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Posted: Fri May 16, 2008 10:10 pm

Hi, I have a credit line of $4,199 and credit card of $1,595 with Wells Fargo. My husband also has a credit card with Wells Fargo. Do we settle these accounts separately or present them all together? what has been your experience?

oh and just to note, my husband and I are trying to settle this ourselves.

Posted: Sat May 17, 2008 5:38 pm

luv2laugh I'm not sure what your best course of action would be in this situation, but I'm quite sure someone who does will be along to answer you asap. Smile

Posted: Sat May 17, 2008 6:14 pm

I am assuming that these accounts with wells Fargo are all at least 120 days late or longer because a creditor will not negotiate on a current account. Honestly , you could do either : settle these accounts separately or present them all together. I would probably settle one at a time starting with the smallest one. Reason being , so you can see results early on to motivate you and your husband. Sometimes it helps to win some small battles first in order to encourage you to stick it out to win the war. I have settled several accounts at once before and one at a time . It really doesnt matter either way hinestly. Just be sure that you have around 40-50% of the balance debts saved up in your bank first because when you work out the settlement agreement the creditors will want that money asap. Also be sure the creditors mail or fax you the settlement agreement in writing. If its not in writing than its no deal. I have seen where people tried to settle on there own and worked out and agreement but didn`t get it in writing and thus once the creditor got the paymnent they still tried to collect on the rest of the balance. He had no proof of the settlement agreemenet to hold up in court and thus was forced to pay off the balance in full. I certainly hope this information helps you . Have a great weekend Very Happy

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