Long story short I had another one from Capital One through the same law firm Glasser & Glasser, I called them and got them to settle for a bit of a lower amount on the Capital One acct last year. I used my debit card at the time at a credit union I no longer bank with.
Fast forward to today this firm now has another debt from Barclays. They are going straight for a garnishment from the bank that I used to pay the Capital One debt. Again, I don't bank w/ them anymore so they won't get a penny from that bank.
None the less I want to call them during the week and settle this. Any advice as to what % I should be happy to settle for? I'd like to settle for as less as possible. Any help/feedback would be great.
I just wanted to update this in case anyone is looking for info about Glasser & Glasser.
1) If they are going for garnishment they will not settle the amount, they will only accept full payment at this point. (the lowest they will go is slightly less than 80% of balance owed like around 78-79%)
2) You can negotiate to settle for less even if they get a judgement, but at the garnishment stage nada.
3) They will not do a PFD. I will wait a few weeks after my CR is updated since I paid them the full amount and dispute w/ the CRAs to see if the OC, in this case, Barclays will even bother with it since they got every penny owed.
It is stated that they are "going straight for a garnishment."
That is a bit confusing. Can you explain the prior history?
Garnishment is a separate and additional process of forcing payment of a debt that has been found by a prior civil judgment to be valid.
They must first have obtained a judgment in order to obtain a court order to enforce that judgment by an order of taking of assets or garnishment of pay.
What did you receive that indicates they have a court order for garnishement?
Yes, I'll clarify.
I first dealt w/ Glasser & Glasser last year when they got a judgement for a Capital One CC that I defaulted on.
I settled the balance for less than owed with them over the phone using a debit card.
A year later Glasser & Glasser gets a judgement on me from Barclays Bank.
I dropped the ball because they did send me an offer to settle back in August for about 78% of the balance. I didn't have the funds at the time so their offer went ignored.
Last week they sent me a notice of garnishment that in April they were going to go to court and seek a garnishment against the bank that I used my debit card from.
Therefore i called today and tried to negotiate, was told once it's at the garnishment stage they do not and thus I paid in full.