Would it be a mistake to ask for a settlement from a creditor when we are in private arbitration?

Asked almost 2 years ago - Goodyear, AZ

Would it be a mistake to ask for a settlement from a creditor when we are in private arbitration?

I have no case as they have objected to everything I asked for. The only case I thought I had was breach of a verbal contract which I cannot prove without documentation from the creditor.

Attorney answers (4)

  1. Eric Jerome Gold

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    Contributor Level 19

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    Answered . Mr. Konst is correct. Based on the facts presented, you do not appear to have a position of strength from which to bargain. As to whether or not you can try to negotiate some sort of settlement agreement, you should try to negotiate as best you can. Your facts are silent as to the amount at issue. If it is a substantial amount, you should seek the assistance of a local debt settlement attorney.

    When responding to questions posted on Avvo, I provide a general purpose response based on California law as I am... more
  2. Harry N. Konst

    Contributor Level 12

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    Answered . Absent the threat of bankruptcy, you appear to lack leverage in the facts you have given.

    I am not your attorney. Contact an attorney for advice immediately.
  3. Stephen M Trezza

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    Contributor Level 17

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    Answered . Settlement is always an option.

    This answer does not create an attorney client relationship between you and I. I am not your attorney unless we... more
  4. Frederick Charles Thomas

    Pro

    Contributor Level 10

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    Answered . You have not provided much information. However, you can always inquire as to whether the other party is amenable to settlement.

    The above statement does not create an attorney-client relationship and the submitting party should not consider... more

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