Acceptable amount before write off

[gent_boy]

Hi,

I have had bad experience with Margin account after LEH blow off, I owe margin amount to Brkr.
Brkr gave me couple of options and one of them is "Write Off". He asked me to bring money as much as I can and he will decide if that is acceptable for him or not. If acceptable, he will write off the remaining amt.

Anyone know what is acceptable amt before he goes for write off.

I owe 30K to Brkr.

Please let me know your opinion and suggestion.. I m really screwed.

Thanks in advance,

-r

[XOM]

Whatever amount they write off will be reported on your credit history. This is a debt just like any other.

Given that your credit is now trashed why give them anything? It won't make a damn bit of difference, you don't get any cool points from Experian for giving them a partial payment.

Don't worry about honor and doing the right thing, LEH et al have no problem skipping out on their debts why should you?

[Horsefish]

Feel your pain. Don't know the rest of your financial circumstances. XOM probably gave you logical advice.

At this point it is worth it to scrape up the $200 to go see a bankruptcy lawyer for a consultation on what would be best. Your broker will have great experience at sqeezing out every last dime you have. Best of luck. This too will pass.