Credit Card verbal agreement to settle my entire debt for X$

Get it in writing. Period!

They want the money, the do it in writing. No ifs, and's or buts. Refuse. Period.

Credit Card Company agreed to accept a specific amount if she would pay the specific amount by a certain date. How can we document this agreement as example on the back of the check. or some other way??

Get it faxed. Do not do anything until it is in your hand. Fax it to a Fed Ex place or somewhere.

I agree with what everyone else has said if it's not in writing it's not valid is basically how it will end up. You will pay X amount and with nothing in writing they can come back at anytime and say they did not agree to whatever you say they did agree to. So be sure you get the agreement in writing and then send them the payment. Also when you're making payments to any creditor I would always advise against giving them your checking account information period, I would always use a money order or some other means of payment.


Johnita

I have to say that this is how Bank of America works on the Gold Option Loans. They WILL NOT fax or send anything, until you make one payment. They did this on both mine and my husband's accounts. As soon as I allowed them to set up the settlement payments over the phone, they faxed a copy of what we had agreed to. It terrified me, but it was obvious they were not going to budge. I'm glad I went for it, because they followed up and now I am on my way to settling these accounts.

I have to say that this is how Bank of America works on the Gold Option Loans. They WILL NOT fax or send anything, until you make one payment. They did this on both mine and my husband's accounts. As soon as I allowed them to set up the settlement payments over the phone, they faxed a copy of what we had agreed to. It terrified me, but it was obvious they were not going to budge. I'm glad I went for it, because they followed up and now I am on my way to settling these accounts.

Sorry but I also agree. If it ain't in writing it ain't a deal. I have seen people who have tried to settle debts on their own who fell for that one. It amazing how after you send them a payment thay have no record of a settlement offer when you call back or claim that you misunderstood the terms of the agreement. Insist they send you a settlement by mail or fax or no deal.

Always get a signed agreement by an authorized agent before paying. Never give them electronic access to your checking account. I would have never settled with Bank of America in the above example until they agreed to send me a signed agreement. I would have never given them electronic access either.

Agree with everybody else on here. If they won't do that and they are on the phone with you Record the Call. Make sure that you save so you do have some sort of back up.

let me weigh in with everyone else.nothing in writing.no address to send payment.no payment.

What happens if I made an agreement to make a certain amount payment monthly to satisfy a debt, but now find myself in a difficutl situation and want to send less?

You need to call the creditor ASAP and notify them you are financially overextended. Maybe they will restructure your agreement.