B O A question

I'm not an expert but I'd say 40% is really good. I'd take it. Do they want it all at once or payments?

It depends how long past due are you. Give us more details.

I called them tonight and they settled for $1500, I can't believe how easy it was. The guy was really nice , I was 7 months past due. They divided the payments up over 6 months but I'll pay it off way before then...1 down several to go!

What a great settlement. Good luck with the rest.

Good settlement! BofA is super easy to work with. Don't get used to it though, most other creditors are not nearly as friendly in my experience.

BOA just sent us arbitration claim paperwork. They have been trying to work with us. For about 50% which is great but we owe them 23,000 and that is the highest so it will take us awhile to save that amount. We've already settled with Chase, working on Citi next, then BOA. We are with a settlement co. I think that BOA calls alot trying to work a deal, we just don't have the funds yet.

If you trust the settlement company you are with (which you should, if you don't then reconsider your situation), always defer to their advice on whether or not to accept a settlement.

Sorry if you weren't asking a question mack73, I couldn't tell if you were just mentioning your settlement or seeking guidance so I figured I'd offer my word just in case.

Take care!

Can I ask you Fearnothing19931111 what will they report on the Consumer Report Agencies? Did they say on thier letter? I got a settlement letter as well 3 days ago from a diff CC and they wanted to report "Account paid in full for less than the full balance". Anyone know if thats acceptable? TY

It would still be a derogatory tradeline but might be the best you can get if you're not PIF'ing.

Just telling what we have going on with BOA right now. Our settlement co. is really good. Have already helped us settle one account, given us lots of great advice on the phone, helped with response letters to creditors who have brought legal action against us. Even tried to give us advice on trying to settle a seperate account on our own. No complaints with our settlement company.
I thought someone was asking about dealing with BOA.

Hey mack73,

You are probably the only one I have heard that is happy with their settlement co. I am looking for a reputable co. to deal with - may I ask who you went with?

Thanks!



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Just told that no BOA customers are going to be sued prior to charge-off even if outside collection company tries to collect.

We are using debt settlement USA. We signed up last December. We settled out first account in October. We control our money in our own account. When debt settlement and chase reached an agreement that i was ok with, then I paid them directly out of my funds. I have not found anything bad about them. Checked them out with the BBB. They had a pretty good review. Nothing but helpfull to us. Even when we have received court papers, they were able to tell me how to respond to try to drag it out untill i have the funds. I'm sure there are more out there. We were just lucky. I was a little leary of using a settlement company, but a friend of my husbands who works in the loan dept. of a band told us that was what he would suggest in our situation. Good luck

We are using debt settlement usa. We have been happy with them. Signed up last December. We control our own account. I have money deposited from every check, they take out there fee for the first 10 months and the remainder is in savings, then after that the full amount goes toward the debts. They have it set up where you should be at or close to the amount needed for settling the first account by then. We setteled with Chase in November. Once a settlement amount was agreed on, we paid Chase directly out of our account. So at all times we are in control of our money. If for some reason i thought there was a problem, i could close that account. What i did was set up a seperate savings account at my bank just for that money, have a set amount direct deposited into that account from every check. That way i don't see the money, it's just there. Works best for me that way.

debt settlement usa