Is it true that settlements will now have to be made within 3 months?
Date: Sun, 02/22/2009 - 18:15
A reliable source in the settlement industry told me the other day that as of February 1, 2009, any settlement deals made must be paid within a 3 month time frame. Does anyone know if there is any validity to this statement? I was really hoping to make some of my biggest settlements with a 6 month payment option (or longer).
Hello indebt2, Welcome to the Community! That sounds like
Hello indebt2,
Welcome to the Community!
That sounds like an internal policy of that particular firm.
Settlement are almost always lump sum. Very rare are they spread out over 3 months, even rarer over 6 months.
chrys
most creditors want there settled amount upfront in one lump pay
most creditors want there settled amount upfront in one lump payment. it is very rare that they will spread that out over a few months. They have waited for a long time for a agreement, they usually dont want to wait anylonger and sometimes take the deal off the table if you dont have available funds.
