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Now what do I do?

Date: Tue, 02/23/2010 - 07:39

Submitted by serenity118
on Tue, 02/23/2010 - 07:39

Posts: 15 Credits: [Donate]

Total Replies: 10


I have called Discover and offered 20% they of course said no. But they said it was because there are cash advances. Balance is 13k they would take little over 6K. That is about 47%, should I wait, will they offer anything better? Do the settle for less when you have cash advances? Also called NCO there offer was 50% and Portfolio 50%. I don't want to settle them at 50% if they are going to give me a 1099 I want to give them less then more right now. So should I call them again? Accounts are over 2 years old now.


Quote:

Originally Posted by serenity118
I have called Discover and offered 20% they of course said no. But they said it was because there are cash advances. Balance is 13k they would take little over 6K. That is about 47%, should I wait, will they offer anything better? Do the settle for less when you have cash advances? Also called NCO there offer was 50% and Portfolio 50%. I don't want to settle them at 50% if they are going to give me a 1099 I want to give them less then more right now. So should I call them again? Accounts are over 2 years old now.


im confused, is your discover account at nco or portfolio ? im not sure if discover sends out 1099s or not, i know b of a does and chase, not all creditors send out 1099 just some


lrhall41

Submitted by on Wed, 02/24/2010 - 01:23

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Quote:

Originally Posted by serenity118
Do I just keep calling? I called again today and Portfolio is now at 60% they have had this account for two years. So i am going to call bofa tomorrow. These accounts are so old that the Ca's are not calling any more I have to call them.



If the OC has sold the accounts to the collector then calling the bank wouldn't help you much. They would redirect you to the collector.

Anyway, what is the statute of limitation for such debts in your state?


lrhall41

Submitted by SC on Wed, 02/24/2010 - 22:19

( Posts: 3937 | Credits: )


Portfolio is a debt purchasing agency, they can do 40% lumpsum and 45% in payments, 50% if you want more payments than 24 months.

the discover debts that are at NCO i would really try hard to settle those as low as possible, i would shoot for 20% as your begining offer trying to get it close as possible to that, dont accept what you cant do!!!

if you still have a discover debt at discover, you might wan to write that one off, discover does not settle well, why i dont know ?

aka


lrhall41

Submitted by on Thu, 02/25/2010 - 01:36

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