R9 is great for settlement purposes. MBNA at CCL settles particularly low. I get 30-35 cents on the dollar all day with them whether the account is $400 or $40,000. Only real exception is when it hits their legal team...

R9 is great for settlement purposes. MBNA at CCL settles particularly low. I get 30-35 cents on the dollar all day with them whether the account is $400 or $40,000. Only real exception is when it hits their legal team...

R9 is the worst.
If you can not deal with the 600 , which they will not forget about at this point.....how are you going to handle 18,000???

Thanks Steve,

I have very bad credit.. I think R9 or worse!! I used to have many late payments and I get calls from BMO and CIBC too for payments...

So in other words, my credit is trashed :(

I'm hoping that CCL will write of the small amount of $600, so I can try to pay off BMO ($11000) and CIBC ($7000) ....

Thanks...

One more thing before offering any advice. Are you afraid,vengeful,justified,uncertain,regrettable

Well, I know all the pros are gonna swarm in and give their wealth of knowledge momentarily, so the only question I ask you before making a comment is this. How bad / good is your credit ?

Open that juicy can-o-werms, and I'll give you my 2 cents...............

Thanks Steve, Ottawa and TJ for your fun comments!!

I just came home and found a Authority to File Suit letter from CCL and the amount they bought from MBNA is now $600. I guess that included collection fees etc..

So should I stall or what legal action can they take to collect $600??

Hope to get some feedback before I respond to them. Thet say I have to respond before Dec 3. The latter was mailed out Nov 23..

Thanks...

Delta. Make em spend,spend,spend, more then they'll ever get back. But hey, that's just me. Imagine if you accidentally bounced the first check. lol.
Don't take my advice though, I'm just a very disgruntled sub-primer. But that's another story. Which brings me to the "Pineapple"....Please tell me more.

I'm going to try and be responsible here and suggest you listen to one of the other members. I'm a reckless wild card, that no longer cares about credit whatsoever. I say if you don't have the cash in your pocket, don't look at it. However, if you've run into a bit of a pickle, and you are at the lowest level of credit. Have fun with it, and don't stress about it. Take it in stride. Pay yourself first.

since the debt is in BC....the sol is presently 6yrs.

Knock off 2yrs since you paid leaves 4 yrs to sue you.
You are in no position at this point to negotiate.

Your credit report will already have an R9 for 4 more yrs.
you have 2 options.....stall and wait and see or offer a reasonable amount.

Me....... I would wait

Thanks everyone for your advice!!
The MBNA account was a card that I had not used in over 2 years and forgot about the balance of $500

I like the idea of sending $1.00 chq per month, just to have a fun with CCL.!!
I guess with the man power they have to use to deposit the chq each month and bank processing fees..i wonder will they write of my account for a lousy $500.
If they were to take legal action against me, I think it will cost them much more the $500??

Any ideas on that point??