Boa Settlement %

There's no law. They'll try to blame it on government regulators. Who knows.

I settled an 18,000 B of A card for 27% after 60 days past due. I paid one lump sum payment of $5,000

My settlement was for 20% on almost 30k (2 cards). I have to pay the settlement off within 90 days, though. I just made my first payment.

I don't think there's a law. I received my settlement offer letter and it doesn't mention any laws. It only states that if I miss a payment, the offer is void - and that I may owe taxes on the forgiven amount.

By the way, I was five months behind.

They only emphasized the 'within 90 days' with me. That did seem to be a written in stone policy for them. I even had to start the settlement a couple of weeks late so my payments would fit within that time period.

Also, I never 'negotiated' a settlement with them. I called to ask about lowered interest rates and waiving late and overlimit fees. I also mentioned I could no longer work with CCCS because the interest rate reductions weren't enough. The rep put me on hold and came back with the settlement offer. She didn't put it in percentages. She just named an amount and I said I'd have to think about it and crunch the numbers and I'd call her back. The offer was 20% of my outstanding amount. Keep in mind, however, that my outstanding amount was grossly inflated by fees, etc

Good luck!

Nobody else has gotten any settlements lately Cmon

Nobody else has gotten any settlements lately Cmon