My Merrick account has already gone six months past due and was charged off. Total about $4,000. Will they sue on this amount or will they send it to collections first? They wrote me saying it will go to either an attorney for a lawsuit or to a collection agency. I can deal with a collection agent, but not a lawsuit.
Update Just got a letter from them today offering to settle for one half of the owed amount (which I do not have). I can pay it in one lump sum within thirty days or in three equal payments over three months. They will update the credit reports as a "paid collection" which would do me no good. Since I do not have the money, I cannot accept their offer. So, back to the original question. Does anyone know if they will sue, or will they send it to collections? Thanks
