my settlement voyage so far......
Date: Fri, 09/24/2010 - 17:58
I am working with Credit Solutions, good coach who is always available to talk, he advised me to do nothing but let me accounts go delinquent, don't answer calls or call any of my creditors and thus far I have followed his advice, stopped paying on cards in February/March of this year
5 cards, about $49K spread between
Chase - $7,500 balance, at 120 days I was offered a settlement of $4,500, at 150 days I was offered $4,00, at 180 days I was offered $3,500, called them at the advice from my coach and offered $3,000..they took it !
Chase - $24,000 balance, will be at 180 days in mid October, no word from them other than a letter at 120 days saying that I was behind, I still receive monthly bills as well, they may be calling but no messages
Citi - $2,500 balance, offered settlement of $800 at 180 days via mail, I took it!
Discover - $6,000 & $9,500 balances, bunch of phone calls, returned a message and all they want to do is get me to pay my account back up to date, they have offered 60% settlement through emailing me with a special offer that can be viewed on their web site, gonna wait them out a little more
Now, I've had little to no contact with any of my creditors but seem to be doing OK by almost having 2 behind me, I would like to push my 3 left out a few more months cause at the turn of the year I get a bonus, anybody think that is feisible?
5 cards, about $49K spread between
Chase - $7,500 balance, at 120 days I was offered a settlement of $4,500, at 150 days I was offered $4,00, at 180 days I was offered $3,500, called them at the advice from my coach and offered $3,000..they took it !
Chase - $24,000 balance, will be at 180 days in mid October, no word from them other than a letter at 120 days saying that I was behind, I still receive monthly bills as well, they may be calling but no messages
Citi - $2,500 balance, offered settlement of $800 at 180 days via mail, I took it!
Discover - $6,000 & $9,500 balances, bunch of phone calls, returned a message and all they want to do is get me to pay my account back up to date, they have offered 60% settlement through emailing me with a special offer that can be viewed on their web site, gonna wait them out a little more
Now, I've had little to no contact with any of my creditors but seem to be doing OK by almost having 2 behind me, I would like to push my 3 left out a few more months cause at the turn of the year I get a bonus, anybody think that is feisible?
Most creditors will not wait more than 180 days of delinquency.
Most creditors will not wait more than 180 days of delinquency. After that time period, they will either sell your debt or assign a CA to collect the debt.
