Discover Card

Well, I'm gathering the nerve to make my first call to them right now....I'll let you know, I promise

Let us know how it went.

They would not budge an inch at 90 days (three payments late) - must be they need more time and they will get it because it is my only option and if they don't want my money, somebody else will.

I had a discover card and they are very quick to send it to a collection agency. I was not able to settle at all and once it was in collections, Discover would not work with me. I had to pay the collection agency. Are they willing to work out a payment plan with you. I would hate to see you go into collections.

First of all, did you have enough money to make a lump sum offer? I have $10,000 - I had over $100000.00 in credit card debt and debt settlement is my only option. If I give them $10,000 it's about 40% of what I owe them. They haven't mentioned collections and they still call daily - one thing they keep saying is I'm not eligible for settlement - I'm assuming their policy is 120 to 180 days delinquent. They offered me a payment plan at 17% interest; I can't even make a mortgage payment right now so that will not work for me. I need debt settlement or we will be in Chapter 7.

Spatterson - were you able to offer them a lump sum settlement?

Yes, I had enough to offer them 50% but the difference for me was it was in collections and the collections company would not accept anything but the full amount. Discover card did not wait around once I was 120 days late. They sent me immediately to collections and once I was in collections, when I would call discover, they would just tell me I needed to contact the collections company.

I did not offer Discover themselves a settlement so you may get further than I did. This is just my experience but I would keep trying as long as you can. The worst they can say is no. I just wanted to give you a heads up on the fact that Discover does send to collections, they don't hold on to charge-offs.

Keep us updated. I would be interested to see how it turns out for you.

I had a card with Discover and my limit was $3,600. I let mine go and not paid anything for several months. I was with Hess Kennedy at the time and they did nothing for me. I pulled out of the company and settled on my own. Discover sent my account to Zwicker & Assoc. I have my own personal rep. I talk with maybe twice a year and she set me up on $25.00 a month. The only thing I had to do is answer the letter when they sent it to me, call the office of Zwicker and set up my payments. The lady has been nice to me and when I can afford more money monthly I'll send it. I'm in no hurry to send more. I have to live you know. But anyway, I have no interest on my account and Discover didn't like it when I told them I was with a debt settlement com. So they got their own lawyers to handle it. I hate all Credit cards. I've had to learn the hard way. You can't live on PLASTIC for everyday needs. It won't work. Good luck with your story.

I will keep you informed. I really feel I will settle this debt no later than May.

We received a letter from Discover to settle at 30%. They even sent a calling card because our phone was disconnected. I searched on the internet and found someone else had received a 20% settlement letter.

They were fast to report it to the credit agengies.
Where BOA kept reporting my card as over 90+ for almost 10 months after we had paid the lump sum settlemenet, 50%, and received a letter of acknologement.

Citicards, 70%, took about 6 months to show as settled.

I too have a charge off that was sent to Zwicker. I owed 10k, gave them 3k upfront and entered into a $400 a mth settlement program with them. This past week, I ran my credit report and Discover is listed as a charge off. They assured me at Zwickes my credit would be clean.

What is the deal? If I pay in full and the chargeoff is on my creidt, I would just as soon take the $4oo a mth and put on student loans.

Any thoughts?

I too, am desperate to get out of debt. Zwicker will not budge an inch on Discover. They threaten me with judgements and lawsuits every time I contact them. I have had other credit cards settled for 50%. Is Zwicker bluffing?

I too, am desperate to get out of debt. Zwicker will not budge an inch on Discover. They threaten me with judgements and lawsuits every time I contact them. I have had other credit cards settled for 50%. Is Zwicker bluffing?

Are you still w/in the SOL for your state for Zwicker to take legal action? Is the debt significant? They do bluff but they also sue.

I have a Discover with Zwicker too. I just sent them a DV letter. Has anyone had any luck settling through Zwicker for less then the balance? Or is everyone hitting the same brick wall where they want the entire balance?

I recently spoke with a representative with Discover who has placed me on an excellent payment plan. Over the last years, I couldn't get anyone there to help and it wasn't until I called this weekend that the girl who answered was very nice and understanding. But just an aside note for you guys, I was speaking to her with my account showing that I had been paying and I, also, was able to show her that in spite of paying them over the last two years the original amount had not moved very much at all. My suggestion is find someone at Discover who will really listen and hopefully, they will put you on a payment plan which you can work with.

they want around 70% ? :-O

Discover sent me a letter 2 weeks ago offering to settle for 40% of my debt. I called them, told them I could not pay it all at once, and am paying a set amount for 4 months.

The after 9:00 pm - name of company is CMA Collectionscollection agency they hired to collect my debt calls before 8:00 am and . I owe $10K and am 120 days late...I have called Discover for past 18-months begging for a reduced interest rate which is 29.99% I have ALWAYS paid on-time and more than the minimum, they didn't want to help AT ALL. One rep told me long term repayment plans are available, he had to transfer my call to 'another level' the guy who got on the phone was RUDE and told me my case is being sent to fraud & loss prevention department...we didn't even discuss options.

I want a payment plan or better yet a settlement.

Any advise is APPRECIATED. :oops:

my experience with discover was that they were the most agressive, and nasty, but after about a year they settled for a great amount.?? So just hang in there.

Let me assure you that Discover is ruthless. Acccording to their attorney that contacted us to get a committment on a good faith" payment to "avoid a lawsuit", Discover will sue for full payment if you don't pay them. We've had Discover paid off more than once and they were more than eager to increase our line of credit. When we started having a string of bad luck and couldn't pay our bills they would not work with us. My husband's brother died 3 years ago, he lived in another state and they called us trying to find him. They even called us several times after we told them he was deceased trying to get my sister-in-laws phone number. We didn't know it because they were in the middle of a divorce when he died and even if we did know her number we sure wasn't going to give it to them. So, like I said, Discover is ruthless, they don't care about anything but the almighty dollar.

O.K. Now I'm scared to death about Discover. I'm 167 days late with them.

I don't know how on earth the person a few posts above got 30%. I've had zero success getting anything other than 0.9% 5 yr. payment plan.

The only experience I had with Zwicker was with my wife on Amex. Sent a DV letter and what did I get? Last months statement and a partridge in a pair tree (a judgment letter a few days later). My judgment with Zwicker for my wife will occur within a week if I don't do anything.

This is the worst news I have heard yet about Discover.....they send their stuff to Zwicker. YIKES!!!

Just for fyi I've had pretty good success with others. Has ANYONE ELSE had success at settlement with DISCOVER???

Ed

Look, these people took advantage of you and already knew
a certain percentage of you would not be able to pay and that you would suffer greatly. They also will use a certain percentage of your failure to pay them as a tax write off. That is figured in their balance sheet before you charge a dime. This is why they seem like they don't care when you get them on the phone. It means nothing to them whether you are the individual who pays or you are the individual who dosent pay. Decisions are calculated for the human resources person who answers the phone based on their rank. There are generaly only two numbers and they don't differ greatly. So knowing this, if you are looking at Bankruptcy, paying them nothing seems your best option. But you better do it before they push through any more protection like the student loan banks, or you will owe them for the rest of your life and even after your life through your estate.

I've had a lot of trouble with getting Discover to work with me on a settlement. I'm between 150-180 days with them and the lowest they have offered to go is 60%. Basically they are saying because this was a balance transfer, which it was, they cannot go any lower.

I guess I don't understand that, because whether it was a transfer or a bunch of charges, it doesn't change the fact that I can't pay it. Nor does it likely mean they can sell it for more to a collection agency. So... not sure why this exactly makes a differnce to them.

I actually have a Discover balance, it was the smallest of all of my cards, however I had to take it out of the debt settlement program because they told me they don't work with settlement companies, and they're serious. My settlement company said I should probably take it out b/c they were not working with them. I got a letter from them proposing 3 things - one was a $25/month payment per month, the other was larger, but would pay it off in less time...and the 3rd option was to settle the debt, but I needed a big lump sum each month (upwards of $800). So I took the second option. I would just go with choosing an option that they offer you....most likely better off this way....

I am so frustrated with discover card, I started a blog,telling my story. //ihatediscovercard.blogspot.com

I will then start telling all the little schemes that card companies are using to keep us in debt. Hopefully we all can get out of this credit crunch, which is hurting our economy.

Kevin Harwood--- I went to your blog...do you REALLY think anyone reading these posts is going to "donate" to YOUR cause?! Get off of this site...you're some low life company trying to pose as a debtor in need! How do people like you sleep at night?!

I've offered to settle with Discover but they won't budge; I'm 150+ past due on a business debt. If I ignore Discover's phone calls will they MOST LIKELY send me some sort of settlement offer? Is this what happened to individuals who have successfully settled with them?

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My smallest card is with discover the balance is about $5500 I am between 180-210 and they sent me a summons! my smallest account! I have accounts with almost 40k no summons discover at $5500 summons! I called the attorney and they would not take a settlement all they would do is accept a payment plan for $187 per month with a 4% interest rate I have no money but if they would offer me even a 60% settlement I would put it together but they are not budging! well... I have 30 days to respond to the summons I guess I will try to call back in a week... any suggestions??? I am all ears!!!!!

I realize that it's better if you call them instead of answer the phone when they call. After I spoke with them they don't call that much. I sent Discovery a letter yesterday given detail of my financial situation and let them know that I will send them another letter next month to update my status. At least they know that I am not ignoring them. My balance with them is around $6000.

I also owe discover, I offer Zwicker 50% of what I owe.They said they would not settle for anything less than 65% that another 1600.00 dollar i don;t have they said their ging to sue if I don't come up with the rest!!!

Depending on which state you live in. They can sue all they want. It's unsecured debt and there's nothing they can do about it. Certain state do not allow for wage garnishment, so even if they win a claim, they are not going to get jack other than what you are able to offer to pay them. If I was overextended because of jobs, medical, or hardship, I wouldn't worry about the unsecured creditors. i would worry about my family first.

Hhaving a great FICO score just meant that you're good at borrowing money and staying in debt. Cash is King!

it is not uncommon for them to threaten to sue. its thier way of scaring you into paying what they want. stay firm and if they sue you oh well. it happens and there are far worse things.

Ask for a supervisor when calling Zwicker. Tell you can do a payment plan or can settle for say 50-60 % of the balance. Give them these two options and leave it up to them to accept either one. They cannot refuse a payment on the account regardless. Then ask for confirmation of converstion/agreement. If they do or do not send, you have the right to talk to the original creditor regardless of going to an agency. If the credit tells you to call the collections agency tell them you have the right to discuss your account with the original creditor to work out an arrangement. Keep calling your original creditor if they tranfer you. ask for someone higher each time.

I think that you are playing the victim card. No one put a gun to any of your heads and said, "Hey go out and spend money that you may not be able to pay back!" If something bad happened to you sorry, you took the risk and you are to blame; no one else.


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I just spoke to a Discovercard Rep (10) minutes ago and he said they don't settle...my account was closed while in good standing with an available balance after 10 years as a good customer...I have been paying every month and the balance just slightly declines...credit cards are bad, even when you do the right thing...

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Discover really not easy to settle!!