I wanted to send them a debt settlement offer via letter/mail but I thought maybe calling them might be better. And once we reach an agreement on a settlement amount, then ask them to send me a letter of acceptance of our verbal agreement or just write up the terms discusses before I send a check.

Should I go about it via phone or mail?? I know to get EVERYTHING IN WRITING before paying but I mean just the initial discussing offer amount??? THANKS!

Technorati Tags: Debt Settlement, letter mail, letter of acceptance, verbal agreement

I have a verbal agreement (which I know is worth the paper it’s written on) for half of the total balance. However, they want a lot of personal info relating to our hardship: bank statements, paycheck stubs, self-employment income, and list of expenses. I’m uncomfortable providing this information. They do have a judgment against me and I’m afraid to put much money into our personal account. What information should I definitely NOT give them?

Technorati Tags: bank statements, judgment against, much money, paycheck stubs, personal account, personal info, self employment income, verbal agreement

This is quite a story !!

Back in July 2007 I was working for a small heating business. The owner at that time also had a large profitable business and I had been led to believe that he purposefully made it look like the smaller business hadnt made a profit – for tax reasons I believe.

Now this chap had become a friend after working for him for a few years and he asked i I would like to take the business on so that he could follow other avenues. He showed my figures and made be believe that the company was profitable (I was young and naive) so I took on a £25000 loan.

To cut a long story short he said to me that I did not need to pay him until the company made a profit and to keep the £25,000 as working capital. The trouble is the overheads were so high that it never made a profit. I tried moving premises to work from home and also made the office girl (his daughter) redundant but copped for paying her redundancy (3/4 yrs worth) even though I’d only ran the company for around 8 months. Also to give you an idea she was on £16,500 for part time hours (one of the many overheads !)

Any way after just over a year the business had swallowed my £25,000 and I’d spent my savings (circa £7,000) on wages for myself, so I shut it down and sold the assets (4 vehicles, computor, small amount of stock)

I’m still paying the original loan as I refused to go bankrupt (like an idiot !) and still have 5 years left.

I recieved communication last year from the bloke in question saying that the time to pay had arrived and that I owed him £20,000. I emailed him about the trouble I’d had, the verbal agreement about paying him when the company made a profit and the fact that we had no written contract. He never replied.

He has now contacted me again, apologising for the 14 month delay in coming back to me and stated that I owe him £18,000 unless I want to settle the debt privately, in which case it would be £16,000.

The thought of taking another huge loan scares the crap out of me ! I’m now 29 and only just getting myself straight. I have no mortgage and a car on HP.

Do you think I’d have a case if this went to court ? I’m going to see the Citizens advice bureau as soon as I can as I dont know where to turn or what to do next ?

It has crossed my mind that he’s waited this long so that some of the records are now no longer ‘available’ although I dont know the ins and outs. How long can he chase me for ? I fear that I could be taken for theft as I sold the assets (although the vehicles were transferred to me) ?

I guess I may just have to take the loan ?

Any advice appreciated as always

Technorati Tags: assets, avenues, bloke, chap, crap, office girl, overheads, part time, premises, profitable business, redundancy, stock, time hours, verbal agreement, wages, working capital

my x ows me money. we had a verbal agreement for him to pay then he signed a personal letter stating that he would pay 150 every month untill the CC was payed off. he made two payments then stoped. he ows me more money that the bill is worth but that is what we agreed apon separation. i want to send him a bill/ attemp to settle the debt before i take him to court and i need help writing the letter. i don’t what to say somthing that he can come back and get me with. CAN Any one help!

Technorati Tags: letter stating that, money, personal letter, verbal agreement

My former husband and I had a joint credit card account ( we both signed ). When we divorced, the outstanding balance on the card was about 9,000 dollars. We did not specify in the divorce documents who was going to pay this debt off, since we had a verbal agreement ( I know, stupid me ). In between my divorce and myself getting married to my new husband, my ex filed for bankruptcy. Recently I have been getting calls and letters from collector who is threatening to seize assets of myself, my new husband, and anything our jointly owned. Can they actually take my husband’s own assets, like things he had before getting married? He understandably is worried. Oh, we are in FL.

Beth

Technorati Tags: assets, bankruptcy, credit card account, divorce documents, verbal agreement

I have made a huge mistake and made a verbal agreement over phone to put money in my bank account for the collector to pull out the payment for today, and didn’t have a dime in the account. I tried renegotiating with them, but they are very misunderstanding and disrespectful. I don’t have the money to pay off a settled debt of 48.00. The original debt was 08.00. They did send me a notice and the phone call was recorded. I do want to pay off this debt but i just dont trust giving my information to rude, disrespectful people. I know they just want their money, but how can I make this work? Can I just ignore their calls until I do come up with the money? And what can happen to me? I can’t go to jail can I?
now that ill have bad credit at 19 years old, what can I do to get it back up? and what can i do about my bank account? i’m afraid of putting any money in there now that they have my information. can i just close it?

Technorati Tags: 19 years, bad credit, mistake, money, phone call, verbal agreement

Is a long story but to cut it short, I can’t get back my money now. I was being setup as boyfriend and gal friend. The girl pretending to be my gal friend told me that she was in financial difficulty and ask me to help her out by swaping my credit card in advance first after which she will pay me back at end of month. She bought herself clothes, shoes & bags which amounted to RM4.5K. It is only through trust and verbal agreement i agreed to help her out. Later on I found out that she was cheating me of my money. Right now, she refuses to settle her debt and even threaten to file sexual harassment report against me not unless I cancel off her debt. I thought of taking this to small claims court but then I was told that if I do not have any written agreement to support my claim it will be of no use. I do have recording evidence but was told it cannot be accepted as an evidence. Has anyone come across this situation before? I do not know what to do now. *sigh* Any advise is welcomed.
The person who passed me the small claims forms told me that recording evidence cannot be accepted. I will check further on the law in my country.
My legal advisor told me that audio or video cannot be used as evidence in court as the contents can be manipulated.

Technorati Tags: amp, clothes, credit card, evidence in court, financial difficulty, gal friend, money, sexual harassment, shoes, small claims court, small claims forms, verbal agreement