Cach validated, now what

[SeanAndrews]

Cach's "attorney"  has recently validated a debt, with some recent charge statements and the bill of sale. This particular attorney does not practice in my state. At this point I think they would have a pretty good case if they handed it over to an atty in my state and I was sued. The amount is pretty high, 21k. I might be able to pull enough for a 25% lump sum, but within the next two months. They will likely not accept 25%, but I hear it is a good start. Any advice on getting them to hold onto this without suing, at least for the next two months? 

[guiness56]

You could always call and make payment arrangements with them.  Go ahead and offer the settlement but ask to pay so much a month until you can afford to PIF.  I would also ask that they not bring suit against you as long as you make the agreed upon payments.

When is SOL up?

[SeanAndrews]

The SOL would be up in a few years, date of last payment was in May 2011, so they have plenty of time, but I am getting anxious now that they have validated (and surprisingly quite well, but I guess with this large dollar amount, they probably insist on full documentation from the OC before purchasing).

[guiness56]

I would do what I could now to try to prevent a suit being filed against you.  A PR is a show stopper for credit scores.

[SeanAndrews]

Does a PR still affect your score after 7 years have passed?

[guiness56]

An unpaid or paid judgment is excluded from your CR after 7 years from the date filed.  So, no, your score would possibly improve once excluded.

[SeanAndrews]

OK thanks. I was actually sued by LVNV for a much smaller amount, $1350, and their documentation was muhc worse so I filed my own grounds of defense..but chickened out and just hired an attorney to represent me on the court date. Cost $500 flat fee. I thought having an attorney for a JDB suit was supposedly a slam dunk win, but even my attorney said he can't guarantee we would win, he thinks he has a good case but not 100%. I know for sure I would lose with Cach, they have too much documentation.