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First Offer Sent to Us

Date: Sat, 10/16/2010 - 13:35
Submitted by debtinthedistance on Sat, 10/16/2010 - 13:35
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We are at the 90 day or close (within next 2 weeks) with all of our accounts. The waiting has been so nerve wracking. Anyway today in the mail we received an offer on each of my 2 Chase accounts saying they will settle for 70% of the balance. Our plan is to call them Monday and offer about 20% (a round # a bit higher than 20%) and see where that takes us. Balance on the 2 cards is $14,700.. I have my fingers crossed and feel good that we are starting these talks. Any advice or anything I'm not thinking of?

Thanks!

Debt in the distance!


Greetings "[URL="http://www.debtconsolidationcare.com/forums/member.php?u=231522"]debtinthedistance[/URL] "

The first settlement is always the most rewarding as you've really begun to slay the plastic "masters".

Chase-me down, was one of my easiest to settle with but I negoitiated about 33% overall (Had multiple accounts).

70% of the balance is still way too high.
Patience will get you there eventually.
90 days ain't quite ripe enough.....usually is 120-150 days.

You've got a good plan and stick with it.
Please keep us informed regarding your journey.

Regards,
King "Kash" Jabba Labba


Submitted by King Jabba Labba on Wed, 10/20/2010 - 15:01

King Jabba Labba

( Posts: 507 | Credits: )


Rrecently I have become extremely under-employed ,I have aprox 32 k in debt w/ multiple credit cards (bank of amer,ge money,citibank ,chase,etc) ..I am new to this forum but is it possible to negotiate balance reductions on my bills ? If so --do I need to wait to become 90 days late before they willl consider me or can i approach them now as i have been current for some time. Also on most of these balance i have negotiated the rates lower . will that preclude me from any further leniency? thank for your help


Submitted by ethan3477 on Wed, 10/27/2010 - 12:28

ethan3477

( Posts: 4 | Credits: )