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How negotiate a CC debt settlement when the CC attny is suing?

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  • How negotiate a CC debt settlement when the CC attny is suing?

    background
    state = IL, cook county. 15k cc debt with discover. Discover gave to an attny to collect. attny said filed suit. confirmed this by looking at the docket, Have nt been served yet . Docket says 'SUMMONS ISSUED AND RETURNABLE.' docket says 10-27 is the court date, which is 18 days away. Isnt there a rule In IL) that the court date has to be at least 28 days from service ? I have not been served yet. see below

    background questions
    WHat does this mean ('SUMMONS ISSUED AND RETURNABLE.')?

    Also, how long wd I have to answer this lawsuit once served? Are there laws governing this length of time in IL?
    I know that small claims court has a different lead time than other courts. I know that this should not be in small claims court since it is > $10k. How do I tell if it is in small claims court?

    I do not want a judgment.

    attny will do some sort of payment plan but attny said it must be entered through the court. What does this mean?

    The payment plan wd not have a reduction in the balance. I offered 60 pct as a lump sum settlement offer, all the money I have , and they rejected it for a 73pct. How best to proceed? Since they can get a judgment to get the whole thing w/o negotiation, why wd thy want to negotiate w/ me now ? They seem to hold all the cards.

    There is the bk card for me , but there is some complications regarding this.

  • #2
    They know you have the ability to pay 60%, so they're not going to negotiate. Your countermove... file bankruptcy. (The returnable means that the summons must have a return of service certifying that it was "served" on the defendant(s).)
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog


    I am not an attorney. Any advice provided is not legal advice.

    Comment


    • #3
      thanks. another question on this case: the attny did say they could do a payment plan, and then I asked if this would stop a court issued judgement. They replied , No, we can do a payment plan , but it has to be 'through the court'. What does having a payment plan though the court mean? Would it be a payment plan that would pass some muster before a judge, so that the creditor is not asking to take 90 pct of the debtor's DMI?

      Comment


      • #4
        Originally posted by rayrod View Post
        thanks. another question on this case: the attny did say they could do a payment plan, and then I asked if this would stop a court issued judgement. They replied , No, we can do a payment plan , but it has to be 'through the court'. What does having a payment plan though the court mean?
        It means you would have the voluntary entry of a judgement and a court ordered payment plan. I don't know why anyone would volunteer to have such a thing entered. (It is a strategy in bankruptcy to do this when there is an adversary proceeding which you can't win. It makes it less costly and you get some terms from that. I just don't know why anyone would do this outside bankruptcy if they were planing to file bankruptcy.)

        Originally posted by rayrod View Post
        Would it be a payment plan that would pass some muster before a judge, so that the creditor is not asking to take 90 pct of the debtor's DMI?
        I don't even want to entertain this question. Whether or not they can still gouge you at "garnishment" rates (which are typically 25% of income) or it's a nice formal repayment under good terms (24 months at 6% with a fixed payment).

        Why are you even talking to their attorney?

        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: justbroke's Blog


        I am not an attorney. Any advice provided is not legal advice.

        Comment


        • #5
          'Why are you even talking to their attorney? '
          -- for one thing , it is how I can get a take on what they are doing. I do not have a collections attny just yet. I have looked into it , and it is probably not feasible/reasonable as the amt I 'd end up paying for the settlement of the debt ( attny + creditor) is very close to what the creditor's attny is offering me now w/o incurring the cost of my attny.

          LAtest on this (PMd you):

          Comment


          • #6
            rayrod, it was only an observation. The only times that I have talked to creditor attorneys was when I was under the protection of the automatic stay or permanent discharge injunction.
            Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
            Status: (Auto) Discharged and Closed! 5/10
            Visit My BKForum Blog: justbroke's Blog


            I am not an attorney. Any advice provided is not legal advice.

            Comment


            • #7
              'PM'd you'
              quick question as a newbie here: question on messages in this forum: is a message to one user ONLY seen by that user and no other user ( other than an admin , s/ an admin want to see it)?

              I was assuming it was private as similar forums have this convention. is it the case that messeging to users is private (not public)?
              Last edited by rayrod; 10-16-2017, 02:12 PM.

              Comment


              • #8
                Private messages are private. I can't look at private messages other than my own. We discourage private communication as it doesn't advance the issues that a public forum provides. There are some things that are truly private and should remain in the PM area, but concepts, ideas, questions, strategies and other techniques related to bankruptcy and collections are better served in the public areas of the Forum.

                I hope that helped.
                Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
                Status: (Auto) Discharged and Closed! 5/10
                Visit My BKForum Blog: justbroke's Blog


                I am not an attorney. Any advice provided is not legal advice.

                Comment

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