Anyone with experiences settling with Target?

I have found the following threads that has many information regarding Target National Bank: -
civil citation letter from Target National Bank

Sued by Target

I am being sued by target national bank

Address of the Retailers (Target) National Bank

Trying to contact Target National Bank

Yes, thank you, I have already found these threads using the search box above. I have found plenty of information regarding lawsuits and summons from Target. What I want to know is, has anyone actually SETTLED with them and for what kind of terms.

I have heard that Target is an aggresive Creditor. I also have an account with them and am trying to negotiate with them right now and it is very close to charging off. They have offered me a settlement of around %60. The account was with a collection agency but was just returned to target and they offered me the same. I am trying to get it to %50 but, I may take the %60 since they are quick to sue.

All I will tell you about Target National Bank is.......Get everything in writing!!! I lost my job 2 years ago, contacted them as soon as I realized I could not afford to make minimum payments, they offered me a "hardship plan" which I accepted. I agreed to pay $60.00 a month for six months, which I did even though some months I was running the payment to the store the day it was due right before closing. I eventually found another job which pays half of what I previously made and still couldn't make required monthly payments but continued to make the agreed payment of $60.00 a month. I again contacted them to see if they would extend the payment arrangements, at that time I was told the balance was due in full including late fees, intrest charges and now the apr was 29.9%. My $2700.00 bill was over $5000.00 according to them. Now I'm being served by the courts. Just another day in Paradise. Just get it in writing

Just to update my own question, in case anyone is interested in the outcome - I was sued by Target over a 2500 account last December. I had tried to settle but had no luck. When I got the summons, I called the attorney shown, and told him I wanted to settle before the court date. What they offered me was around 75% as I recall, and with all the extra late fees and interested accumulated, turned out to be around the amount of the original 2500 balance. I think they do this on purpose - delay and piddle around so the fees mount up, so what they offer you is what you owed in the first place, and they think this makes them generous. . Anyway, was able to settle with them at that point; my settlement company forwarded them the funds so I could clear it up. These little accounts have been the worst to deal with. I am glad to be rid of this one.

SusieQ, I have a 7500 target visa balance and am about to enter an agreement with a debt settlement company that claims they work with Target. Another Deb Settlement Co said Target doesn't work with anyone, they won't take Target Visa. I"m curious , what company did you go with, and would you do debt settlement again knowing what you know now.
thanks
Lei

I'd say to go with a law firm, because according to the FDCPA, if you hire an attorney they need to cease communication with you and speak with your attorney.

Other than that, it's strictly voluntary on the creditor's part.

lei, I am with Superior Debt Services, and they absolutely were able to deal with Target. I had gotten the ball rolling myself, by contacting the attorney on the summons, and did some basic back-and-forth for a few calls, but Superior was able to hone the settlement and get it down a bit further, and be able to allow me to make the payment in several more installments than originally requested.

I am still in the debt settlement program. I had $90,000 worth of debt due to a business that closed, spread over nine accounts. I have been in the program for a little over a year and a half, and have settled seven of the nine so far. One of those I had to do on my own, because the creditor would not work with a settlement company, and that was Advanta.

I personally would do it all again. I cannot speak for other people; everyone's situation is different. If I had not has as much debt, or as many accounts to deal with, I probably would've tried to do it on my own. But this has worked for me and I have been happy with the results.

I appreciate your post. I called several debt settlement companies and now they are calling every day following up with me ,it's almost like getting in debt with another company, it made me a bit nervous. Good luck with your remaining accounts.

My, they're like buzzards circling raw meat, aren't they! Just keep in mind, many of them are scams. Be sure you do your research - check them on the BBB, and on this forum to see what people have to say. These companies are springing up right and left, mostly to take advantage of people. Once you decide on a good company, make a list of questions you want to ask. Once you have your answers, think of some more, and ask those too. BE SURE YOU KNOW HOW THE SETTLEMENT PROCESS WORKS. It is not a quick fix; it is generally a last resort before bankruptcy. It is stressful, especially in the beginning. Two things most people are not aware of, because they have not done their homework, are 1) you can still be sued, and 2) unless you are insolvent, you will have to pay taxes on the amount of forgiven debt. These things are true whether you are with a company, or settling on your own. You will probably not have to worry about #1 as much, if you go with a law firm as Chrys suggests. So learn the bad things too, so there aren't any surprises, and you will be better prepared. But once you stick with it, and the months pass, you are getting closer and closer to being debt-free instead of digging a bigger hole for yourself, and you start to feel better again. So good luck!

I just got off the phone with them. Woman told me they don't have to work with consumers. It's not her job, and she referred me to a debt settlement firm. I asked, politely, why wouldn't Target work directly with the consumer? Her response, too much work, not worth it! Goes to show you, the consumer is the target, when in financial trouble. Shop Walmart.

Target will NOT work with anyone. I am being sued right now by someone who claims the own the account. I tried for 2 years to work with Target. Personally I wish good luck to whoever is trying to sue me, cause I have NOTHING, no job, no home, no car, no bank account, nada. My husband works but I am not on anything we own or have. They jacked my rates two years ago from 6% to 21% so that my minimum(and that was with a perfect credit history at the time) payment went from $35 a month to $175. I went off on them but they refused to negotiate so I said screw you, good luck getting any money out of me, I have NOTHING.

Yup they suck. They sued me and I was only able to settle for 80% on a balance of $2374.

Agree, Target should not offer any credit cards to the customers. It's like a trap.
After being sued by Target during this financial hardship; I will not enter Target Stores anymore; will go to WallMart or KOHL.
People have bad times and good times, when it comes to hardship, I wish a giant Corporation like Target can reach out by helping its customers first; instead of being so arrogant using fancy law firms, summons the customers and hoping to get default judgement for garnishments. Why spending the money on the lawyers fees instead of forgiving some of the debts ?

Target is suing me, and I have no fund to afford lawyers, so I will do the research and present myself in court.
Any advise? I live in Los Angeles, CA.

Just Settled for 50% on a 3400 account!

How was you able to settle on you account? How many months were you behind?

Target will generally settle for 60%. Going with a sif co make work but often the because of the cease letter the balance accumulates. It's easier to deal with creditors yourself. Just be fair and generally they will work with you.

Just got served please explain the process to me..I also need a written statement...please help I'm in Los angeles...I have 30 days..from your experience tell me what to expect..thanks. May