GE Money Bank
Date: Wed, 09/09/2009 - 20:37
I just recently decided to start settling my own debts (as opposed to hiring a company). Ironically GE Money Bank sent me an e-mail today offering to settle my debt of $7058 for $3176, 45%! I am thrilled, but I am wondering if they are proposing the settlement with no contact from me, should I try to negotiate a lower amount? Stretch payments over a few months? Any other suggestions? I have a mountain of debt (about $100K) and I need to start somehwere!!!
That is really great news! I needed to read something positive
That is really great news! I needed to read something positive like this. I don't have quite that amount of debt, but close and are still in the beginning stages of settling ourselves. The calls are getting unbearable for me, to the point we were considering BK - which we do qualify for Chapter 7.
I would call them and thank them for their offer, and then give them a counter offer. All they can say is no. If they say no, I think it's a pretty good offer and a good place to start for the rest.
