Kilgore... I totally forgot about him.

The HANDS.....

Au contraire, Bros. A collection agency will take whatever pickings it can, and if that involves monthly payments, so be it. Duh, Whadya think the judge is gonna award if it goes to court - monthly payments.

And then, if the thing is stats barred or it's been bought up by a debt buyer, they'll take it over 36 or as many months and at whatever percentage that the debtor is willing to offer? What other recourse would the collector or debt buyer have? Needless to say, once they think they're going to get any money out of you, they'll start calling you "Sir" instead of "Cur". R.E.S.P.E.C.T.

By the way, forget about the industry standard offer of 85%. Once a debt is stats barred, then for once, the 10% "average joe" goes on about" wouldn't be "garbage".

The foregoing remarks don't apply to a debt once a judgment has been obtained on it. Then things are more complicated.

Ray

P.S. Whatever happened to Kilgore?

oh shut up jaime....

Canadian tire messed up my brakes once.. drove away and they forgot to bleed the brake line. I'm sure Canadian tire financial was behind it.. muhahaha...
But in all seriousness...
get back to your cubicle and yell at people.... (something I'm sure you are the expert at)
:D

ranzzzz, perhaps you should re-read what he and I said. Stop coming at me because you have something against bill collectors.........

He claims he was able to settle his debts for 10 cents on the dollar. He then claims if you are not working and do not own any assets (such as a home, car or investments) then Canadian Tire Bank does not deserve any more than 10% of what you spent on your Master Card. Excuse me? Where do I plug in the probability that he's on disability or a 60 year old war vet?

As a bill collector let me tell you, and anyone else reading this: your creditor WILL NOT settle your accounts at any where NEAR 10% if you don't have a damn good reason for going that low. If you simply can't be assed to pay anymore or can only scrape up 10 cents for every dollar, the collection agency will take that amount as a down stroke (down payment) and set you up on a payment arrangement.

Not only has Joe posted the same thing several times, in several ways, all his answers are the same. No one can understand his situation on how he can how he was able to settle ALL of his dozen or so accounts for the same amount. And not only that, but several threads about whining about ombudsman's offices for banks when the account is already in a collection agency.

Quite simply, as I said.. if someone is ready to settle an account, I and several others are more than willing to help someone with that. If you are prepared to settle your accounts, you better have the money or the resources to get it, because once your creditor approves it, they want it immediately. There are no payment arrangements for settlements.

Why not? If many of his creditors are willing to settle for 10%, it is none of your concern. I believe from reading his previous posts there are many that are willing to settle for 10%, so it is totally possible. By the way, does he owe YOU or YOUR AGENCY money..hmm? Collection agencies do not lend out money as far as I know.

Maybe Joe is on disability compensation? or maybe Joe is a 60 years old veteran that got maimed by a land mine? It is simply very immature and ignorant to say "if you don't work, where the hell do you come up with that 10%". The bottomline is; he is willing to settle for all his debts even though he has bare nothing. Regarding the amount he settled for, he is just here telling everyone his experience that debtors can always negotiate for lower. That is it.

Why do you keep posting this garbage? Not only do you sound completely stupid, but you are assuming that all creditors will accept 10% of the debt. Don't confuse the people on this site with ridiculous claims of improbability. If someone is serious about debt settlement, they should post serious questions in the DEBT SETTLEMENT section.

Come on... if you're not working, where the hell are you going to come up with 10%

If you have no job,no asssets and nothing in your name and you owe creditors money here is some advice.I would not give any creditor more then 10% of the debt.The reason i say it how can they get any money out of you if you have nothing.If they scare you with judgments and courts papers just tell them go right ahead.They are not going to spending anymore money on you.