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BOA Settlement offer

Date: Thu, 05/20/2010 - 17:15

Submitted by anonymous
on Thu, 05/20/2010 - 17:15

Posts: 202330 Credits: [Donate]

Total Replies: 10


Ok I am about 5 months behind on 4 cc total $35,500. BOA offered settlement of $10,700. which they will break up into 4 payments. They want to debit out of my bank directly. Has anyone else done this? I don't know about giving up my bank info. This was their 1st settlement offer to us, I did call back and offer $8,500 but they said no. Please advise if you have experience with this. They also told me that it would be charged off at the end of this month.
Thank you.


Quote:

Originally Posted by dantheman
30%...exactly what I got in March for a similar balance. They would not budge. I allowed them to debit my account with checks and it went smoothly.


Same deal here.

It went to 119 days.....settled 40k for about 13k.

boa the snake was my second easiest to settle.:cool:

Respectfully yours,
King "Kash" Jabba Labba


lrhall41

Submitted by King Jabba Labba on Thu, 05/20/2010 - 21:21

( Posts: 507 | Credits: )


Everyone talks about debt offers. I fell before Christmas in my home and had back surgery. After the surgery I still have back pain, but now I have nerve damage in my legs. I'm behind in my house note and charge accounts. If I could send them a large settlment, I would negotiate that. But, I'm living on a fixed disability income and I no longer have savings. I'm leaving day to day, what are my options without getting ripped off even futher. Now our job, is forcing out 30,000 employees, so I have to retire. I won't have money to live. Every bit of my money will go to my house and credit car debt. Lord, what would happen if my check doesn't arrive into my account monthly.


lrhall41

Submitted by on Fri, 05/21/2010 - 14:59

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Quote:

Originally Posted by blackbeasst
crazydebt, did you initiate the settlement talks or did they just up and say, hey we'll take 30%?



Blackbeasst, they sent a letter saying that the account was going to be charged off on May 12th and they would like to "help" us., with no details in the letter I called them on the 11th and asked what their "deal " was. They offered $10,700. They are telling me that it will be a CO at the end of May now. There are so many fees that they have tacked on during the past few months we have not paying and they are not willing to back them out. I dont know what to do.


lrhall41

Submitted by on Fri, 05/21/2010 - 16:47

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Once you agree on the settlement, BA will need your checking acct. #. They will set the 4 monthly dates when they will draw payments from your account. In my case, I had 2 separate accounts and they asked me for 4 specific check numbers for each account. I was informed of the amount that will be drawn. All this information will be on the settlement agreement which you will receive. With BA, I gave them my information even without a settlement letter in hand. It arrived in the mail in 7days.


lrhall41

Submitted by on Fri, 05/21/2010 - 18:13

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