Legal Question in Credit and Debt Law in New York
credit card court
Trying to settle out of court for credit card debt. Originally owed 9000. Offered $3000. was turned down and they wanted 7000 up front with payments totaling 12000. plus interest or 12000 up front. Is there a chance that I can still negotiate a lower amount? I was hoping to keep this out of court.
Asked on 5/03/07, 11:57 pm
1 Answer from Attorneys
Re: credit card court
absolutely keep negotiating, although its up to the creditor what they will accept. However, if the plaintiff is a secondary creditor (meaning that the purchased the debt),they wuill generally accept less than the original creditor. your best bet is to offer a one time, lump sum payment.
Answered on 5/04/07, 11:20 am
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