Thank you everyone for all of your help! I guess we will just have to try our luck with the judge or try to settle up with them. I hope there is an option to just BK. I don't know much about it though!
BK may well be an option. I think your lawyer is doing a decent job trying to negoiate. He got them to come off over 20% pretty fast. Talk with the lawyer about the BK card. It is unsecured debt and can be included in bk. Sometimes a letter from your lawyer saying I'm exploring all avenues with my client including bk will make them settle for a much lower amount.
How would BK work if there is no house or car involved. What chapeter would it be? Would it be something like a debt repayment plan? How does that work?
Re: Re: SOL on credit cards I am so confused. Are you expecting to go back to court? For what? Are they trying to garnish his wages? Do you know for sure there is a judgment, or is that what that other attorney is telling you?
Re: Re: SOL on credit cards Sorry...I am confused myself. Exactly what he said was there is a judgement entered against you for the total amount. You need to go down town and register with the courts that you are aware of the item and that you are responding. He did that and then there was a court date of April 15th issued. His lawyer said that between now and April 15th is the time to settle out of court. They sat down and discussed what he would want out of it. My fiance said, I want it off of my credit and I don't want to have to pay the whole amount. The lawyers spoke and started to neg. on the settlement. The other side agreed to delete it if they can come to an agreement that makes them happy too. The lawyer on our side thinks that this will end up settled for between $4-5K when it's all said and done but, I find it had to put all of my faith in that. We are not going back to court. We have never been in court. They said that if there is no agreement made then, they would have to take their chances in court. Does this make sense? Can there really be a judgement against him with our first there being a court date? I feel like an idiot because I am so unfamiliar with all of his!
I'm in Illinois and I have noticed that many "lawyers" are so ignorant when it comes to consumer credit laws and litigation. My attorney, whom I've known for more than 20 years and is a good person suggested to me once to not fight a collection for $5000. He said to me "if you owe it you're going to have to pay it". That's the mentality of most lawyers I have spoken to here in Chicago that are not specialists in consumer protection law. The ones that are specialists only want to go after the cases where there are big bucks involved like class actions or they will discourage you in the same way as my lawyer and suggest arbirtation when it comes to small cases because their fees are so out of this world. So that has left me with 2 choices. Re-educate my lawyer and have him do some legwork for me on a going fee rate basis to deal with some creditors. I write the letters he mails them and takes the phone calls from CA's and OC's and I do some of the fighting and disputing myself. My lawyer is only doing some of this stuff for me out of our friendship and long standing business relationship. He doesn't like doing this stuff otherwise I would recomend him. We're pretty much on our own. Creditnet has been a much bigger help to me than any lawyer I've spoken to. You just have to do the reading and research and do it yourself or find a lawyer that will do what you want him to do. Good luck
Re: Re: Re: SOL on credit cards LOL Now it sounds like they have filed suit to get a judgment for the charge-off, and it sounds like "register with the courts" might be to file an answer. But I just don't know...
Re: Re: Re: SOL on credit cards It may mean a "debtors exam" has been scheduled where he must disclose his assets and sources of income.
