Discover Card coming after me! Great, just, Great

[FreshLikeADaisy]

Thanks, CindyLynn, I didn't make myself clear on that point when I first posted...

Wayover should definitely wait to see if they file an objection first, and then deal. In fact, because you've already filed, that's pretty much all you can do right now, but don't roll over if/when you get one. My apologies for not making that clearer.

[CindyLou]

to the OP, did you open the card in 07 or 08?

[HHM]

Correct, I do not mean to imply that the OP should take the initiative to settle. But I do think the OP needs to at least see what room exists in his budget to see what kind of payment he can afford if an objection gets filed.

I got the impression that the OP applied for and received the card in December 07, did a balance transfer that same month, and filed BK April 08.

The kicker in this case is the OP never made a payment. That is why I think the OP needs to be realistic and understand that this debt, or at least some part of it, is likely to survive the BK. Usually, at some point, Discover may offer an initial settlement (in any event, let them make the next move) to prevent the hassle of having to file an objection. At that point, you really need to consider your options and discuss the issue with your attorney.

[wayovermyhead]

to the OP, did you open the card in 07 or 08?

December 07

Balance Transfer 12/15/07

BK Filed 4/2/08

No payment was ever made to them.

[wayovermyhead]

Correct, I do not mean to imply that the OP should take the initiative to settle. But I do think the OP needs to at least see what room exists in his budget to see what kind of payment he can afford if an objection gets filed.

I got the impression that the OP applied for and received the card in December 07, did a balance transfer that same month, and filed BK April 08.

The kicker in this case is the OP never made a payment. That is why I think the OP needs to be realistic and understand that this debt, or at least some part of it, is likely to survive the BK. Usually, at some point, Discover may offer an initial settlement (in any event, let them make the next move) to prevent the hassle of having to file an objection. At that point, you really need to consider your options and discuss the issue with your attorney.

I agree, I made a boo boo and they want to settle for 4000. Cash, now. I dont have that and will never have that. This is bothering me so bad I feel like my lawyer should have told me to make a couple payments or something. I did just what he said to do now Im f*@(ed. Ugggg, I seriously lost sleep over this.

[HHM]

I'd probably counter offer with $2,000 to be paid in monthly installments ($200 per month for 10 months) and see what they say. Given the strong nature of the creditors case, they will probably reject the offer (and since $2,000 is below the 50% threshold, the attorney probably won't have independent power to accept). But, the goal of the offer is simply to see how they react.

If your lucky, and if you can afford it, a settlement of $2,500 -- $3,000 would be VERY GOOD from your perspective.

[debtor36K]

so how did this turn out? I'm very interested as I find myself in a somewhat similar situation! I sure wish I found this site before I file.

[PoorGrammyinBK7]

Whoa - if the lawyer knew all about it and then advised her NOT to make payments, he should do the negotiating for free!

[bcvw]

The OP was discharged so it must have not been a problem.

[debtor36K]

what is op?

[bcvw]

The OP was discharged so it must have not been a problem.

Original Poster... Wayovermyhead in this case.

[AngelinaCat]

I went back on Wayovermyhead's Discharge thread, also. Apparently Discover did not initiate an Adversarial Proceeding in that case, which is very good.