we are having a difficult time settling on a credit card. we want a lump sum settlement. we are two months in default..will they eventually settle? American expres is also resistant. any advice?
Bank of America will eventually settle after 160 days. American Express is harder. After 180 days they will send to different collection agencies to collect on their behalf. Many have gotten good settlements from these colection agencies. Just need to wait it out.
The only reason you are having hard time with Bank of Am is that it is not old enough.
I am now 150 days late stage as of this weekend. They asked me to do a budget with them, which I refused to do. I am in their Belfast office. I want to know if anyone else encountered this, and if they just pushed for settlement without doing the budget, even though they were asked.
I am 125 days past due, and they just pushed me for a budget as well. I gave them very shaky rough answers, but I think they just use this to check a box that you are actually in distress. They offered me a 38% settlement, which is the first time they have mentioned anything. What % should I counter with given that I have read BofA routinely settles for 20-25%?
I too was pushed for a budget plan as well the last time I talked to a settlement manager. I just ended up getting irked and hanging up. (which prob doesn't help my case any)
This budget request is very new. I settled 4 cards 3 months ago with them and no one asked for any financial information. I have 2 others I am working on and now they want financial information. I do not plan on giving it to them.
After countless attempts and worry, I was finally able to call and get the right person on the phone and get this taken care of. Got 30% on 8K. Now all I am left with is a $7400 Charge Off with Advanta and haven't heard from anyone there almost a month
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