Articles Posted in Settlements

Hunt and Henriques seems very trigger happy to sue but not so diligent in taking care of their lawsuits. If you have been sued by Hunt and Henriques or recently received a summons, there are several options available. You can file a chapter 7 or chapter 13 bankruptcy. You can try to negotiate with them before they get a judgment and most likely can get 70% settlement on what you owe. You can fight the lawsuit and hope they don’t follow the local court rules which isn’t as unlikely as you’d imagine. This is a major debt collector structured as a law firm, but one that is hard to get a hold of and one that doesn’t necessarily show up with the right documents to court.

A chapter 7 bankruptcy if you qualify will wipe out the debt completely. A chapter 13 will allow you to pay pennies on the dollar or if you have a lot of assets or money at least stretch your payments over 3-5 years depending on your income level. Hunt and Henriques is the biggest collector for Citi and if you spend any time trying to get a hold of them you will see why I believe optimism should prevail in the fact that you’ve been sued by a debt collector who doesn’t follow through with all their cases.

free_606999.jpgAdvising a debtor on who to settle with first can be a daunting task, but with the right advice from an experienced attorney, I can make the choices easier for you.

I find that Bank of America is a good creditor to take care of first, once you are 90-120 days behind as they usually give one of the better settlement offers from the beginning. I have settled many accounts with BofA with settlements of 20-35% and will usually not advise a client to pay any more with them.

Other accounts such as Discover, Capital one, Target can be higher amounts and I see settlements in the range of 50% more often than not. I also know who is likely to sue and when and am able to give you a clear timeline as to how much you’ll need to save to make this work. Debt settlement companies are loathe to explain all of this to clients and would rather take your money and have you drop out and file bankruptcy with no regard to the position that it leaves you in. I will be clear with you from the start and if you cannot afford debt settlement or I don’t believe that it will work for you based on your assets, ability to pay in a reasonable time etc., then I will give you other options and am always willing to allow $500 dollars that you pay towards debt settlement to go as a credit toward filing bankruptcy.