About Michael Brotherton Expertise Consumer/Debtor Rights Advocate.
Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years.
Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com.
FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY.
Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be.
Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems.
www.financialemergency.com (copy and paste in browser).
Experience 30 years experience negotiating disputes and resolving financial issues related to consumer debt, corporate debt, and mortgage restructuriing.
Question Mike, I have an old Citi Bank credit card judgement on my credit report going back to 2003. The original debt was $6,680 and when i contacted them recently they told me it is now $8024. They have not garnished my wages or put a lien on anything cause i do not own a home. I am trying to get a loan to purchase property and need to pay this off. I did contact them and told them i had come across some money and wanted to negotiate a payoff. After talking with them the lowest they said they would take is $7000! What is expert advice on this, should i give them $7000??
Answer No, you can do better. I have negotiated wth CitiCard for as little as 30%. This really depends on what they think they can collect otherwise through conventional means. SInce you dont own property they would have to garnishee your check to collect their money. Given an alternative they would rather have the lump sum now rather than later. You have a shot at a much lower settlement.
If you need help negotiating I would be happy to help. Call my office 937 372 8581.
