discover settlement

Did you do a search of this forum? Right hand side...

Discover tries their best not to settle, so I'm wondering why you've decided to approach Discover prior to the other two. Being that I negotiate debt every day, I'd say you're definitely going about it the wrong way; I'd reconsider.

Best of luck to you!

Marie Megge
Donaldson Williams, Inc.

I have discover in a certain order due to when I stopped paying -- the other cards are not as late -- which is why they are "up" right now --
I would move to the next which is chase right now anyway--

soap lady -- I was just wondering if someone had recent info on their settlements -- sometimes when you search this forum it comes up with stuff from 2006 which is why I had asked for recent info -- just makes it easier --

btw maggie do you know chase policies regarding settlements right now
thank you for your help --
so far I have been able to negotiate citibank, toyota financial, first national bank, home depot and best buy -- all with the help of this forum!

discover is my 6th card -- it goes in order of when I stopped paying -- I am at 150 with them now --

chase is at 120 or so soon --- I will try them first since discover charges off late -- at 210 or so --

I have successfully settled with toyota financial, best buy, citibank, home depot and first national bk omaha through this forum -- I am eternally grateful for

by looking or asking for recent info instead of searching posts I would hope to get more recent info -- so if anyone has recent settlement percentages please post!!!
thank you :)

chrissyhen1

Settled Chase at 115 days since last payment at 33% of $6500 bal over 4 mo., my first one, thanks for everyones experiences and advice.

If I recall you also had a Cap One to settle, anything with them? Im about 120 days and they say no settlement is available.

If you dont mind me asking....Citibank, how late and how much? Im around 100 days and offered 30%, they countered with 50%. The csr was nice enough to say wait another month and make another offer, will do.


mariem

Since you do this every day... any insight with ARSI for amex, this is the one that makes me nervous, a bal in the 30's, they are the first ca im dealing with.

I settled citibank at around 120 days -- I think it was between 120 and 150 -- at 30 percent -- that was lowest they would go -- got 3 pays on it also --

I had to pay cap one minimum -- they would not settle at all -- but was my lowest balance so I agreed just so not to go legal --
I see on these forums cap one is a suer --

thanks for the chase info -- I have 3 of those -- but only one is ready in a few weeks -- they already sent me a letter offering 70 percent--

thanks so much for your help -- I'll be glad to help you in any way possible :):)

Hello,

While re-reading my previous post, I feel as if I might have appeared to be somewhat inpatient. I apologize if you felt the same way; I wasn't the least bit so.

Your Discover account isn't ready for settlement yet, so it's best to not waste your effort at this particular time. You can definitely do better than 33% with Chase, but again, it's about timing and speaking with the right person.

Again - best of luck to you!

Marie Megge
Donaldson Williams, Inc.

thanks marie -
amex just sold me to nco -- only late 2 months -- 13k and 5k--
I appreciate all your help -- you do know a lot and are current =

I will wait with discover and try chase --
will keep you up to date --

you ever deal with nco>

thank you again :)
again appreciate the help -- feel like im half way there --
:)

Hi Chrissy,

Yes, I've dealt with NCO plenty. But, since your Amex account is just 60 days delinquent, there's not a lot that NCO can do for you right now, based on Amex's guidelines.

By the time your account reaches the proper stage of delinquency for settlement there's a good chance that the account will be with another collection agency, and not with NCO at all.

If you can, please provide me the telephone number on the letter you received from NCO. After I have this information I can do some research to see where the account will likely go next, and what the outcome may be.

Thanks so much, Chrissy. Have a good day!

thanks maggie -- I appreciate your help -- I just pm'd you the phone number --

Ok -- so I called discover settlement today and offered 2k (31%) on a 6435 bal -- they countered with 50% -- 3200 ===

I only have the 2k so I have to wait -- has anyone been able to get 30 - 35 from them -- I heard that only happens after they charge off with the attorneys --

I have a major derog on my credit already (4 of them) from being late 120 days -- how much worse is a charge off? ==

I was told I could submit to a mgr but its a 1 time thing and I think I would wait till next month towards the end before charge off --
any help?
thanks
christine