logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

90 days late...

Date: Thu, 12/11/2008 - 08:34

Submitted by noelle
on Thu, 12/11/2008 - 08:34

Posts: 8 Credits: [Donate]

Total Replies: 8


Hello, I am currently about 90 days late on must of my ccs. I have not been answering the phone when the collectors call becuase I wanted to settlenadn they always want a payment. Should I be expecting a settlement letter from the cc. I have enought to settle with a few. I want to know what's the best way to negoatate the settlement. The most I gotten so far is for 1 late fee to be removed, that balance was small under $100. How do I settle with these guys. Do I just ansewr the phone and say " I have X amount of $ if you want to settle?" Should I start really low and then they counter bid? If someone could give me a "how to settle for dumbies" explanation that would be great. oh and should I start with the high balances or the low? I own about $30,000. and right now have $6200 saved. Do you think I'll be able to settle with all 10 ccs? What a good % to settle with what's realistic? Thanks so much for all your help. Noelle


The percentage at which you can settle depends upon the credit card companies you're dealing and also your settlement capabilities. Generally 50% settlement is a normal phenomenon. I have also seen 75% settlement. Search for a good debt settlement company and payoff them off.


lrhall41

Submitted by on Fri, 12/12/2008 - 00:35

( Posts: | Credits: )


I'd rather not incure the fees from a debt settlement company. Does anyone have any first hand experience diy. I don't no if I'll be able to put anymore away for savings right now. There's just not alot of income. I really don't want to be sued and have to go to court, thats way over my head. Should I just contact each one and ask if they will settle for X amount and if they say no just move on to the next?


lrhall41

Submitted by noelle on Fri, 12/12/2008 - 08:54

( Posts: 8 | Credits: )


well then this clown can go through the proper channels.instead of violating the TOS rules about soliciting and advertising.got it?anything posted by steve will be deleted.


lrhall41

Submitted by paulmergel on Fri, 12/12/2008 - 15:34

( Posts: 15514 | Credits: )


I just received a FedEx letter from GE Money last 2 days ago & they want to settle my $16k debt for $7500 after 3 months late. I have not answered any of the calls from any of my CCs. I'm contemplating is I should wait it out and see if the settle for a lower amount or I'm just being greedy. I was also thinking if I should settle with the bigger CC companies first like BOA.


lrhall41

Submitted by on Sun, 12/14/2008 - 10:25

( Posts: | Credits: )