No Faith in the Moral Standards of the Players as a Group

[sebastian_dangerfield]

Originally Posted by Tyrone Slothrop

If you hire a lawyer who specializes in (fighting) debt collection, is he adding value in litigation that suit, or in understanding what buttons to push to drive a settlement, or both, or something else?

You don't need a lawyer. Call up and negotiate for 20% if it's purchased (portfolios sell at .2 to .10). And call on third to last day of month. Collectors get desperate to make their numbers in the last week, and month to month performance of portfolios is closely scrutinized, as we always wanted to resell the poorly performing paper quickly, before it's out of statute of limitations and its value drops.

If debt is still held by lender, do the same. But understand, you don't have as much leverage.