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Introduction:
Oak View Law Group is a law firm registered with the California Bar Association & accredited by Better Business Bureau
Problem:
$11216.49 is a big debt. This however was the reality or extent of AS’s debt when she first came to OVLG to help sort out her debt problems. These were divided among 4 creditors
Analysis:
Keith Robinson, the client intake associate was there to help AS, by advising her of the correct plan & also by analyzing her total disposable was able to chalk out a plan that would suit AS’s pocket as well as put away enough money into the trust account that would later be used to pay off the creditors.
Plan of action:
AS was anxious to get rid of her debts, so when Keith advised her of the minimum payment of $300 a month toward the trust fund, she agreed. Due to the extent of her debt, this amount of monthly payments was mandatory if her debts were to be taken care of as soon as possible. Her four creditors were US Bank (Credit Card), US Bank (Personal unsecured line of credit), Target Visa (Credit Card) and Barclays (Credit Card).
Implementation:
Oscar Sanchez was assigned to assist her in negotiating the best possible settlement offers.
Creditor I – US Bank 10th Dec 2008 it was confirmed by the creditor that they received the POA from us. They were subsequently informed not to contact the customer & that all future communication should be done with OVLG. 03/13/09 creditor offered a settlement of $ 3440.08(One time payment). Oscar negotiated for a settlement of $2410(one time payment). The creditor approved this. A settlement letter was requested. We were informed that we would receive it by the 17th March’09. On receiving the settlement letter, the customer was ready to make a payment. 03/24/2009 Settlement amount paid to US Bank. Debt amount: $ 6,880.16, settled for: $2410.00
Creditor II – US Bank: 10th Dec 2008 it was confirmed by the creditor that they received the POA from us. They were subsequently informed not to contact the customer & that all future communication should be done with OVLG. 05/18/09 a proposal of $1000(in 2 installments) was made by the creditor. Oscar offered $750 in 2 installments. They accepted & a settlement letter was requested. 9/28/2009 the first installment of $500 was made & the final installment of $250 was paid on 10/23/2009. Debt amount: $2,005.03, settled for: $750
Creditor III – Target Visa: Client received summons from "Lyons, Doughty & Veldhuis, PC. Oscar spoke to the creditor & tried to negotiate for $850(One payment). They did not agree & said that the client has to pay in full. Oscar tried to get the customer & the creditor to on a conference call but t no avail. Advised the customer that they would not mettle this account & hence advised the customer to talk with the creditor. As per an email from customer the account was settled.
Creditor IV – Barclays (Juniper): Creditor proposed a settlement offer of $920(in 2 Installment). Oscar negotiated with the creditor further & proposed a settlement offer of $820 (in 2 Installment). This was accepted. First installment was paid to Barclays on 05/11/2009 & the last installment was paid on 05/11/2009.
Results:
At the end of a year, AS found she was relieved of all her debts. She was able to walk debt free with the help of OVLG, Oscar & her own determination.