Anyone have success settling with Unifund?

Unifund, the company that bought my credit card debt, will only settle with my debt settlement company for 80% of the balance after fees and interest. So what used to be an $11,000 credit card debt has become a $30,000 debt to Unifund. I have been approved for an unsecured loan from my local credit union for $16,000 and the rest I have saved in trust at the settlement company to pay Unifund this week. My question is would I save more money if I tried settling the debt with Unifund directly (with a payment plan) than to pay the interest on the bank loan at 11.57%? How would each option effect my credit? Would the bank loan look like a "good" debt while the payment plan to Unifund look like a "bad" debt?

17 Answers

Don't blame it on Unifund. You purchased something that you didnt pay for, they are just trying to collect what you owe! Your consequence is owing more because of what it costs these companies to deal with you. If you all would pay your debts you wouldn't owe anyone!

No, I don't work for them, I just get tired of people bad mouthing companies, when it's your own wrong doing!

 


Unifund puchased a $1000 debt with Disc I had... it's well over 10 yrs old, but Unifund filed court papers and the judgement is now attached to both me & my husbands name.  How do we get this taken care of?  Unifund now says the amount owed is $14,000 and they'll settle for 7000...  Is there any way to get this taken care of for less?  I'm unable to even borrow 500 to pay for auto repairs, etc... 


We beat Unifund. It took time, and patience, and smart lawyers, but we beat them. And they paid the bill. They collect in Florida via Pollack & Rosen.


I guess it is old news, but unafraud has teamed up with rapper Russell Smmons for the rush card, already being investigated. I beat them in court, but it was a real pain. Make sure you make them show they are entitled to collect and beware their tricks. They can be beat. Most people don\'t take them seriously and they win by default.


Do not pay them anything! You can win this because they will not have the paper trail, the form you signed. Therefore, they cannot prove this is your debt. I just beat them in court in Orlando, FL so I know.


An offer in writing from the creditor does not commit you to a payment and it will not change the SOL as long as you have made no payments and you did not sign anything. Creditors send settlment offers out all the time that people turn down.

Personally I wouldn't pay them anywhere near that 30k amount even if it is a fresh debt and the SOL has not even come close to expiring. For that amount of money you could easily afford an attorney that would probably tear these guys up. I'd kick that settlment company in the butt too for not giving you better advice. I think they should know better unless I am missing something about your situation.

Just look at it this away. I think you can settle for around 6k. They want you to pay 24k. That leaves you with 18k to pay a lawyer which will buy a pretty darn good lawyer. If you play your cards right you could tag them for fdcpa and FCRA violations along the way and reduce the amount you owe even more.


if this is truly past the SOL.then it shouldn't be on your report.dispute the entry with the CRA'S.do not deal with these clowns until your disputes are heard.

giving hope to the hopeless,help to the helpless,and hap to the hapless.

Do not pay them anything! You can win this because they will not have the paper trail, the form you signed. Therefore, they cannot prove this is your debt. I just beat them in court in Orlando, FL so I know.


I didn't see the part about the debt approaching 4 years deliquent and being time barred. I bet that company bought your debt for maybe a couple hundred dollars. That is disgusting. If you are close to the SOL then try to stall and make the SOL expire. I bet that company can't even validate. Personally I would gamble on that and hire a lawyer if they sue. You need to probably take the matters into your hands and send them a DV letter and cut the settlment company out unless they provide lawyers.


I am checking my records more closely for the last time I made payment but I am pretty sure that it is close to the MN SOL of 4 years. My debt settlement company has already gotten the settlement offer in writing for the 80%, is it too late???


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