My Settlement Story so far...
Date: Fri, 12/18/2009 - 11:10
I've posted a couple times on here but just wanted to see if anyone had any further words of wisdom about my situation and also give everyone an update on my success with debt settlement so far:
I started out with a little over $18000 in CC debt, all personal accounts, with 8 different CCs, 6 different CC companies. I started working on settling my own debts in mid-November- I've since settled all 3 of my Chase accounts (3rd card was settled as of last night). % were pretty good at 25%, 38% and 27% all with Chase and still with OC. Now I am going to need to work on my other creditors and I'm coming close to charge off for all 5 (BofA, Citi, WF, HSBC and Capital One).
I've heard Capital One is quick to sue and I've been in constant communication with them about my desire to settle my account with them, but I had to wait until 120 days late before they'd even consider settlement (which is right where my account is at right now- about 120 days late).
The other CCs (WF, Citi, HSBC and BofA) have not been contacting me by phone at all (they just communicate via letters, and even those communications are scarce)- should I be concerned about that? Also wondering what everyone else's experience has been like with those 5 creditors (Cap1, WF, Citi, HSBC and BofA)- any tips on dealing with them? Like I said, I was able to settle 3 accounts but right about now all of them will probably charge off in the next month or so, so I'm getting worried! :confused:
Hi there, do a search on B of A links in this forum I think yo
Hi there, do a search on B of A links in this forum I think you will find good vibes with b of a, I settled 40K at 25% at 120 days .I finally got a super helpful manager.
Neveragain09. I also have Capitol One now 123 days late. They
Neveragain09. I also have Capitol One now 123 days late. They have made no settlement offers. Maybe I need to call and make offer? Just asking for $105 to string out longer.
Please keep us updated on your progress.
Thanks
OZZIE69- I called Cap1 yesterday, they said I'm 114 days late an
OZZIE69- I called Cap1 yesterday, they said I'm 114 days late and are still not offering any settlement offer. They too are offering me their "re-age" program where I pay roughly $100 for 3 months and then my old terms and APR would take affect and they wouldn't close my account. I'm going to wait until I pass the 120 day mark and see if the settlement issue changes, if they don't budge, I think I'll take the re-age program since I'm hearing from quite a few people that Cap1 appears quick to sue, even on smaller balances (mine is just over $3000).
Unregistered guest just posted that they go 50% offer from Capit
Unregistered guest just posted that they go 50% offer from Capital One at 153 day mark. Just have to wait it out. As far as suing, I heard the Lawyer would get 50% so why not settle with us for 50%?