I have a credit card with Bank of America that I currently owe $680 on. It's 90-120 days past due. They emailed me on the 15th and offered to settle the account for $517. That's about 75% of the owed balance.
It says the offer "may expire" if I don't act by 2/29. They also offered this to me the month before (I think it might have been a little hire amount to settle.)
My question is, how long do I wait for them to go lower? Or, do I call them and try to offer a settlement now, before the 29th?
Thanks to the payday forum on this site, I've been able to eliminate that payday debt from my budget for the first time in months, so I can actually pay a little bit on this now. But the most I can really afford at one time is about $150 (if that) and I'm willing to go onto a payment plan if I need to.
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