I get what looks to be a card in the mail yesterday, when I open it it is from the ca saying they will take me to arbitration if I dont settle by the end of the month. Is this a threat or ploy? What I would like is to make them an offer of the full amount no intrest paid out in equal monthly installments of $100(all I can afford). Does anyone know of a letter I can send?
When was the CO? Who was the OC? Who is the JDB? AND when was the first contact? (If you do not know what these stand for, look over at the stickies to get familiar with such) Woofer
Threatening legal action that isn't possible to take or intended to take is most likely a violation of the FDCPA. So it would appear that unless they are willfully violating that, they might mean it. There's really no way to know but to let time tell you. What sort of level of the food chain are we talking about? A CA working for an OC is more likely, I suspect, to follow the letter of the law than some of the lower level junk debt buyer's CAs. But you just never know. No interest dragged out at $100 per month? I smell the potential for yelling coming: "How do you expect us to feed our starving children on this?! How do you expect us to pay our payments on our His and Hers Lamborghinis?! How can we pay the mortgage on our West Coast Extreme Makeover-sized house when you won't pay the 39% we want?!" I've seen 5% on some papers, but I think that's probably from the OC. I don't know though. An offer of a percentage that at least deals with the value erosion over time from inflation would seem reasonable to me. That's really the point of interest, that and the loss of use of money value, not that the latter really fits the circumstances of a JDB.
co= charge off. it is still with boa only in house collections cant find jdb so ? we have been in contact up until about a month ago, they call tell me my payment is past due.. I say sorry cant make it they ask when I tell them dont know. they ask when i tell them I dont know, they ask when, i hang up.
