I owe a credit card debt to Discover card. I quit making my payments to save for settlement. They sent my account to a place called On Core (sp?) for collection. What happens now? An account manager from Discover said that Discover does not settle on their accounts, is this true? I had a cash advance with Discover on 4/24/08. I made my full May minimum payment but have only made good faith payments since. Do I need to bring my account current and continue paying until October 2008 in order for the debt to be eligible for debt settlement so I don't get sued? I heard Discover card sends their accounts to attorneys. Please help. I don't have the money for debt settlement companies. We have already been "taken" by one and lost a lot of money.
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Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
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The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.