Bofa only going down to 30%!!

your debt might be stamped with a threashhold is what b of a calls it, i recommend to do the 30% if you can.

upper management stamps these for whatever reason they have i dont know, if it is really charging off this month you can beg more but dont miss your opportunity to settle if you can

They will report you to Chex Systems and it will be difficult for you to open a bank account anywhere! It will also go to a third party collector! Take it if you can pay it!

Thanks, good advice....

I guess I will....looks like I will settle 4/5 accounts for about 32% on average which is a little bit higher than I was expecting.

Chase will not settle at all with me, stating that I don't qualify. Its almost at 180 days....Unbelievable....Its going from pre-litigation dept. to their attorneys tomorrow....

Chase is not giving me a good offer either. I know someone who let it charge off and got 20% from collection agency 2 weeks later.

So if it goes to their attorneys won't i get sued? Or will it be charged off?

Will BofA let you at least do it in payments? How big is the debt and how late are you? I wish I could tell you what it means with their attorneys...we just are a week late with BofA with 44,000 on business cc..so just starting this with them. They just called today for the first time..all day long.

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I also am receiving no settlement offer from Chase at 150 days. Has their posture on settlements changed? Does anyone have a recent settlement?

For me, Chase has been a nightmare. How come I'm not eligible?? Its at 180 days now, going to attorneys in couple of days.

Seems like everyone is getting an offer, just not me....

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chase should do 30% rather easily-however- they do base it on the length of your debt/payments and the recent use and the nature of the use of your card. that may be why they have you at a higher settlement threshold. just tell the representative to submit your request, even if they tell you that it willbe denied. If they send it thru, at least it gets you in touch with the correct department and not just dealing with the regular customer service reps

Seriously, 30% is a gift at this point. I would be thrilled with that offer. Take it!

Are you settling by yourself or are you using a company?

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OP here....yes I'm going to take it....just seems higher than other folks on this board. If everyone was getting 30-35% I'd be happy. Guess I may be getting greedy....

What ever happened with the chase accounts? They are saying that I can't make any offers as it is due to charge off in a couple of days (They originally told me it was due to charge off at the end of the month). They seem to change their stories alot. Any advice, should I take their 40% offer or take my chances at being sued? Thanks.

What ever happened with the chase accounts? They are saying that I can't make any offers as it is due to charge off in a couple of days (They originally told me it was due to charge off at the end of the month). They seem to change their stories alot. Any advice, should I take their 40% offer or take my chances at being sued? Thanks.

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What is the difference on my credit report if I settle with Chase today for 30% or if I wait a week for it to charge off and then settle w/a collection agency for maybe 20%. This would save me a few thousand dollars, but would there be more damage to my credit report?

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I thought Chexsystems was only for bad checks and/or bad checking/savings account activity. I would really check into whether or not they can report you to Chexsystems for credit card debt - that is not my understanding of what that system does.

And I agree with Bal Mich - 30% is a great offer. Think about it - in fell swoop you just got rid of 70% of the debt - that's fantastic.