120 Days with BofA
Date: Thu, 06/10/2010 - 16:44
I'm assuming this will come down, but who knows? At first he said that's the lowest they could go--when I asked about negotiating, he said that was the best it is. Later in the phone call, he did say that that number is good for this month, and that next month it could go down (or up!).
I've learned on this board to wait until at least 150 days before getting to serious about settlement, so I'll hold on for now. But I'm wondering how much that may come down in the next 30-45 days....that still seems awfully high to start, given the settlements I've seen on here in the past. When I negotiate, can I really think that they'd come down from 35% to 30% (or 25% even)?
(Of course, it's still better than 100%.)
Greetings Glurg! I settled with boa, the snake at about 120 da
Greetings Glurg!
I settled with boa, the snake at about 120 days for 30%.
They did a 93 day payoff.
They must have pulled that out of their sunshine hole.
Made the last payment today and I'm free.
For what it's worth, try to settle before it goes to collections.
The snakeheads are just ......well snakeheads you know!
Don't give up, just press on.
Let us know what happens.
Ciao,
King " Kash" Jabba Labba
Bank of America is known to settle even for 20% of the debt amou
Bank of America is known to settle even for 20% of the debt amount but I guess it varies between the customers. You may wish to push it a little harder but as King has mentioned try to settle before it goes to the collection. BofA is known to be an easy creditor to deal with.
B of A is a very easy creditor to deal with as longest your at t
B of A is a very easy creditor to deal with as longest your at the right department. Anyone in collection should skip the b of a collection rep and go straight for the goal ( Senior Account Manager at FIA Card Service ) . FIA Car Service is branch of B of A that deals with sever delinquent accounts.
If you received an offer of 20%, than settle it. The lowest B of A will go is 15% (rare) based on how much your in debt with them.
I advise any debtors to negotiate prior to account being a charged off.
Good luck.
Ben
Quote:Originally Posted by SCBank of America is known to settle
Quote:
Originally Posted by SC Bank of America is known to settle even for 20% of the debt amount but I guess it varies between the customers. You may wish to push it a little harder but as King has mentioned try to settle before it goes to the collection. BofA is known to be an easy creditor to deal with. |
I think the fact that I'm still employed is keeping the settlement percentage relatively high. I'm just not sure how much they'd come down in the negotiations. If they drop from 35% to 25%, I'll be surprised (but pleasantly so).
I have to figure out where I'm going to start the counter offer. We don't have much money saved and would have to rely on family members. Ugh.
Bank of America has been our hardest to negotiate. Settled with
Bank of America has been our hardest to negotiate. Settled with Chase at 90 days for 30%. Have one BOA for 20,000 lowest they have come has been 9000 lump sum. Other account with BOA is 9000 they won't even talk settlement. Wanting to put us on payments for 5 years with that one. I can do 30% on the 20000 and am willing to do payments on the other. Hubby is calling back tonight we'll see I guess.
Just settled with Chase at 65 days. Im at 90 with BofA and they
Just settled with Chase at 65 days. Im at 90 with BofA and they are telling me there isnt a settlement offered currently. Hope the get something soon!
lawfamily- what was your balance with chase? did you bring up th
lawfamily- what was your balance with chase? did you bring up the settlement or did they?
Just settled with BOA after 180 days. They were easy to deal wit
Just settled with BOA after 180 days. They were easy to deal with after about 60 days of intense collection activities. They settled $ 23,000 for $ 6,900 over 4 payments.
We are 177 days late with FIA Card Services. They offered us 30
We are 177 days late with FIA Card Services. They offered us 30% a couple weeks ago. They said on the 18th we will be 180 days late and at the end of the month they may send it to internal collections. If they do that, does anyone know if our chances are better or worse to get a better settlement? I know 30% is good but we just don't have it, if we can get 20-25 % I would make it work. Anyone know if we have a chance at that at all?
Quote:Originally Posted by Jill AdamsWe are 177 days late with F
Quote:
Originally Posted by Jill Adams We are 177 days late with FIA Card Services. They offered us 30% a couple weeks ago. They said on the 18th we will be 180 days late and at the end of the month they may send it to internal collections. If they do that, does anyone know if our chances are better or worse to get a better settlement? I know 30% is good but we just don't have it, if we can get 20-25 % I would make it work. Anyone know if we have a chance at that at all? |
I think when it goes to collections, it becomes a wild card. The board has more info--basically, I think your mileage may vary at that point. Both the risks (legal action) and the rewards (lower settlement) of charging off are greater when it goes to collections.
Please keep us posted about what happens. I would be extremely interested in finding out if they were able to come down from 30%. Good luck!
Quote:Originally Posted by AnonymousI think when it goes to coll
Quote:
Originally Posted by Anonymous I think when it goes to collections, it becomes a wild card. The board has more info--basically, I think your mileage may vary at that point. Both the risks (legal action) and the rewards (lower settlement) of charging off are greater when it goes to collections. Please keep us posted about what happens. I would be extremely interested in finding out if they were able to come down from 30%. Good luck! |
Jill, did you try the Senior accounts number....??? that is posted on some of the threads here....they settled my husband's and mine for about 25-27% depending on the amount owed.....after 120 days.....try the Senior Accounts at FIAA.....we had their card too and they settled for about 25%.....
I would worry about letting it go to collections...try that number.....!! Bensworld listed it on a thread and so did I ....debtor in CA
good luck to you
Today they also offered me 25-27% in 4 monthly payments. 25% ba
Today they also offered me 25-27% in 4 monthly payments. 25% based on the current amount owed 27% based on the balance due when we last made a payment in Dec 2009.
I was a nervous wreck on the phone, but I'll call back tomorrow and go into a local branch to pay cash. I hope it goes smoothly.
It would be nice if they were all this easy, but I'm happy to have 2 accounts down, 5 more to go.
K2inTX how late are you? Did you call the number that was poste
K2inTX
how late are you? Did you call the number that was posted?
Thanks!
Chase
Quote:
Originally Posted by cookycris lawfamily- what was your balance with chase? did you bring up the settlement or did they? |
I brought up settlement. I called 866-339-8391. Settled at 30%. About a 10 minute call. They started at 50 % and quickly went to 30%. Senior account rep at BofA told me settlement would be available with them at 120 days.