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BOA recovery department

Date: Tue, 08/10/2010 - 05:01

Submitted by tryinhard
on Tue, 08/10/2010 - 05:01

Posts: 27 Credits: [Donate]

Total Replies: 9


BOA has offered me a settlement of 30% over 93 days. i'm not 100% sure we can me up with all those funds within that time frame. when i voiced that concern she transferred me to the recovery department who couldn't give me exact specifics since my account wasn't to them yet, but said that they can do payments over a longer time frame or (i think this was what he said) do payment plan like 1% of total. has anyone ever worked with them and what options did you have at that time? if it's a worse scenario, i don't want to do that, but if it is a comparable amount over longer time (like 6 - 12 mo), that would be much better for us...

thanks!


I am sorry my husband talked to them and I can't remember all the details. Now that I think about it, I think it was more than 40% but they did give us longer than 90 days but it was was something like $200 a month for so many months. The original balance was $7300. The hard thing is once it goes to recovery (at least in our case) there isn't much wiggle room. They really stuck to their guns at that point and said they could not offere the same offer. So to sum up, they did give longer terms but for us the monthly was too high.


lrhall41

Submitted by Jill Adams on Wed, 08/11/2010 - 13:14

( Posts: 96 | Credits: )


We went to recovery after 120 days and telling them we were going to file BK.....they ended up settling with us for 25-27% of our debt! We were very lucky....I did not keep in touch with them because I was in shock and I was so depressed.....I wish I would have, but I was so overwhelmed and did not understand the process. I would definitely communicate with them .....


lrhall41

Submitted by on Wed, 08/11/2010 - 15:11

( Posts: | Credits: )