Discover Card

Discover offered to settle with me for around 40% roughly 5-6 months after my payments stopped. I couldn't come up with the settlement and now the outside collection agency is going after the full amount.

I have the 40% - they have been the most difficult so far to deal with, calling constantly, even after they get off the phone with me, then call again. I talked to them on Thursday, they have called all day Friday and today, it so stressful and I can't wait to get this over. They know I have been out of work, they know I can't pay my mortgage so why prolong this and not just settle with me while I have the money? It's all just fear tactics ...

Thanks for your input.

Debt, I have found is from Satan. So if is from Satan, then know that whoever tries to get you into debt, is, yes, Satans minister.......They trap you in a trap, where you cannot pay back because of the interest they charge you......stand strong, and believe that God hates this kind of thing. He knows who they are. Do no fear, above all things, for fear is not from God. I know where you are, I have been there. Finally I have learned where this debt crap comes from. Believe me, never again will I go into debt for anything. The pain and stress which comes from these people is almost unbearable!! Their day is coming........Usury is the word for interest in the bible.......Hang in there, this too will pass. Get out your bible and read........even God Himself said to forgive debt.

discover was by far my worst harrasser. If i would have known better i would have sued them. They called all my family members and told them about my debt and that they were going to sue me. I was just to dumb to know that they were breaking laws at the time. I wish i had documented all them calls (i suggest you do time, date, name, what they said, etc).

on a further note though i eventually got a good settlement out of them about 25% after about a year of non payment. it was one of my better settlements. with thier late fees and sort balance was around 6,000 and they settled for a little over 1,000 i cant remember exactly, but it was one of my better settlements so just hang in there they will do better!

Love my things,

My discover account was sent to a lawyer who sued me with in 8 months of non-payment. I go to court for a final status next week. The law firm says I can make monthly payments but have to continue to pay interest. Is this correct? Do I have to pay the lawyers interest on this debt? They do not want to settle for no less than 6,000 from 8,000.

I settled with Discover at 25%....Took a while though....

I'm still trying to negotiate with the lawyers for the past 3 months but they will not accept any less.

My sister had settled with them for 50% before in 1 lump sum of a payment.

im really unsure of it being with an attorney if its harder or not, my discover i believe was just in a collection agency. (im not sure scince i had a company handle my accounts) But i did get sued by citibank and i know the company i used said they would still negotiate that account if i wished (i was uncollectable scince i had no job at the time, but they put a lien on my home) so im guessing they can still negotiate the amount even after judgement. I chose not too scince it was my last account and i wanted it over, but i am under the impression it can still be settled even after judgement if they are willing to bend. I could be wrong, but after judgement i do not believe that they can still add more fees but i may be wrong please dont hold me to that, maybe someone else can better answer that part of your question.

I have a Discover account that has been sent to collections. Is it better to settle with CA or with Discover? This account is now 10 months past due.

i would be very suprised if it was still with discover chances are its in collection. deal with them, most people have more luck with the ca's than the actual creditor. Now is the time to act though you have had a good bit of time of non payment they should be willing to work with you right now. Start putting out offers to them. I hope you have been saving because they are probably gonna want a lump sum payment. start very low and they will counter offer and keep it up till you both can agree on something

I'm about 60 days past due with Discover right now and am on a 7-day call cycle. But I'm only returning calls or answering about every 10 days. With all the other calls, I'm talking to about one creditor a day, which is about all I can handle.

I will say this about Discover so far, they have been a pain. I always have to talk to two collectors every time they call. And they're kind of sneaky/underhanded about it to, as they don't explain what they're doing when they transfer me... just all of a sudden I'm talking to a new representative... and I have to go over my story for a second time that phone call. It's just a pain.

And they never tell you that you are being recorded, but they have that annoying beeping sound in the background which is a sure-fire way of letting you know you are getting taped.

love my things,

Do I still need to send the CA a DV letter if I know I do owe the debt? Or should i just send them a settlement offer?

it wouldnt hurt, just to be sure that it is the same debt. you never know of shady ca's out there trying to collect debts that dont belong to some. it will also buy you some time if you need more time.

For the past 30 days I've received a 40% offer from Discover on approx. $5000 of debt. This account is appx. 180 days past due and is due to charge off July 31st-in a few days. I've had a difficult time negotiating anything lower---trying to settle at max. of 20%. I know the amount plays a role with regards to how aggressive---the only answer I could get when asking them why they would not accept is that "the numbers fall on a matrix"-someone's putiing a number into the PC and the computer is telling them yes or no---info from a supposed supervisor.

Please provide any advice or insight here!
Would it be better to wait and negotiate after chargeoff--not concerned with credit.
It makes no sense in my mind for Discover to pursue esp. since I'm in TX and there's no garnishment opportunities here even after judgement. Only lien opportunity exists--and they're secondary to any lenders/note holders.

As well, some creditors have a pre-charge off policies which moves the account elsewhere for another 30 days before actual chargeoff---is this the case with Discover?

Soap Lady is ALWAYS so helpful...hopefully she'll see this post and respond.

Abg--have any updates to share? I can't even get a 60% offer from Discover...I'd take 40% if they offered it to me. Did you have to talk to them or did they eventually just send you a settlement offer in the mail?

Quote: