Selip & Stylianou Discover Bank Lawsuit Settled for 25%

A Selip & Stylianou Discover Bank lawsuit filed to collect a credit card account balance can be settled for pennies on the dollar.

Selip & Stylianou LLP is a debt collection law firm operating throughout New York City. Selip & Stylianou Discover Bank lawsuits demand immediate payment of the full credit card account balance. These balances include interest accrued at the credit agreement’s default interest rate.

If you are facing a Selip & Stylianou Discover Bank lawsuit, you may be curious about what debt settlement terms are available to you.

Many Discover Bank debtors remember having received debt settlement offers in months or years past, over settlement terms such as 50% of the debt, coupled with a monthly payment plan. The debtors turned down the settlement offers, either because they could not afford it or they were holding out for a better offer – or both.

Now that a Selip & Stylianou Discover Bank lawsuit has been filed against the debtor in the New York Civil Court, the debtor has become much more open to the prospect of paying a settlement. The problem is the chances of the debtor seeing the Discover Bank lawsuit settled for 50% or less are pretty slim.

The filing of a Discover Bank lawsuit shows the Bank has invested further in the debtor’s account, by hiring a New York law firm to pursue the case. Due to this increased expense, it may now be more difficult to get Discover Bank to honor its prior 50% settlement offer, let alone to sweeten the deal further.

However, by fighting the case aggressively in court and disclosing financial hardship to Discover Bank’s lawsuit attorneys, it is even possible to negotiate a settlement in the 25% range!

If you need to settle a Selip & Stylianou Discover Bank lawsuit, our Queens & Brooklyn debt relief lawyer can help.

Email us a copy of your Discover Bank lawsuit for a free case review.