My wife and I are just over 60 days past due on her HD account (all our CC actually) and we received a settlement offer today from their collection agency Northland Group. The offer is for 40%. I don't have any experience with this type of thing, but does this seem a little quick?
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I would say they might think you might not be going to pay them (bankruptcy) so they might be trying to get at the front of the line for some money.Golden Jubilee was a year-long celebration held every 50 years in which all bondmen were freed, mortgaged lands were restored to the original owners, and land was left fallow: Lev. 25:8-17
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Wow. I missed my first payment with HD at the end of September and all I get is voluminous calls from Citi about it. I did get a letter from them in October saying my account may be suspended if i didn't contact them. Nothing from CA yet...Stopped paying CC: September 2009 ; Retained attorney: 9/9/2009; Filed Chap 7: January 18, 2010; 341 Meeting: March 9, 2010; Discharged and Closed: April 29, 2010
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Originally posted by holycrap View PostI little over 6K.Stopped paying CC: September 2009 ; Retained attorney: 9/9/2009; Filed Chap 7: January 18, 2010; 341 Meeting: March 9, 2010; Discharged and Closed: April 29, 2010
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If you settle with them, you will be sabotaging your bk. Do not talk to them. It is called a preferential payment. 'HubIf I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.
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Originally posted by AngelinaCatHub View PostIf you settle with them, you will be sabotaging your bk. Do not talk to them. It is called a preferential payment. 'Hub
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ACHub, please explain to me why someone in this position should worry about a preferential payment? This becomes an issue between a trustee and the person/company receiving the payment. The trustee and the creditor/company can fight it out. It should not concern the debtor uless they are intending to conceal something. They can just list it on the appropriate forms and sit back and watch the trustee attempt to get it back. I don't think the trustee comes after the honest debtor. They might go after a creditor who received a preferential payment. Just my opinion.
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Originally posted by treehugger1 View PostACHub, please explain to me why someone in this position should worry about a preferential payment? This becomes an issue between a trustee and the person/company receiving the payment. The trustee and the creditor/company can fight it out. It should not concern the debtor uless they are intending to conceal something. They can just list it on the appropriate forms and sit back and watch the trustee attempt to get it back. I don't think the trustee comes after the honest debtor. They might go after a creditor who received a preferential payment. Just my opinion.
Plenty of toilet tissue, toothpaste, and groceries to buy with that money!All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event.......
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