Pls help - Bank of America settlement

BANK AMERICA DO NOT GIVE ANY GOOD SETTLEMENT TO ANY CONSUMER.
MY HUSBAND BLIND AND MENTALLY ILL WITH SOCIAL SECURITY DISABILITY HAVE A CREDIT CARD FROM BANK AMERICA(CLOSED FOR 3 YEARS) AND THE FEES ARE SO HIGH THAT YOU CANNOT BELIEVE ANDREY.
IF YOU DO NOT OWN A HOME ,A NEW CAR AND YOU LOST YOUR JOB IS BETTER GO TO BANKRUPTCY.
GOOD LUCK ANDREY.
HAPPY HOLIDAYS.

I honestly don't see many 20% deals. The best deal I have received is around 50% and I think that is normal. They offered you a 62% deal which isn't terrible but that doesn't help if you can't afford it. I doubt they will settle at 20%. I personally wouldn't file bankruptcy unless they were on the verge of suing you or unless you have a bunch of other debt along with it. Otherwise what is the point.

I have settled my own debt with BofA and my Girlfriends and I got 11% of 50k settlement and she got 20% with 6 payments. You need to wait till the 180 day mark is rolling around. Call about 2 weeks ahead of time and tell them a sad story and that you dont have any money but you may be able to borrow some. Its about 50% what you say and 50% how you say it.

* Personal information deleted as per TOS - Jason

SobelSaint said it right. Debt needs more seasoning. 3 months is not nearly enough time. 4-6 month time frame should get you a decent settlement.

I was offered a 27% settlement on 27k- It's just about to go t Collection- I've been told its a good deal but do you think if I said 4k is it, all I have. they will take it?

i had an mbna card..balance 11,100..i fell on difficult time..missed payments ect. but my card NEVER got bad enough for charge off...i worked with mbna internal collection department and arranged settlement of 2811. about 27% roughly-i have the check framed on my desk! best settlement yet..and her's the kicker..it doesn't show as a collection account..it says paid as agreed on cf!!!! keep in close contact with them..it CAN happen i know

I signed up with a debt settlement co in dec
on fri last week got my first settlement and it was for BOA 27,000 settled for 6,600 25%

While the common response to debt settlement companies is "Why should I pay them when I can do it?" The reason is listed above when a consumer calls to settle the debt the creditor knows they can push for a lesser settlement because the consumer is not a proffesional debt mediator, however on the flip side of the coin if the consumer hires a proffesional and they call in and everything goes as planned especially with BofA you are looking at 25% to 35% on original balance hence this is why you should hire a proffesional to settle your debt check out

financialhardship.info

No need to hire someone to settle! Its simple to do it yourself. Money is money. BOFA doesnt care if your a professional negotiator or joe blow off the street. Tell them what you will pay "take it or leave it" 25% is better then 0%. Play the game. Goodluck

Try not to get hung up on the BEST deals on this site! BOA will settle between 25-40%. Just make sure you know where you are in terms of charge off date. The last week of the month is the best time to make an offer...don't just call them up and say I'll give you 20%, you must use round #'s and NOT %'s in your conversation...they can use %'s, just don't you use them. They need to think that this is all the money you have access too, which is true anyway. Don't tell them that this money is yours or that it is in your acct. Just tell them you can "get access to" it, or you have a source or two that are "helping you with the funds"...in order not to be lying, borrow $1 from a friend and include it in your funds...they will settle.

Hello all. I'm new to the whole settlement idea, but it seem's like it's the best alternative for me right now. As my family is heading into some rough circumstances. I just want to get rid of this debt and start moving on. I currently have a $9,800 card with BofA and I am in good standing. From anybodies experience, do you think they will settle with me if I take it to 90, 120 or even 150 days? Also what percentages have they been offering. Thanks alot!

180 days from the day you stop paying or how you calculate the 180



[QUOTE=Anonymous;397553]I have settled my own debt with BofA and my Girlfriends and I got 11% of 50k settlement and she got 20% with 6 payments. You need to wait till the 180 day mark is rolling around. Call about 2 weeks ahead of time and tell them a sad story and that you dont have any money but you may be able to borrow some. Its about 50% what you say and 50% how you say it.
* Personal information deleted as per TOS - Jason[/QUOTE]

Did it work for you, i am scared they will sell the account and I will be stuck with the other co.

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This is total BS. You can do it yourself. The creditor makes the decision no matter who is negotiating.

All you got to do is a little bit of research, and you can save yourself thousands.

Remeber, All most all of these DS scam companies are being sued and will probably be gone in a year. The TASC associations are all paid for by the DS companies. Change the name to BS companies.