Re: Questions about SOL, PFD, CRO and settlement
[ Edited ]
01-29-2013 11:04 PM - edited 01-29-2013 11:07 PM
If they have already filed civil action, they are seriously pursuing recovery of the entire debt.
My main goal would be to settle before trial date, thus avoiding the addition of a judgment to your credit file, and the fact that, once they have secured a judgment, if it is not satisfied within a reasonable period, they can go back to court and get an order for specific terms of satisfaction, such as garnishment of pay.
My opinion is that this is not the time to push for additional concessions on their part, of which you are apparently seeking two... accepting less than the full amount, and credit report deletion. Payment in full would terminate the legal proceedings. A payment plan might work, provided they are willing to accept.
You can, of course, attempt to negotiate with their attorney, but I would be prepared to do a full PIF if they balk and if you dont have a good case for trial that might award judgment to you.