Account Not Eligible for Settlement
I asked the woman to clarify what she meant, and she told me that they review accounts at the end of every month, and that's when they decide whether certain accounts are eligible for a settlement. So it sounded like my account could become settlement eligible. Am I correct to assume that? Does this sound like the normal process?
Jay
BofA settles all the time. Call back and talk to someone else.
BofA settles all the time. Call back and talk to someone else. Or what a few days.
They are just trying to push as far as possible to get you back
They are just trying to push as far as possible to get you back on payments. If your hardship is considered long term or short term. Once they consider it long term and bankruptable then they will talk settlement. Just hang in there.
At 95 days delinquency, you have just reached the settlement per
At 95 days delinquency, you have just reached the settlement period. Let your account be delinquent for a few more days. BOA will offer you settlements themselves. Just hang in there and whenever they call, give them the same story that you cannot pay the full amount but is looking to settle it.
Ok. Thanks for the insight. I'll wait a little bit and then try
Ok. Thanks for the insight. I'll wait a little bit and then try again with them.
Jay
Greetings, Patience is a virture....give boa-the snake at leas
Greetings,
Patience is a virture....give boa-the snake at least 120 days to start the settlement dialogue.
Good luck,
King "Kash" Jabba Labba
My own experience with BOA - just before the 120 day mark (when
My own experience with BOA - just before the 120 day mark (when they legally obliged to charge off the acct) they will talk settlement. They will either offer you a reduced payment plan at very low interest for x amt of months or a lump sum payment. What they offered me was actually very good, but I wasn't in a position to take advantage of it unfortunately. They did charge it off and farmed it off to 2 collection agencies before finally selling the acct. I'm now being sued by the purchaser.