Settlement vs Payment Plan
If I propose a settlement and tell them I can pay a lump sum settlement payment, will they start to doubt my story of not being able to afford a payment plan and subsequently not agree to settle? Has anyone experienced this?
Jay
When I started my settlement journey, I told my creditors I had
When I started my settlement journey, I told my creditors I had a lump sum of money to work with to settle all of my debts and would only be able to settle with those where a mutually acceptable agreement could be reached. I wouldn't be too concerned about it. It's really none of their business where the money came from. For all they know, you borrowed it from a relative.
I simply told them that my mother would help me settle them but
I simply told them that my mother would help me settle them but would not provide ongoing monthly payments.
Well, my concerns became a reality. When I told AMEX that I had
Well, my concerns became a reality. When I told AMEX that I had money to settle with, they "decided" themselves that I thus had money to pay my overdue amount to get my account current. I explained that my financial situation is permanent and if I use this money to continue to pay monthly payments, I'll be back in the same situation in a short period of time where I can't afford the monthly payments anymore. Except then I won't have anything to try to settle the account with.
Even though they knew I was right, they didn't care and pushed real hard to get a payment out of me. They told me that I can afford the monthly payments but am choosing not to pay.
I held strong, though, and didn't buy into their coercion. From other posts I understand that I won't get anywhere with AMEX and will have to eventually settle with the CA. So thanks to the folks on this site for helping me stay postive and hopeful through this process.
Jay
Way to go "[URL="http://www.debtconsolidationcare.com/forums/mem
Way to go "[URL="http://www.debtconsolidationcare.com/forums/member.php?u=231459"]Jay Seeder[/URL]"
Stick to your guns and hold your ground.
You've got the right mental toughness to get through this.
Those goons at american depression will try to squeeze, cajole and shame you along with any other tricks from their book of bs.
Carry on.
And keep us posted.
Regards,
King "Kash"Jabba Labba
Keep saving
No, I haven't. But i suggest you stick to your story and eventually it will work.
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