Joe,

Right now it's CCBC and CCA that are threating fairly hard - Both are indicating that they are prepared to do a Writ of Seizure in my name and SIN; garnishing all bank accounts, etc..

Today I just dropped off a pile of paperwork at my accountant's and explained the situation. Unfortunately, Debt settlement is not their firm's area of expertise, but my accountant did fire off a few suggestions - even though it wasn't in line with my intended strategy.

See, there is one creditor that hasn't received a dime in 1.5yrs, and the calls (voice mails) I receive on behalf of that account are getting more and more intense. They know the SOL is running near, hence the added pressure. In addition, I haven't spoken to any collector in at least 8 months. That's got to be making a few wonder what the heck I'm up to?

So, by your recomendation of telling them that your not working, can't they verify this data somehow? I'm self employed, so there is banking activity (not with any banks I'm in the doghouse with though). I just don't know if the activity on that account is reported to my bureau? In addition, there is still one CC make payments to, although I keep them fairy low and the account typically remains at 90% charged.

Thoughts? I'd be willing to settle for 10c/dollar, too.. It's just how do I get them to agree with those terms?

O.C.

Hi,

The creditors will deal down if they know your not working.I told them what they wanted to hear,and that i am broke.If your not broke,still them your broke.I dealt with every clown collection agency out there and basically i told them i don't care if i settle.They need your money to survive and i wasn't willing to give alot.What collection agencies are you having a hard time with,i might be able to give you some insight on who to talk too that helped me?

Joe,

I didn't catch the whole thread, but I'm curious to know if you were in 3rd party collections when you reached this settlement? A short answer will suffice.. I'm simply trying to figure out how much leverage I have with these 3rd party clowns? I don't get the impression the "bid kids" really want to deal down, then again, I haven't been communicating with them for over a year - only going from their letters.

O.C.

Congrats average_joe..
Good to know that you've seen the process through.

I'm sure your credit report is getting a kicking though.

umm.... Raymond... ???

nonsequitur

I thought you were going to take all the money you saved and open up a collection agency.

You might have trouble getting a surety bond though, being in collections yourself. You see, the government and bond underwriters only want people of good [gasp! choke! sputter! wheez!] character to be in collections.

As well, if you have average intelligence, then you will be considered to be greatly overqualified. Why not consider something more rewarding and beneficial for society like dew worm picking or scraping dead animals off the highway if you really insist on going after defenceless things for a living?

Ray

I knew if i waited long enough, rbc would settle for 10% of the debt.I have two more, and i will be debt free.I have these two down to 40%, and in due time i will get my 10% settlements.