Settlement; do it yourself questions

I wouldn't`t tell them you are saving for a settlement.Some creditors like Discover and Bank of America are aggressive and they won`t want to hear that. Saying that to the wrong person depending on the creditor could get you sued. When they call you just tell them you are experiencing a hardship and that you DO want to pay them but just don`t have the money right now. Let them know you will contact them as soon as you get some money.

Creditors look at a lot of factors when considering suing someone. Just because you are a home owner doesn`t mean they will sue you. They look at if you have equity in your home , what state you live in , your hardship and budget , if you work or on ssi or disability. They would usually much rather settle than sue because it is more cost effective

I agree 100% with mobile. You are better off looking further at the information contained in these pages or simply looking for a dependable and reputable dmp that will only charge fees on performance, debt settlement is not something to take lightly and it requires time, patience and knowledge!

Some of the easiest companies to settle with before charge off are Chase, HSBC, Washington Mutual and probably the hardest is Citibank and any of its subsidiaries.