balance? Tell them $ is from a relative? Just a thought.

 

[PayrollHRGuy]

Anything you can do to make the deal look better is a good thing.

 

[quincy]

BTW would it be beneficial to make a sizable downpayment on remaining balance? Like 25% to show good faith? If so, would they prefer cash or a check be better? Or would this make them think I may have funds for entire balance? Tell them $ is from a relative? Just a thought.

What can be smart for you is to keep out of bank accounts that can be frozen any extra cash you have, in the event the debt collector decides to take the freeze-your-bank-accounts route to collect the debt you owe, rather than work out with you another payment arrangement.

Whether to reduce your debt now by paying a lump sum to the debt collector is a decision you will have to make. The debt collector may very well wonder how you came to have so much available cash, since you failed to meet the payment terms arranged for you earlier. In other words, the collector may be reluctant to trust you when you say you only have X dollars to pay toward your debt.

You can consult with attorneys or financial advisors in your area to see what they recommend.

Good luck.

 

[The Grinder]

What can be smart for you is to keep out of bank accounts that can be frozen any extra cash you have, in the event the debt collector decides to take the freeze-your-bank-accounts route to collect the debt you owe, rather than work out with you another payment arrangement.

Whether to reduce your debt now by paying a lump sum to the debt collector is a decision you will have to make. The debt collector may very well wonder how you came to have so much available cash, since you failed to meet the payment terms arranged for you earlier. In other words, the collector may be reluctant to trust you when you say you only have X dollars to pay toward your debt.

You can consult with attorneys or financial advisors in your area to see what they recommend.

Good luck.

I think you mean if I write a check, said collector now has my acct number and bank routing number? Prob not a good idea, the lawyer I use who used to work for me long time ago thought it may be a good idea to offer a downpayment and to try and get the $290 added court costs down in price, he said court costs have gone way up these days

 

[The Grinder]

Actually in regards to my above post, that a non factor as I was paying collector online via checking

Speaking of which, a friend of mine said to pull what little savings I have out of bank and put in safe to avoid garnishment which I assume is illegal correct? I'm sure the law firm would want a history of withdrawals right? But my IRA's are safe correct?

 

[The Grinder]

Brief update, got a continuance till May 23, so gonna contact the collector and try and work out terms, my question is this: Since I;m unfortunately on Gov aid, ie food stamps, medicaid etc (which I'm determined to get off) and am self employed in a business thats losing $ (which I'm trying to reverse as well) can I leverage this with the collector to get my payments lowered? A few days before court they offered me $81 month payments which is pretty steep given my financial condition

I'd ask the collector but I really dont trust them to tell me the truth, I thought there may be legal guidelines about all this

Thanks again for listening, its been a very painful process

 

[PayrollHRGuy]

They don't have to settle at all so there is certainly no law saying what sort of payment they have to agree to.