Debt settlement

Need advice on a settlement offer…

Remember this? Back in Nov & Dec we were being called daily from Zwicker & Ass. re: a Chase acct that seemingly could not be settled via our debt settlement program. Original acct from May, 2002 was $4350. Now they state $8490 is owed. I had settled 6 other accounts (paid off $14k) via the ECT settlement program, this is the last one, I had $1900 accumulated towards this when ECT refunded my money stating they could not work any longer on THIS Chase acct, so they sent me a check for the $1900 and told me I’d be better off handling it alone 🙁

This was *my* debt and my husband was aware but let me handle it, he finally took over negotiations as he is more patient and does not get riled up. He offered to send them $3500 and they (different reps would call simultaneously) kept stating they could not accept such a small amount but would check into it and get back to us. They did not. Jerry called them and left at least 3-4 messages asking them to call us. THEY DID NOT!?

Finally, last week, I rcvd a letter from them stating they were reviewing “whether the cost of litigation would exceed the likely recovery”, etc. …blah, blah, blah.

I have prepared a letter as suggested on this forum, but I am still confused as to the amount we should offer.

I have been advised here to: “So offer 25 cents on the dollar and work up from there. DO NOT go above 50 cents on the dollar.” ” and I have also read to start offering at 10%”…

And I am still confused as to what amount I base this percentage on, the $4350 or the $8490? So how much should I offer?

And should I use the USPS for this letter, with delivery confirmation? Or certified so I have an actual signature?

I understand that I should send the payment via UPS, Fedex or DHL.

Thanks so much…

I would offer $1500 and send it by fax…. go to a local Kinko’s or something and send it. This shows you mean business. Make sure to put a date of acceptance by such as:

In the spirit of good faith I am offering to settle this long disputed debt for the amount of $1500 and am prepared to pay in full on or before February 28, 2017.

Since time is of the essence please notify me of your acceptance no later than February 21, 2017 by fax at ###-###-####

Please understand that this good faith offer is not an admission of debt but a way to settle this matter in full.

Also, watch this video: