| Message |
Author |
 Posted: Fri Jan 26, 2007 7:11 am Subject: Settle MY Own Debt??? |
|
|
Hello Everyone, New member here. My question is --I have a debt of $10,000.00 with Discover. I am current on my payments but soon will be having problems paying it. I talked to several debt settlement Companies and they said I could get out for about $5,500.00. (This debt needs to be taken care of a.s.a.p.)Family member screwed me over and for my mental and emotional health I need to get rid of it. I want to pay but want to settle. I can get about $6,000.00 for pay back (selling some stock). Do you think I can negotiate my self and suceed? That way I can give all the money to discover and not pay 15% to the settlement co. Which way to go??? Thanks so much!!!!! [/b][/list]
|
|
micahisa
Joined: 18 Jan 2007
Posts: 3
Debtcc Points: 142
|
|
|
| Posted: Fri Jan 26, 2007 3:43 pm Subject: |
|
|
First, place a payment proposal with Discover and see if they are willing to work you. Take the help from here in the DIY section. It will guide you with some negotiation tips. If you are not able to arrange something that suits you, consult with a debt professional.
|
|
PassionHunting
Joined: 30 Jun 2006
Posts: 514
Debtcc Points: 3674
|
|
|
|
PinkLady
Moderator
Joined: 15 Jun 2006
Posts: 1447
Debtcc Points: 20300
|
|
|
| Posted: Fri Jan 26, 2007 7:09 pm Subject: |
|
|
If I were you, I would not let them know that you have stock you are willing to sell. I would just make the offer without telling them where you are getting the money from.
|
|
WHEREAMI
Joined: 26 Aug 2006
Posts: 5316
Debtcc Points: 71262
|
|
|
| Posted: Fri Jan 26, 2007 11:05 pm Subject: |
|
|
I had a discover card back in the day. They would never work out a settlement offer with me so that I could pay the debt off in full. I remember when I didn't have credit card debt at all. Discover Card was the first card I had. I hope that you can do it yourself and not have to spend the money to pay for debt consolidation that really doesn't help you out if you can do it yourself. Most credit card companies would rather deal with you than to deal with the debt consolidation company.
Try to Do It Yourself. They have great sample letters to send proposals (I am about to send one to a payday loan company).
Good luck to you.
_________________
The Best Way To Be Is Debt Free
and Alexandra is becoming free!
http://alexandra.yesdebtfree.org
|
|
Alexandra
Debt Samaritan
Joined: 10 Aug 2006
Posts: 561
Debtcc Points: 9852
|
|
|
| Posted: Sat Mar 31, 2007 8:46 pm Subject: discover settlements |
|
|
if you are over 120 days behind just ask them .They are willing to work with you .You must be very behind on bill or they wont negotiate .DO NOT TELL THEM YOU ARE WITH A SETTLEMENT COMPANY !!they will not negotiate anything with you if you tell them this .Settlement companies are worthless if you have not charged off yet .You will intentionally get a higher settlement offer if you are with a settlment company than if you do it your self remember 120 days or over
_________________
Register today to cash in debtcc points.
|
|
Cab
Guest
Debtcc Points: 100
|
|
|
