B of A Settle at 15%

How late were you? They must have believed there was little chance of collecting anything because I have been told that they are tightening on the % they settle at. This is the lowest settlement I have ever heard of.

hoew long have you been working with them, did you ccorrespond with them in writing or on the phone?

great job

stopped paying in December. B of A actually knows I have two house and a business (failing business). I think I got lucky. I only started negotiating in May. May 31st was the charge off date.

Try calling that number and see what they can do for your account.

I have one credit that one department claims is a charge off other department refuses the card exist.

Who to believe ?

congrats ben.

Wow that is amazing! They would only go 30% for me on $35k...good job!

My friend was negotiating with them and they wouldn't go below 30%. I guess it probably depends on who you are negotiating with? Congratulations!

Same here....I was rejected on an offer of 28% that I told them was the only offer other than bankrupcy. Would love to see the settlement letter. I'd hang it on the wall!

Same here. I offered 28% and told them that was the last offer before bk. They rejected and told me 30% exactly was it. I would love to see this settlement letter. I'd hang it on my wall!

I too was surprise of 15% of entire debt. I thank lord for this day. But, I'm not out of the woods yet. Creditor discover will not settle anything less than 60%. I'm thinking no problem, 50% - 60 I will take it as longest it prevents lawyers getting involved. Personally, I would hate to see anyone go through court for debts. I also settle my citi bank ( jerks, send the account to lawyer at 90 days ) who settle it at 70%. I can't afford the risk of being sue.

From experience, some creditors tends to understand the situation and would rather have original debtor pay than charge off that gets sold to collection agency. While, some just do not care . Discover , Amex, and Citi are just one of many.

I defaulted on my B of A loan. Punks accelerated the note. I am having an attorney renegotiate terms. Anyone dealt with real estate default with collateral plus granter ?

Oh almost for got about my Landlord trying to sue me. I hope he does not.

So far I have Amex, B of A, Discover, B of A real estate, Landlord all trying to sue me.
Rather be in debt with friends than these scum bags.

Will never ever give em my hard earn money.

I got 30% today at 150 days out. I think to expect better than that is a little too optimistic.