Just recieved first settlement letter. Need opinion?
Date: Mon, 12/15/2008 - 20:24
Also if I accept this offer, they will report "Account paid in full for less than the full balance" to the credit reporting agencies.
Debt is $17,000. I was wondering if I can negotiate a payment plan to spead out to 6 months. I have the money but I have 3 other CC I'd also like to settle. If I pay this first one off in one full payment I just won't have much left in case the other CCs decided to settle in the next few weeks or so.
Also is there a better terminology besides "Account paid in full for less than the ful balance" that I can request to be reported? Is "Paid as agreed" be considered better term?
TY
let me know............
I'm curious, as I am just starting this debt settlement thing. Did you wait for them to contact you, if so how long did you go without making a payment, and or did you contact them first? I'm not sure what is the best way to proceed. My reg. email is ltsc2003@yahoo if you want to email directly, thanks for any of your help!
I have not made any contact with any of my CC co's. I stopped pa
I have not made any contact with any of my CC co's. I stopped payment 3 months ago and not answered any phone calls. Then I received a FedEx certified signiture required letter and it was this settlement letter Im speaking about. I 'm still contemplating weather to accept it since I read a lot of stories here in the forum were they havent paid for 6 months to 2 years. So its been 2 weeks since that letter arrived and Yesterday I hound a FedEx delivery attemt note on my front door and its from the same creditor. Ill let you know what it is. Im hopping they are settling for less than 45% and I think I might take it if its down to 40%.