Would love to accept this settlement. Any advice.

Quote:

Originally Posted by Anonymous Hello! Obviously being I am here we have debt. I recently received a letter from one of my credit cards willing to settle for $6,000 on a $21,000 debt. I would love to settle for that but unfortunately we do not have that much at this time. The letter said to pay that amount in 10 days. Like I said I would love to be able to settle this. Should I get a loan so that I can? What would you advise? Thanks.

which creditor is it? i ask this because i always assume if they are willing to send a letter with a settlement like that they always can go lower than what they are offering.

maybe again depending on who you owe they might be able to give you some payments

aka RIOT
read ToS

Quote:

Originally Posted by Anonymous Hello! Obviously being I am here we have debt. I recently received a letter from one of my credit cards willing to settle for $6,000 on a $21,000 debt. I would love to settle for that but unfortunately we do not have that much at this time. The letter said to pay that amount in 10 days. Like I said I would love to be able to settle this. Should I get a loan so that I can? What would you advise? Thanks.

Call 'em up and ask them if they could help you out with the details.

The details being:
1. the amount to pay.
2. the time to pay it in.

In other words can they go lower and stretch it out just a little bit more.
And from my experiances always be courtious.....even if they are ash-holes.

If you don't get the answer you like....ask for the supervisior.
Or just hang up and call back later.....tell them your phone crapped out.

Don't be afraid to negotiate, it's YOUR financial freedom.

I was in your shoes until last month.
There's great info in these forums.

Good luck and please keep us posted.