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I had a cc charged off ($7k) about 5 years ago, and then a law firm won a settlement against me about 2 years ago, and now they have a judgment. They say the amount I now owe is 22k. However, I received a settlement offer today from a law firm for $9,000.
I finally got a job a year and a half ago that pays decent, and have been saving in order to be able to settle this debt someday. I only saved $5k last year. This year I'm on track to save $1,000 a month. So I have a total of $7k in savings now and will have $17k at end of year.
This is has been weighing on me for years and I'd really like to get the debt eliminated. I'm very wary of dealing with collectors.
Thanks in advance for anyone's help.
How can I settle the judgments
Hi Jones,
You should go for the settlement offer. Debt settlement generally lowers the outstanding debt amount by 40-60%. The collection agency is offering you a good settlement deal.
There are many such people who fail to make the collection agencies agree to debt settlement, or the judgment amount. However, remember to get the agreement in writing, and request the agency to report the account as "Paid judgment".
Thanks,
Aaron
tell them you can borrow 7k and point out that it was what you originally owed. see what they say. Ask them to vacate the judgment.
PS if they find out that you have 7k in the bank they might seize it.