Settlment by A Friend
Date: Tue, 04/06/2010 - 09:28
Hi, thanks for this forum. I have high debt but have most always paid my bills (mostly minimums) on time. A friend of mine has generously offered to pay for settling my debts, say for 50% or less. Can I as a historically on-time payer just call up the cc company and say "I can settle this right now for 50%, will you take it?" Thanks all very much for your perspective and care.
In order to settle you will have to be behind on your payments.
In order to settle you will have to be behind on your payments. So you will have to stop payments and then usually between 120 days and 180 days (charge off) they will begin talking settlement.
