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Posted: Thu Sep 04, 2008 1:20 pm Subject: WaMu (previously Providian)

I am attempting debt settlement with my credit cards. I haven't started the process yet. This card is only 21 days late and they call daily. ($14,000 balance) They seem pretty aggressive. Does anyone have information to offer me on this credit card. Are they likely to settle? I know I need to wait until around 90 days.

Posted: Thu Sep 04, 2008 2:42 pm Subject:

This can be settled if you go thru a debt settlement company. This is how I settled my WAMU card. I enrolled withSolicitation removed by Shazzers per TOS rules.

Posted: Thu Sep 04, 2008 3:16 pm Subject:

You can settle yourself. You don't have to pay anyone. Check out the DIY board here.

Posted: Thu Sep 04, 2008 3:29 pm Subject:

but dealing with the creditor on your own - you need to have huge chunks of money available to pay them in 2-3 shots. debt settlement can help you get monthly payments - and let them do all the dirty work. also, you're more likely to get a better settlement if your account is being negotiated along with multiple accounts for other customers. Atleast this is what I thought.

Guest · Posted: Thu Sep 04, 2008 3:53 pm Subject:

I just settled with my old Providian/WaMU card for 65% and making payments directly to them for 36 months. Didnt cost me a dime!!!

If you dont have all the $$, debt settlement isnt much help since you will just keep paying the debt settlement company until you do have enough saved up with them to settle. same thing.....do it yourself!

Posted: Thu Sep 04, 2008 4:00 pm Subject:

I agree with what you're saying... but I settled an account with debt settlement - and only paid 55% of the money - same time - 36 months. Guess what, they took all the calls. I didn't even speak to the bank. You tell me, what's better?

again, i'm not advocating the debt settlement programs. We all shouldn't have been in these shoes to start with. All i'm saying is - that I think that you should leave the work on the professionals. if you car breaks down - do you try and fix it yourself?

Guest · Posted: Thu Sep 04, 2008 4:04 pm Subject:

Guest · Posted: Thu Sep 04, 2008 4:07 pm Subject:

Posted: Thu Sep 04, 2008 4:10 pm Subject:

Good one... my 55% was all inclusive the fees n everything.
Maybe the car break was a wrong example - how about n open heart surgery... Do we have any surgeons here now Smile

Guest · Posted: Thu Sep 04, 2008 4:11 pm Subject:

ok...good for you!

My point is that I agree with the comment above about do it yourself....if you agree that a debt consolidation program worked better, then to each their own.

Tom321 · Posted: Fri Sep 05, 2008 9:18 am Subject:

dicordude and gsingh111 are surrogate mopes for the SCAM companies he/she are pushing.

Posted: Mon Sep 08, 2008 6:30 pm Subject:

dw371,

WAMU is probably one of the easiest companies to deal with. Of course they will call you everyday, they have a right to do it. They will settle for 50% off when you are five months delinquent. The question is will you have the money to settle?

Even if you join a debt settlement company and do not come up with the cash to settle, then what? debt settlement companies are great if you are going to come up with the money to settle, and do not believe these 36 month jokes, all debt settlement counselors and owners will tell you this just to hook you in. They make their money in retainer fees and monthly maintenance fees, if you want to join a debt settlement program I suggest you join one that will only charge you a fee if they settle the account for a oercentage you agree to. otherwise joining a debt settlement program with no funds in the horizon is like flying a plane with out fuel. Good luck.

Posted: Mon Nov 03, 2008 11:22 am Subject: .

I just wanted to add to this WAMU thread about about my experiences.

My account is due for charge off on Nov 28 and they first offered me a settlement last week of $4000 to eliminate my $12044 balance. Today they called me and have now offered me $2400 with 6 payments if I accept. I have til Nov 13 to respond. I wish I could afford the payments or can come up with the money. Maybe I can, but I will have to wait it out.

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