BoA Settlement Details
Date: Fri, 05/15/2009 - 14:05
Eventually (two days later), I call the guy and ask what happened. He explains that he needs an additional amount of around $1000 on one (1) card to get it approved.
Is this just an attempt to increase the guy's commission or is this legit orders from the higher ups at BoA on the mimimum amount that will accepted?
settlement with BOA
when they call.....if you can offer a settlement....
offer 25-30% and tell them you'd pay right now with a check by phone and state that you must give them the check number you are using so you can verify the payment and balance your checking account.....never pay BOA with a BOA checking acct....
Make them put all the cards on the table
You can settle with BOA @30%
Quote:offer 25-30% and tell them you'd pay right now with a chec
Quote:
offer 25-30% and tell them you'd pay right now with a check by phone and state that you must give them the check number you are using so you can verify the payment and balance your checking account..... |
How does check by phone work exactly? I've never used that before. And presumably, this is after you get the settlement offer signed and in writing. I wouldn't pay anything until you have that.
Also, as opposed to faxing these, does anyone use email? I have a fax machine but no dedicated line. So I can't just ask people to send me faxes while I'm away at work, because I have to plug in the fax machine and unplug my answering machine to get it. So I was figuring that email might be a better method, but not sure if creditors (OC's) are using this method.
boa can't email settlement offers. Check by phones are EPS they
boa can't email settlement offers. Check by phones are EPS they create a copy of your check and send it to your bank. There's nothing wrong with paying boa with a boa checking account. The rep who said he needed $1000 more must be new or stupid. They don't get any more commision for higher settlement amounts. They get commision based on if you pay at least a minimum payment.
BOA email settlements
Guest....you are wrong about BOA and email settlements. They absolutely sent me a settlement letter by email as an attachment....totally legit....I don't know if it was because it was the last day before write-off or what....but they did.
Second....people that have a BOA checking account and a credit card account agree to allow BOA to withdraw said funds from Checking account in the event it is in default......this is what I meant....
BOA settlement
Hello all. I can tell you that I have used my local office supply store's fax number (Staples, Office Depot, etc.) numerous times for settlement letters and have never had a problem. There might be a privacy issue, if you are concerned about that, but personally I didn't care if anyone saw the fax or not. I hope to approach BOA for around 25% of the balance in the next month or so, so wish me luck! Best wishes.
imo, fax is best but not a huge deal I guess. Paying by phone i
imo, fax is best but not a huge deal I guess. Paying by phone is fine with original creditors as long as you have a settlement agreement in writing. Check by phone is better than ACH because an actual check is created and you can print it off online for your records. With an ACH payment the best you can do is printscreen your online account showing the transaction date and amount. Again, not a huge deal...check is just a little better.
I settled 4 accounts with BoA at 25% easily at 120 days late. I
I settled 4 accounts with BoA at 25% easily at 120 days late. I finished my final payments this month. The only thing bothers me is that I had to make payments within 90 days and they kept calling me when it's close to due date.
debtboa, may I ask what your hardship was that allowed you to ge
debtboa, may I ask what your hardship was that allowed you to get such a good settlement deal? Are you currently employed?