This is what Im thinking...Opinions needed...

I am back about two months on two Chase cards totaling $12,176

Do you guys think they will settle for 25-35%?

Im thinking starting at 25% and going no more than 35%. They would have to agree to split it into 6 monthly payments. I can only give about $600 right now so hopefully they will consider that a down payment?

They just called today and I mentioned for the first time that I was going to get a debt settlement company. The person on the phone immediately offered me a .55 cents on the dollar settlement offer, which is $6,696 payable in four payments. I advised that I would look into getting a better deal.

Anyone think this is acceptable?

you might do better in another 30 days, Im over 90 days out adn they only offered me 75% on 16K

They only offered me 70% as well at 120 days and told me to call back at the end of the month. I'm going to call the day before Thanksgiving & hope someone wants to make a deal before the holiday - and also heard that the end of the month is better for settling as well.

But at about two months now they already offered 55% so Im going by that. I would definitely not go anywhere over 35% simply because I cant afford it.

thats pretty good at the 2 month mark, keep making them phone calls andstick with it hang in there, i agree the deals work out usually at the end of the month scince they are going to want it out of thier books by then

I just had a long phone call with Chase, the guy said the settlement is dependent on how long your account has been open. One account I had open since 2007 he offered a 60% settlement. The rest which are a little over a year old he could only offer me 90%.

According to him I won't be eligible for a hardship plan or much of a settlement because they are fairly young accounts and they haven't gotten much money from me in interest or fees.

My last payment was in September.

Im sticking to it....But the guy said he would call back Friday and he didnt...I am calmly waiting...

just hang in there, i think your biggest problem may be getting the 6 month payment plan. alot of times they want all of it upfront alot of people are getting 3 months but settlement is hard enough to negotiate without having to add another obsticle. try to save up as much as you possibly can while you wait. sell stuff and stash it away.

Well today I got them to go down to 40% so I am definitely sticking to 30% now. It was too easy...

I know what you mean about the 6 month plan though, he only offered 90 days...which will be hard for me, specially now that I was just informed I have no job

My buddy settled a few months ago 2 accounts 20k and 19k & some change. He did 4 payments of 1k, direct w/Chase (20%), the other went to a CA and he did the same terms with them. I just settled my first one last week, bal was 9.5K settled for 2750 lump, that was my offer period...That was day 70 or so and it had gone to a local law office...