Zwicker & Associates – Some Things You Should Know
If you’ve received a letter from Zwicker and Associates PC, there’s a pretty good chance that a credit card company is thinking about suing you for an unpaid bill – probably American Express, Discover or Chase.
So, what should you do now?
The last thing you want to do is ignore them because the situation is likely to escalate and get worse. Don’t panic however, because there are solutions.
Here are the Steps…
American Express – If American Express sent your account to Zwicker and Associates PC they will sue you because American Express is one of the most aggressive creditors, and very quick to send their accounts off to Zwicker. As a matter of fact, I’ve seen accounts that weren’t even 60 days delinquent end up with Zwicker’s office for the purpose of litigation.
If you can afford to resolve your past due American Express account with Zwicker before a lawsuit is filed, this may be a good option, but of course it depends on the stage of delinquency. You see, Zwicker & Associates is limited on what they can do by how far delinquent your account is. In this case, it’s probably best to hire a debt settlement professional to represent you, either a lawyer or a debt negotiation company, one of whom will be very familiar with American Express settlement guidelines.
Discover Financial Services – If your Discover account was turned over to Zwicker and Associates they may or may not sue you. However, once a Discover account ends up with Zwicker, if you want to settle the account, don’t expect to settle for much less than 80% of the balance. Discover instructs Zwicker to not accept less than 80% of the balance when negotiating a settlement. And, I can tell you from years of experience, Zwicker & Associates holds out for that 80%. This has caused some of our clients to be put in a severe bind. Those who couldn’t come up with the money either had to enter into a long-term payment arrangement with Discover or ended up in bankruptcy court.
Chase Card Services – If you have a Chase account that was assigned to Zwicker and Associates, there’s a 50/50 chance that you will be sued. If you believe that you’ll eventually be able to come up with enough money to settle your account (probably around 40%-50% of the balance), but you don’t have these funds immediately, don’t worry – you have some time. Once Zwicker contacts you with a letter, the Fair Debt Collection Practices Act prohibits collection agencies and law firms from taking any legal action until after 30 days from the date of their original letter.
If this time passes, and you eventually receive a summons stating that Zwicker & Associates is suing you on behalf of Chase, you’ll want to file an answer to avoid a default judgment from being entered. After doing so, you’ll receive a court date in the mail. But, there’s a good chance you’ll never need to appear in court as long as you make the necessary arrangements to pay off your account via debt settlement prior to that assigned court date.
Hopefully this information has been of assistance to you, but if you need additional information on what may or may not take place with Zwicker & Associates, feel free to contact us.