WaMu (previously Providian)

This can be settled if you go thru a debt settlement company. This is how I settled my WAMU card. I enrolled withSolicitation removed by Shazzers per TOS rules.

You can settle yourself. You don't have to pay anyone. Check out the DIY board here.

but dealing with the creditor on your own - you need to have huge chunks of money available to pay them in 2-3 shots. debt settlement can help you get monthly payments - and let them do all the dirty work. also, you're more likely to get a better settlement if your account is being negotiated along with multiple accounts for other customers. Atleast this is what I thought.

I just settled with my old Providian/WaMU card for 65% and making payments directly to them for 36 months. Didnt cost me a dime!!!

If you dont have all the $$, debt settlement isnt much help since you will just keep paying the debt settlement company until you do have enough saved up with them to settle. same thing.....do it yourself!

I agree with what you're saying... but I settled an account with debt settlement - and only paid 55% of the money - same time - 36 months. Guess what, they took all the calls. I didn't even speak to the bank. You tell me, what's better?

again, i'm not advocating the debt settlement programs. We all shouldn't have been in these shoes to start with. All i'm saying is - that I think that you should leave the work on the professionals. if you car breaks down - do you try and fix it yourself?

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Good one... my 55% was all inclusive the fees n everything.
Maybe the car break was a wrong example - how about n open heart surgery... Do we have any surgeons here now :)

ok...good for you!

My point is that I agree with the comment above about do it yourself....if you agree that a debt consolidation program worked better, then to each their own.

dicordude and gsingh111 are surrogate mopes for the SCAM companies he/she are pushing.

dw371,

WAMU is probably one of the easiest companies to deal with. Of course they will call you everyday, they have a right to do it. They will settle for 50% off when you are five months delinquent. The question is will you have the money to settle?

Even if you join a debt settlement company and do not come up with the cash to settle, then what? debt settlement companies are great if you are going to come up with the money to settle, and do not believe these 36 month jokes, all debt settlement counselors and owners will tell you this just to hook you in. They make their money in retainer fees and monthly maintenance fees, if you want to join a debt settlement program I suggest you join one that will only charge you a fee if they settle the account for a oercentage you agree to. otherwise joining a debt settlement program with no funds in the horizon is like flying a plane with out fuel. Good luck.

U can definitely deal direct with WAMU. My cousin was able to work out his own debt settlement with them earlier this year.

My wamu visa account was due to charge off end of June, I was not able to make payments for the six months preceding. Wamu kept calling me, and during the last week of June they offered to reduce my balance from $4,800 to $1,170 if I could pay it off in four payments of roughly $300 each. I took the deal! My advice is to wait until the end of six months of not making payments - that seems to be when they're anxious to close or settle an account, right before charge-off. I wish I could settle my other cards for 25% of the balance!

In debt in Florida - did WAMU call you or was it Chase? I am currently in the same situation on an old Providian/WAMU now Chase card. Funny thing is that when it was about 60 days past due, I got a letter from Bureau of Collection Recovery (collection agency apparently) attempting to get me to pay on my card. I promptly sent them a debt validation ltr and have not heard a peep from either them or Chase since (it has been been 45 days and this is after they had been calling quite often).
I have no idea what to think now.