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Which credit card companies are more likely and less likely to enter into a settlement with a debt settlement company?

Posted: Thu Jun 14, 2007 5:32 pm Subject:

Depends! Every company will behave differently but at the end they want to get their money back. I know there are few like HSBC, Discover that are pretty hard to deal with.

If it's for a small balance, creditors won't take the matter to the court because of the court costs and attorney fees. It will be worth for them to settle right away.

loll · Posted: Thu Jun 14, 2007 7:45 pm Subject:

Discover Card is absurdly difficult. They insist that they do not offer settlements and become quite flustered when you tell them that you know for a fact that they do. I'm fighting them for a settlement right now and it's not going so well... they won't tell me WHY some accounts get offered settlements and some don't - they just keep saying mine is "not eligible" but won't tell me what the criteria is which makes an account eligible or not eligible. They also said that "policy" will not allow them to offer me a settlement and when I asked what policy that was and asked to see a written copy of said policy they said I couldn't have one. I explained that to the best of my knowledge, ALL companies are required to provide customers with written records of any policies they try to enforce and this operator laughed at me.

Point is, they don't make settling easy.

Guest · Posted: Fri Jun 15, 2007 8:28 am Subject: Come one come all

debt settlement is a good thing... I know it works, I just have an issure with rag-tag settlement companies give the industry a BLACK EYE.

Posted: Fri Jun 15, 2007 8:55 am Subject:

I know discover will settle after the loan has been deliquent for a while. One of my friends settled with them for 50% of what was owed he said. I was not in on the deal so I only know from what he is telling me. I think a debt settlement company arranged it for him. He had a lot of other credit cards that were settled along with the discover one but I do not know which cards.

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Internet's first get-out-of-debt community - 129,000 members

Which credit card companies are more/less likely to settle?

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