Need advice on paying cards
Date: Thu, 03/06/2008 - 16:09
I am receiving letters in regards to 2 credit cards that were charged off within the last few months. A tragedy occurred in my family and I was not able to pay and completely ignored everything like an idiot. I owe about $1,600 total, not too bad. I have about $800 from my tax refund and am willing to pay this, how do I negotiate them down? I owe about $1,050 on one and $550 on another. This seems ridiculous since the total credit limit and both cards together was only $1,050. How do I go about offering them a lowered amount?
How long can I wait before they threaten to sue? I live in Louisiana. Like I said they were just charged off a less than 3 months ago.
Welcome Guest - There are many people are here that have sett
Welcome Guest -
There are many people are here that have settled credit cards by themselves and there is alot of great information you can find on how to do just that and even some good letters that you can use. Just type in the search box and you will get alot of info.
With $800, you might be able to get these two cards all paid off. As far as how long before they sue, that all depends on the company. Some wait forever and others only wait months. I would try to settle before it gets to the point where you are having to deal with the courts.
Good luck.
I figured with a good strategy, I might be able to get it all pa
I figured with a good strategy, I might be able to get it all paid. Both of these were HSBC cards, so I thought the larger amount covered both accounts, I just realized to my dismay there are two different amounts I owe. Should I offer something like $600 on the $1,000 account and $250 on the $500 amount? Maybe offering to pay those lump sums immediately would cause them to accept.
