BofA - To Wait or Not To Wait

I had similar experience with them last month. I waited another 30 days and got 25%. In my mind the worst that can happen is you accumulate another month of interest and late fees.

Just be sure to calculate the value of 35%/current balance and 25% of the balance after another couple of months default interest, late fees and overlimit charges.... It may not be much different to pay a higher percentage of a lower amount than the opposite.

Follow up: I am nearing the 150 day mark. They are still holding to a 35% settlement. Is there any chance that they would actually increase the % in the final month? I am okay with paying an extra $60 if they hold steady at 35%, but it could be disastrous if they increase the %.

Anyone have an experience with BofA where they increased the settlement amount prior to charge-off?

Also, does BofA typically go for lower settlements right before the end of the month?

you really need to figure out if you are now in the 150 unit or is it next month, if you are now in the 150 unit that means next month will be 180.
sounds like you can take care of the 35% now but i will assume they can do better at 180, maybe 20-25% after of course they tack on some fees but you will still save more in the end.
your call

They dropped their offer to 30%. I am pushing to reduce it even further. If I get them to accept 25% of the current balance (28% of original balance), should I strike a deal? I still have the rest of this month before the account charges off so would I be better off waiting until the last possible day?

They also dropped mine from 35% to 30% today. I offered 20% and he told me my file is marked for a range and the low is 30%. I thought I was at 180 days but he told me they have another month and may drop it, especially if I give him the name of a bk attorney.

I also have a BOA card that turns 180 days tomorrow. They told me it will charge off in 30 days. They offered 35% and I want to settle this one but right now I'm working on settlements with other cards and won't have the funds for this one.

They also have me in a payment program at 100/month. Should I make a few of these $100 payments over the the next few months to prevent charge off? I'm thinking then I'll be able to negotiate settlement in a few months after I've saved up.

Quote:

Now, I am officially very confused. My account will be 180 days past due at the end of the month, but BofA is telling me that it won't charge off for another 2 months. No matter how hard I try, they maintain that they don't have authorization to go below 30% right now.

Does anyone have experience with BofA not charging off until 210 days past due? Do the managers have any ability to go slightly lower than the "authorized" amount? Should I wait another month and hope I get a lower percentage?

Any help is greatly appreciated.