I tried to negotiate instead of filing bankruptcy but the creditors refuse to negotiate even when I let them know that I was about to file bankruptcy. Now I want to see if I can call them or if there is a rule barring a debtor (me ) from calling them. The creditors ignored me because they think I was not serious about bankruptcy. I tried not to file but here I am. I am now trying to see if they will settle so I can at least dismissed the bankruptcy. I also tried the local law firm to negotiate for me but his debt settlement defeats the whole purpose of settling the debt since the lawyer when about 15 to 25 percent of whatever was negotiated. So let say the lawyer negotiate $1000 down to 30 percent then he wants to add 15 to 25 percent to that which is about 55 percent. I could negotiate by myself up to 40 percent but the debt was old and I just need them off my credits and some of them were judgment and those creditors feel like there is no point of negotiating with me. I tried to let them know about filing but they refuse to negotiate so now I guess they will get zero instead of getting something and we all win.
Yes, you can call the creditors, but better to write a letter detailing your payment plans and then call the creditors. You can also contact legal aid consumer law clinic attorneys for advice.
My answer is for general informational purposes only and is based on the limited facts given here.
Some creditors are hard-headed. You want them to be reasonable and work with you. In today's environment, that may be too much to ask for. Also, if your creditors are debt collectors, you are talking to people who probably work on a contingent basis - their earnings are tied to the amount they recover. Bottom line: if your situation calls for bankruptcy, then retain a bankruptcy attorney and file bankruptcy. There is no need for additional stress. Consult with a local bankruptcy attorney for more information. DO NOT file the petition on your own. Bankruptcy is complicated and is not a DIY project.
The answer provided is for general purposes only, and in no way establishes an attorney-client relationship.
Our Rating is calculated using information the lawyer has included on their profile in addition to the information we collect from state bar associations and other organizations that license legal professionals. Attorneys who claim their profiles and provide Avvo with more information tend to have a higher rating than those who do not.What determines Avvo Rating?Experience & background
Years licensed, work experience, educationLegal community recognition
Peer endorsements, associations, awardsLegal thought leadership
Publications, speaking engagementsDiscipline