HSBC SETTLEMENT - WHAT CAN I EXPECT

Date: Fri, 03/27/2009 - 08:58

Submitted by anonymous
on Fri, 03/27/2009 - 08:58

Posts: 202330 Credits: [Donate]

Total Replies: 1

I am 90 days late what an I expect on a balance of $21,000 - they are being very difficult.

chaka

Hi Chaka, You can realistically hope for anywhere between a 4

Hi Chaka,

You can realistically hope for anywhere between a 40-60% settlement. What exactly it will be is determined by specific issues unique to your account, so there is really no way to accurately speculate what they will eventually accept except to randomly toss numbers into the air.

Technically, they can just deny you a settlement at all and take you to court, or charge off your account and have an aggressive 3rd party debt collector take over the account.

Settlement is a gamble; a gamble many people win, but a gamble nonetheless.

I hope it works out well for you.

lrhall41

Submitted by Chrys Henderson on Fri, 03/27/2009 - 20:26

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