Thank you in advance to all the kind people who frequent this board. You have provided so much good advice to others, I hope you can help me. Here is my question:
I am at 174 days with CAP One. I have been speaking with them on a biweekly basis now- and the best settlement deal they are offering me is the principal balance of what I owe them $7300 (from my total balance of $9100). With me being so close to charge off- do you think this is their best offer? Should I hold out for another week?
Will they be more willing to negotitate once it gets charged off? I have done so much damage to my credit at this point- is getting a charge off that much worse?
Thanks in advance...I hope someday to repay your kindness by sharing my own experiences with others on this board.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.