Bank Of America CC
Date: Fri, 02/24/2012 - 14:36
I have a credit card with Bank of America that I currently owe $680 on. It's 90-120 days past due. They emailed me on the 15th and offered to settle the account for $517. That's about 75% of the owed balance.
It says the offer "may expire" if I don't act by 2/29. They also offered this to me the month before (I think it might have been a little hire amount to settle.)
My question is, how long do I wait for them to go lower? Or, do I call them and try to offer a settlement now, before the 29th?
Thanks to the payday forum on this site, I've been able to eliminate that payday debt from my budget for the first time in months, so I can actually pay a little bit on this now. But the most I can really afford at one time is about $150 (if that) and I'm willing to go onto a payment plan if I need to.
Thanks!
z
It says the offer "may expire" if I don't act by 2/29. They also offered this to me the month before (I think it might have been a little hire amount to settle.)
My question is, how long do I wait for them to go lower? Or, do I call them and try to offer a settlement now, before the 29th?
Thanks to the payday forum on this site, I've been able to eliminate that payday debt from my budget for the first time in months, so I can actually pay a little bit on this now. But the most I can really afford at one time is about $150 (if that) and I'm willing to go onto a payment plan if I need to.
Thanks!
z
Contact them before 29th of this month. Make a counter settlemen
Contact them before 29th of this month. Make a counter settlement offer to them. If they accept your settlement offer, then it will be very good. Otherwise, you'll have to pay $517.
Bank of America
I've been dealing with Bank of America accounts for many years and know the best offer would take place once it is 180 late and in their recovery dept. At that time they would accept roughly 40% of the balance. For more info, please check us out at USDR for more information regarding debt settlement.