card settlement
Date: Fri, 05/28/2010 - 23:44
Quote:Originally Posted by riyai have an outstandin of 50000.wha
Quote:
Originally Posted by riya i have an outstandin of 50000.what is the minimum payment i have to make for card settlement?what amount should i write in my settlement letter? |
You may check out our DIY section for help.
Honestly, it is hard to give any definite figure. Average settlement amount may range between 15% and 60%. Also, it'd depend upon the creditor. Some creditors might not settle for less than the full amount.
if i know i can afford to pay 50% should i just offer that or tr
if i know i can afford to pay 50% should i just offer that or try for a lower ammount and let them counter offer.
I would definately start lower than what you actually want to se
I would definately start lower than what you actually want to settle for. So if you would take 50% then I would tell them you can settle for 30%. Through counters you will probably get to the 50%.
should i just come out and tell them i want to pay $X.XX amount
should i just come out and tell them i want to pay $X.XX amount to settle the acct?
I would start lower on the amount you have. they like to feel l
I would start lower on the amount you have. they like to feel like "they won" by getting you up a bit in the amount.
Quote:Originally Posted by riyai have an outstandin of 50000.wha
Quote:
Originally Posted by riya i have an outstandin of 50000.what is the minimum payment i have to make for card settlement?what amount should i write in my settlement letter? |
Greetings,
Is the 50k with one creditor?
How many days past due are you?
Good luck,
King "Kash" Jabba Labba
Yes if you are current and want to settle they won't do it. You
Yes if you are current and want to settle they won't do it. You need to probably be at least 90 days past due and explain your hardship as to why you can't pay the payments then they will start entertaining settlements. Every creditor is different so do a search of that creditor on the site and see how others have done it.
how do you do a "search of the creditor on the site"?
how do you do a "search of the creditor on the site"?
The search area is in the upper right hand corner of this page.
The search area is in the upper right hand corner of this page. Just type in the creditor in the box where it says google and hit search. You'll need to weed through a lot as it will pull up stuff that is several years old, but will start giving you some insight into how your creditors have handled stuff in the past.