Discussion in 'Credit Talk' started by moni, Feb 17, 2001.

  1. moni

    moni Guest

    I have a debt of about 4,400 with Providian that is already with a laywer's collection agency. They won a judgment against me and have been trying to collect the debt but refused my initial offers as too little and then stopped returning my calls altogether.I wonder if anybody here has been in a similar situation and can help me, answering the following question:
    Do you know if these laywers are likely to accept an offer of 3,500 as full-payment, paid in the following manner: 500 upfront and 12 monthly installments of 250. The 3,500 amount we are willing to pay is the principal without the interest.
    The reason I'm asking this here instead of trying to contact them is, a) they don't return my calls, b) everytime I tried to contact them by mail their "answer" was to send the deputy-sheriff to try to enforce the judgement. It just didn't work because I don't own a thing. I just want to have an idea of what would be a reasonable offer, likely to be accepted, so that I could send them a written agreement and the initial payment. If they are not likely to accept anything other than the payment of the total debt right now, I won't even bother to contact them since I don't have this money. They have always been VERY uncooperative and extremely rude and the least contact I have with them the better.
  2. Hal

    Hal Well-Known Member

    For this amount of money, you may want to contact an attorney and ask him to prepare a letter for you. It will cost a few hundred dollars, but they are more likely to respond to an attorney. He/she can advise you on this, but the terms you are offering should be acceptable as they have the judgement and can take enforcement action allowed by the court almost at will.
  3. Elizabeth

    Elizabeth Guest

    Moni, now I am scared to death!! I am also trying to negotiate with the collection agency that is handling my account but I think I should negotiate directly with Providian. The amount I owe is about $2,700. I also don't own a thing so it would be unenforcable but they just sent me a offer letter to settle in full. This will not take off any of the derogs but it sounds like Providian is a @!#$ to deal with!

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