What can I do

Date: Sat, 02/26/2011 - 08:14

Submitted by jayhawker_77
on Sat, 02/26/2011 - 08:14

Posts: 4 Credits: [Donate]

Total Replies: 2

First off I want to say I am new here and wish I would of found this place a year ago. I lost my job in March of 2009. Had gotten divorced about 6 months before that and took most of the debt as the divorce was my idea. So when I got laid off I had some very high debt with very little income. I'm now self employed and making it but could do better. I pretty much "ran" the first six months and then in Aug/Sept last year started calling people back and worked out a lot of payment arrangements as I don't have cash to settle. My question is I may have some lump sum cash soon but a majority of my stuff is with CA's now. Will they settle with some of the same percentages I've seen here (Chase, Citi, HSBC original creditors) or what. Any suggestions would be much appreciated.

From what I have researched, and from what others have said, it

From what I have researched, and from what others have said, it varies. Some cards have better settlements while they have the debt, while others have better settlements with a CA. Might as well call them and start low. 20-40% seems the norm. Maybe somebody will chime in that has direct knowledge about a CA for an individual card you mentioned.

lrhall41

Submitted by on Sat, 02/26/2011 - 17:25

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Here is a list of what I am working on. Anyones insight would be

Here is a list of what I am working on. Anyones insight would be much appreciated. I also hope this helps those of you that don't have settlement money to see what companies agreed to for me.

Discover- $7210- 90 days late will be March 6th, trying to get in a program with them.
Citi-$2931- paying 55 per month at 0%.
Citi- $2387- paying 54 per month at 10%
Cap One card- Now Credit First CA- $4915-paying $50 at 0%
Chase- $3361- paying $80 per month at 6%
HSBC- Now Financial Recovery Services CA- $2821 paying $55 per month at 0%
Juniper/barclays- $4213- paying $50 per month at 5.9%
American General- $2558- paying $50 per month at 0%
Cap One Personal Loan now through Law Office of Joe Puzzeto CA- $11821- paying $100 per month toward principal only but still accruing interest
BOA-$20599- in dispuste, just got sold to a CA- National Enterprise Systems
Hibon Tires-now with Credit First CA- $487, paying $100 per month at 0%
Also have a 13k Prosper loan I stopped paying in March of 2010 that no action has been taken on. Called to set up a payment plan and they refused. Would only take settlement of $4800.

BTW, yes I know this is a ton of unsecured debt but I had the income to pay all this off quickly at one point. Now working hard to get it gone.

Thanks for the input.

lrhall41

Submitted by jayhawker_77 on Sat, 02/26/2011 - 20:38

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