Time paying on settlement?

Usually most settlements require the money in 90 days, I had one card Chase which allowed me 120 days but normally for them to offer the settlement they want the funds quickly. You can always try and request more time but 90 days sounds about right. If you can't pay it all in 90 days, they will consider you as defaulted on the settlement and those $ just goes to your balance. So only accept the settlement if you can make the payment. If you can't perhaps save up for another month or two and then work a settlement at which point they will give you the 90 days.

Question: Are they offering you to pay 35% of your debt OR are they deducting 35% of your debt and therefore you will pay 65% of what you owe? I am curious, because I intend to offer to settle a couple of my cc accounts when I get my tax return. Thanks

Depending on the age of your account,etc., they will offer anywhere between 30-60 % of your debt. I had a friend that got 60%, but it was an older debt,she kept after them and they finally realized this was all she could afford.

Before you do any settlement, get it in writing--they can have a lapse of memory-like one of mine did, if you talk on the phone.

I am with you, don't offer to settle unless you know you can do the offer.

Good Luck keep us posted..Karen :D

Usually at 180 days BOA will settle at 20% - maybe you need to wait longer?