BOA seems willing to work with me,But
Date: Mon, 08/09/2010 - 06:06
At 0% I have family theat would give me the extra money just to not ruin my credit
Are they just trying to see if I would bite and then saay you can make those payments or are they serious?
Did they send you that offer in writing? If so, take it. If it
Did they send you that offer in writing? If so, take it. If it was verbal, I'd call them up and ask them to send you the offer in writing so you can be sure you understand the terms. Once you have it in writing, they can't really back out of it or say you misunderstood, etc. Is this just a hardship program they're putting you on? Once the 60 months is up are you PIF or do you go back to the 8% interest and continue paying?
People at Bank of America are great at talking and when it comes
People at Bank of America are great at talking and when it comes to reality it is wrong info without a name to attach to it! If it is in writing it is a great deal! If not it is worthless! In agreement with Ohiogal!
They told me they would do 60 months 0%PIF and after 90 days of
They told me they would do 60 months 0%PIF and after 90 days of payments ,they would show that I am current, It works out to be the same payment amount +5 a month, he stated he will try and get approval for 72 months,but 60 is the normal limit.
He will call me back on Thrusday to see if I can work things out to make payments.
Of course I will get in writing before I send any money
Yeah, you can work on any thing to make your payments but nothin
Yeah, you can work on any thing to make your payments but nothing without the settlement agreement in writing. The proposal you've got from BOA is a good one but only when you've the written agreement.
If you can't afford it, you also might consider not paying it an
If you can't afford it, you also might consider not paying it anymore. After 150 days late, they usually will settle for 35 to 40% on the dollar, if you can pay lump sum.
Of course, this will wreck your credit and you will be hounded by their collections for 6 months, but if you can't pay, you can't pay
Greetings, boa-the snake will usually settle from 120 days on
Greetings,
boa-the snake will usually settle from 120 days on with a lot of folks settling at 150 or so.
They were very easy to work with....4 payments over 93 days.
Regards,
King "Kash" Jabba Labba
I got a letter today saying if I dont settle by end of month the
I got a letter today saying if I dont settle by end of month they will turn over to collections, The rep said he will call back to see if I can do the settlement which is $5 more then my original payment but it will be PIF in 60 months instead of 30 years.
I worked with all my monies and should be able to make those payments providing nothing major happens, all my other cards dropped my limits to current balance because BOA has reported me late? we shall see on Thursday is she was serious or pulling my leg
Whatever you do. GET IT IN WRITING! Can you come up with $12k
Whatever you do. GET IT IN WRITING!
Can you come up with $12k? If so, they probably would settle as a lump sum. You can then pay back the $12k to your family in 1.5 years for the same payment.
If I settle and pay back 12k, I have to pay taxes on 23k.. If I
If I settle and pay back 12k, I have to pay taxes on 23k.. If I pay 0% for 60 months I dont have to pay taxes, because I paid in Full
You won't have to pay taxes if you are insolvent. There is an I
You won't have to pay taxes if you are insolvent. There is an IRS loophole if your debts outweigh your assets. But you have to file a form with your tax return. You could do this yourself or hire a CPA for a few hundred dollars.
Even if you don't qualify for the insolvency, what's your top tax rate? 20%, 25%? You would only have to pay $4k, $5k max, which brings you to $17k max, which is alot less than $35k.