advice, please. Will Bofa settle for 15%?
Date: Mon, 08/10/2009 - 11:23
I owe $1,050 dollars to them.(I know it doesn't seem like a lot, but its one of many). i am on unemployment. Do you think they would accept an offer of 15%?Would they take installments?
Are they less or more likely to settle for a smaller percentage if you have a smaller balance?
Sorry for all the questions.
Thank You
If you are on unemployment and you need all of your money to liv
If you are on unemployment and you need all of your money to live on (you should have saved aproximately 6 months of living expenses to cover you for the time you are unemployed), you probably should not be trying to pay this off right now. You mention you have other debt. I would consult with a bankruptcy attorney and a debt settlement company to determine what is your best course of action. A complete financial analysis should be done in order to make an informed decision.
Can a debt be settled after it has been charged off?
Can a debt be settled after it has been charged off?
I would just like to ad that, I am probably going to be able to
I would just like to ad that, I am probably going to be able to borrow the $ from a family member if BofA is willing to settle for 15-20%.
Thank You
Yes, a debt can be settled after it's been charged off, but it w
Yes, a debt can be settled after it's been charged off, but it will likely be with a collection agency. The credit card company seels their bad debt to collection agencies. it is not realistic to think you will settle for 15-20% of the debt. It is more likely to be 40% - 50% of the debt but you can start at 30%.
I have seen on here BOA will settle for 15 to 30%, so it doesn't
I have seen on here BOA will settle for 15 to 30%, so it doesn't hurt to offer 15% and maybe settle around 20. If it gets charged off don't worry about it, just keep offering 15% and tell them that is all you can handle.