Fax Creditor Countersignature with airSlate SignNow

Fax creditor countersignature

well you've been sued by an original creditor not talking about a debt collector a debt buyer but an original creditor Capital One Discover Bank America American Express whoever it is and you've gone through your five options what are you gonna do and you decide you know what I'm going to settle this case and I'm going to do it online so how do you do that well obviously I don't represent you so I can't give you specific advice in your unique situation but let me give you some general thoughts about how this is typically done so you've got to figure out what are you willing to pay and you can do that in a lump sum so all at once or monthly payments where every month you're making a payment generally this is a lot cheaper you get a discount when you do money all at once if you're paying it over two three years then you're generally gonna pay the whole amount all right so you figure out well what can I forward you talk to the lawyer on the other side and you work out an agreement well then you've got to get that in writing okay and it's not that the at least Alabama collection lawyers I do it's not that they would lie to you but sometimes people misunderstand and so they see for $5,000 and you believe you're paying you know let's say $3,500 and you're settling it and the lawyer thinks no this is a partial payment well don't let yourself be put in that position of you know was it a partial payment was at a full settlement what was get it in writing now it doesn't have to be some long scroll signed in blood or anything it can be an email but just get it in writing so it's very clear what the terms of settlement are here's what you're paying here's when you're gonna pay it here's how you're gonna pay it in other words you're doing it over the phone online a personal check casher certified check how are you getting the money to them and then what will they do when you get that money - are they dismissing the case without prejudice I wouldn't be interested in that that means I can sue you again are they dismissing the case with prejudice that means it's over what are they doing with your credit reporting what are they doing about taxes so you've got to answer these questions and know what's going to happen before you settle because you don't want any surprises and then once you get that documented so you figured out what you want to do you talk to a lawyer you get it in writing and then you actually execute on it so you get on the money by the time they say and then you've got to make sure that they dismiss the case in the right way if they are supposed to do anything with your credit reporting they let you know if they're supposed to do anything with taxes they let you know so in other words make sure they uphold their end of the bargain and I will just say this about credit reporting generally original creditors if they sue you and you don't have any claim against them they're not going to delete the credit reporting but here's what you can do is you can make sure the credit reporting is accurate so you're sued for $5,000 you work out a deal for 3,500 you handle the $3,500 and then what's supposed to happen to your credit report well I'm ask you this question once you pay them that money and normally if you do a cashier's check like the next day they dismiss the case with prejudice over how much do you owe them do you own 0 or do you own $1,500 thank you o 0 right you owed 5 but they said tell you what you pay us 3500 and we're all squared away well once you pay it 3500 you will them 0 now well your credit report should reflect that so after you pay it you pull your credit report a couple weeks a couple months later you look on there and it says you owe $5,000 well that's not true what if it says you owe 1500 well that's not true either you need say you owe 0 now it'll also say something about settled and full for less than full amount or some kind of language like that but what I would suggest definitely focus in on is what is the current balance is that 0 or is it $5,000 or 1500 or whatever it's going to say I think it should be 0 if it's not 0 then you need to dispute that through the credit bureaus we have other videos on that so I hope that this is helpful if you're handling case on your own give you some kind of framework or some questions to ask and if you decide and going through this maybe you want some help or you want to get some coaching from us on this just give us a call two oh five eight seven nine two four four seven or Alabama consumer comm will get you to us and we're happy to chat with you help you if you live in the state of Alabama thanks for watching this video and I'll talk to you soon bye bye