5/3 Credit Card Help

Date: Mon, 11/16/2009 - 09:19

Submitted by anonymous
on Mon, 11/16/2009 - 09:19

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Total Replies: 1

This is the first time that I have ever needed help or advise on CC issues. I have a 5/3 CC with a balance of $8300 at 11%. i cannot afford to pay it monthly right now... i might be getting a lump sum in the near future of arounf $2000. Is there a way i can settle the dept for the $2000?

Please help!

thanks for the time, matt

Have you tried negotiating the interest rate? It would be great

Have you tried negotiating the interest rate? It would be great if you can lower the interest rate without defaulting on the loan which would be necessary to raise a settlement proposal. Check if they have a hardship program too.

Further, it is hard to comment whether they would settle at $2000. The settlement amount may depend on many factors, like- the lender, age of the account and your negotiation skills. But IMO you must first try to work out a deal with Fifth Third by making them aware of your situation.

lrhall41

Submitted by SC on Mon, 11/16/2009 - 23:11

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