Contacted by lawyer about debt?

Question

A lawyer has been calling, I know it is about a credit card debt. Can I still try to settle for a less amount with the lawyer, or is it too late?

I looked up the phone number online and it came up a listing for an attorneys office.

Also, if you give them your bank account number are they allowed to withdraw more than your authorize??

I dont think they have my correct address, since I have moved.

Also, the debt is for 1500 dollars...

Answer 1

Really... The lawyer can't do anything more to you than the collection department. It's not like he gets to take away your birthday because he passed the bar. Don't let him intimidate you.

My guess is he's going to try to put some high pressure, not very much time to make up your mind (or consult with counsel of your own) offer in front of you. He'll tell you to take it or leave it (leave it meaning we'll be seeing you in court). The truth is you're probably not going to show up to court. They'll file a judgment against you and use it to garnish your wages. Unless you owe an obscene amount of money that's probably as far as it goes (filing liens against your house or car are expensive so there reaches a point of diminishing returns).

If you're interested, you can probably go to Prosper.com and get a three year loan at a smaller interest rate than the guys you're dealing with at the credit card company. If they refuse to take it the judge will be happy to. Chances are if you're this far in the hole another hit to your credit won't make a life or death difference.

I'm not encouraging you to be a deadbeat. BUT, don't let these guys be @ssholes just because their big bad lawyer is trying to get you on the phone (if he were a real attorney, like a good one, he'd be in private practice making a lot more money).

Answer 2

I would call him back and listen to what he has to say. He might have the power to settle the case for less than what you owe. you have lost nothing by talking to him. SO what he is a lawyer (he is probably in debt too...there are so many lawyers now days that they are running over each other to get to the ambulances first).
If he decides he is going to take you to court so be it. That still gives you two months or so to prepare. $1500 is not an ungodly figure. you might be able to file your taxes early and pay that down to an amount where you can pay $50.00 or so a month and have it paid off.


Under NO circumstances should you give them your bank account number.
I wouldnt even send them checks.
Whatever you are going to pay them, pay via a postal money order (you can get them directly from the post office using your debit card for less than a dollar) Since you are at the post office at that time you can buy it and mail it all in one trip.
Dont be afraid of the lawyer. The cant talk shyt to you without consequences. They do have a bar association that can pull their licenses if they cross the line.
YOU do have rights
dont let him or anyone abuse them.
Hang in there....$1500 is not the end of theworld. you can recover from that!

Answer 3

A collection agency can not say they are a lawer if they are not. If they do this they are actually breaking the law. Because of this a lot of collection agencies are run by lawyers to get around this rule and make them sound more threatening.

If it is truly a lawyers office then they could be at the point where they are going to file suit against you for the debt. It is still possible to try and get them to settle. But since you would not only be liable for the debt but the attorney fees they will be less open to settleing or payment plans. Because they know there is a good chance they would win and eventually be able to garnish your wages. Not that it is not worth attempting to settle, but it would be tougher.

Answer 4

I think it is unusual for an attorney to call about a credit card debt. Listen carefully to what the message says. Does it say this is the office of so and so.

Wait until they send you a letter fully explaining what the issue is if you want to wait it out.

If not try to call the credit card company. They will have the history about who holds the debt at the present time. They will probably give you the number to a collection agency.

Collection people will try everything and anything to get your attention including saying they are a prize company and saying that they will take something from you.

Call the consumer agency of your state, normally listed under the attorney general's office, and ask them the law on this sort of thing. It's better to know what the collection agency can ask for and what they can't before you move ahead.

Usually attorney's send letters. Even then read the letter very carefully before you act. Sometimes they will say they will sue you in so many days and other times they say they MAY sue you in so many days.

It is never too late to say you want to reduce your debt. They may try to scare you into paying higher. Like they may say they will start adding more interest in so many days if you don't pay up.

Always ask them to send you that in a letter.

Answer 5

It is a bill collector pretending to be a lawyer. They will tell you anything and even threaten you. Did you not see the story about it on television about 2 weeks ago? Contact your credit card company yourself and talk to someone there first to see what you can do.

Then if this is an attorney, you do need to contact him, as they may be getting read to garnish wages or your bank account in monthly payment until the account is paid in full.

Answer 6

Small potatoes; lawyers usually don't give much of a discount on small bills like this 20-25% off - yes you can still settle most likely. Check by phone is A-ok.

Answer 7

You can try...tell him/her that you simply don't have the money and want to work out a deal.

Hope that helps!

Answer 8

Always try to go lower.
If you ask, you may get.
If you never ask, you never know.

Good Luck