Will an attorney help in any way in negotiating debt?

[The Grinder]

What is the name of your state (only U.S. law)IL
Will a credit card company be more apt to reduce the amt owed if I hired an attorney ? I realize they are not cheap. Or is negoating a debt something I can do myself better than a lawyer? thanx

 

[Insane Jane]

What is the name of your state (only U.S. law)IL
Will a credit card company be more apt to reduce the amt owed if I hired an attorney ? I realize they are not cheap. Or is negoating a debt something I can do myself better than a lawyer? thanx

Hang in there, My crystal ball is just warming up.

 

[quincy]

What is the name of your state (only U.S. law)IL
Will a credit card company be more apt to reduce the amt owed if I hired an attorney ? I realize they are not cheap. Or is negoating a debt something I can do myself better than a lawyer? thanx

It can help to have an attorney do the negotiating but it is possible to successfully negotiate with a credit card company on your own.

It could be that money needed to pay for the services of an attorney would be better used to reduce the debt.

Whether an attorney is worth the expense really depends on the size of the debt and your comfort-level in negotiating with a debt collector.

The decision is up to you.

You might benefit from reading the "sticky" at the head of this forum, written by a former debt collector turned attorney.

 

[Zigner]

What is the name of your state (only U.S. law)IL
Will a credit card company be more apt to reduce the amt owed if I hired an attorney ? I realize they are not cheap. Or is negoating a debt something I can do myself better than a lawyer? thanx

How did you get from 2 cards with about $1,200 balance between the two of them (https://forum.freeadvice.com/banking-credit-cards-18/will-zeroing-out-all-my-ccs-raise-my-score-628516.html) to being sued over a credit card debt in the short span of five months?

 

[quincy]

How did you get from 2 cards with about $1,200 balance between the two of them (https://forum.freeadvice.com/banking-credit-cards-18/will-zeroing-out-all-my-ccs-raise-my-score-628516.html) to being sued over a credit card debt in the short span of five months?

Ah. Posting history. I failed to check.

If the amount of the debt owed was only $1200, that probably would not justify the cost of hiring an attorney. It appears from the previous threads that the amount of the debt is over $44,000 - and advice has already been offered (several times over) on how the debts could be handled.

A correction to my earlier post: The "sticky thread" I referred to is at the head of the Debt Collection forum, not this forum. The thread is titled, "How to negotiate a settlement" and it was written by forum member TigerD, who used to be a debt collector and is now a lawyer. There is some good advice offered in that thread. This poster was directed to the sticky thread before and he said he found it useful.

 

[The Grinder]

Nothing to do with the 2 discover cards I have, actually 3 now and have been managing all 3 much better. This is in regards to a 17K debt to one bank and a 2K to another. Both are turning up the heat, I've been buying time by asking for proof of debt. I may low ball the 17K one, maybe .10 cents on the dollar. You never know.

I did contact local lawyer and all he wanted to help my with was bankruptcy, which I'm trying to avoid.

 

[quincy]

Nothing to do with the 2 discover cards I have, actually 3 now and have been managing all 3 much better. This is in regards to a 17K debt to one bank and a 2K to another. Both are turning up the heat, I've been buying time by asking for proof of debt. I may low ball the 17K one, maybe .10 cents on the dollar. You never know.

I did contact local lawyer and all he wanted to help my with was bankruptcy, which I'm trying to avoid.

The advice you receive about your debts is not going to change from one debt to the next, one thread to the next. Please reread the advice you have already been given. Thank you.

 

[Zigner]

Nothing to do with the 2 discover cards I have, actually 3 now and have been managing all 3 much better. This is in regards to a 17K debt to one bank and a 2K to another. Both are turning up the heat, I've been buying time by asking for proof of debt. I may low ball the 17K one, maybe .10 cents on the dollar. You never know.

I did contact local lawyer and all he wanted to help my with was bankruptcy, which I'm trying to avoid.

You're not going to get them to agree to a tenth of a cent on the dollar, nor will you get them to agree to 10 cents on the dollar (which is really what you meant to say.)

5 months ago, you were trying to bring your credit score up by paying off two cards, now you're being sued (or threatened with a law suit) over $19,000 of other debt. It would have been nice if you had been forthcoming with us in Sept.

 

[The Grinder]

You're not going to get them to agree to a tenth of a cent on the dollar, nor will you get them to agree to 10 cents on the dollar (which is really what you meant to say.)

5 months ago, you were trying to bring your credit score up by paying off two cards, now you're being sued (or threatened with a law suit) over $19,000 of other debt. It would have been nice if you had been forthcoming with us in Sept.

Post number 6 is what you may have missed, I actually have more than 19K, but this is whats pressing now. I believe I read on this site about a collector that settled for 10%, it may have been rare though. Possibly can I call thier bluff? Take the reduced rate for I file BK and you get nothing? I'm sure they hear that all the time

 

[quincy]

Following are the previous threads by The Grinder, for easy reference.

9-1-16: https://forum.freeadvice.com/debt-collections-84/how-file-claim-against-world-law-group-627986.html

9-4-16: https://forum.freeadvice.com/debt-collections-84/can-i-reverse-threat-made-collector-628049.html

9-21-16: https://forum.freeadvice.com/banking-credit-cards-18/will-zeroing-out-all-my-ccs-raise-my-score-628516.html

 

[The Grinder]

The advice you receive about your debts is not going to change from one debt to the next, one thread to the next. Please reread the advice you have already been given. Thank you.

I called a adviser, he said to contact an attorney. But I appreciate yr input to reread advice!

 

[quincy]

I called a adviser, he said to contact an attorney. But I appreciate yr input to reread advice!

It is frustrating for members of this forum to repeat the same advice over and over to the same poster. If you read what was written previously in your other threads, there would be no need for you to return to ask the same question. The answers have not changed.

 

[The Grinder]

It is frustrating for members of this forum to repeat the same advice over and over to the same poster. If you read what was written previously in your other threads, there would be no need for you to return to ask the same question. The answers have not changed.

Got it, just re-read "How to negotiate a settlement" by tyger. Sorry about the duplicate questions, I guess I forgot. Believe me I feel like a lamb being thrown to the wolves. Its scary when I'm tying to hold on to what modest savings I have, feed my family and yet settle a debt and still keep a roof over my head. But I will sick it up and act on it.

BTW this has probably been brought up before, citicorp had me in court 2 yrs ago and on follow up, the local lawyer they hired told me this case was to be dismissed without predjuice. Which means they can bring it on again.....which is why I need to brush up on all this

 

[quincy]

Got it, just re-read "How to negotiate a settlement" by tyger. Sorry about the duplicate questions, I guess I forgot. Believe me I feel like a lamb being thrown to the wolves. Its scary when I'm tying to hold on to what modest savings I have, feed my family and yet settle a debt and still keep a roof over my head. But I will sick it up and act on it.

BTW this has probably been brought up before, citicorp had me in court 2 yrs ago and on follow up, the local lawyer they hired told me this case was to be dismissed without predjuice. Which means they can bring it on again.....which is why I need to brush up on all this

I understand you are overwhelmed right now by not a single debt but by several debts from several different creditors. The debts are continuing to grow with interest.

I see that you need help in figuring out how to handle the debts and creditors. And the members of this forum have provided you with some advice and some direction. But there is only so much a forum can do.

I am not seeing from your posts that you will be able to successfully negotiate with your creditors or reduce the size of your debt without some personal assistance in your area. I say this because you do not appear to have made any progress in settling your debts since you first posted here in September. That worries me.

Please find some local assistance, The Grinder. Good luck.

 

[The Grinder]

I understand you are overwhelmed right now by not a single debt but by several debts from several different creditors. The debts are continuing to grow with interest.

I see that you need help in figuring out how to handle the debts and creditors. And the members of this forum have provided you with some advice and some direction. But there is only so much a forum can do.

I am not seeing from your posts that you will be able to successfully negotiate with your creditors or reduce the size of your debt without some personal assistance in your area. I say this because you do not appear to have made any progress in settling your debts since you first posted here in September. That worries me.

Please find some local assistance, The Grinder. Good luck.

Thanks Quincy, as I posted last Sept, I could drain my savings and pay debt, assuming its reduced, but that would leave me with almost nothing. I dont know which is the lesser of 2 evils....maybe I'm kidding myself thinking all the CC companies wont come after me. But thanks for yr replies.