Q: Bank of America is suing me for $7553 dollars. Can I still settle?should I call there lawyer notes on summons?
I made my last credit card payment in 2021. I called BOA July 2022 to settle and the bank could not find my account. I was told that the account was written off. I also looked at my credit report and it stated that the acct was written off. Court papers were filed Nov 2022. Can I reach out to their lawyer and try to settle?
A: Yes. And, get an extension in writing from the lawyer for answering the case. You do not want to default.
Daniel Michael Luisi agrees with this answer
A: It is recommended that you have a consumer credit defense attorney demand the documents in the credit account to assess any potential defenses such as the doctrine of laches, failure to include new, additional disclosure requirements in the court papers pursuant to CPLR § 3016(j), as well as failure to comply with additional notice requirements pursuant to CPLR § 306-d, along with many others. By bringing up such defenses with the creditor, you are more likely to negotiate better settlement. It is also not a bad idea to try to include a condition in the stipulation of settlement to delete the negative tradeline from your credit reports (though not all creditors will agree to this). Contrary to popular belief, settling a delinquent account usually does not actually help your credit worthiness, and may even damage it further (it will be reported as "settled for less than full value"). That being said, I agree with Mr. Siegel that you definitely do not want to ignore the lawsuit: what happens next in such cases is that a default judgment will be entered and your bank account funds frozen for collection by the NYC Marshal in your bank's jurisdiction.
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