logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

How much to say to CC during negotiation

Date: Thu, 09/10/2009 - 12:12

Submitted by anonymous
on Thu, 09/10/2009 - 12:12

Posts: 202330 Credits: [Donate]

Total Replies: 3


Hi, one of my credit cards has brought up settlement. How much do I say about how much cash I have access to? The amount they have mentioned is almost as much cash as I have, but we have other cards to settle. I kind of said that, but I'm worried about giving too much info away. I'm only 70 days past due and they talked about 55% of balance. I want hold hold out for less. They already started mentioning charge-off.

Any guidance about negotiating is appreciated.


the key here is to keep communication open with them and if you are not willing to accept the 55% then you take the risk of charge off. but this may not be that bad sometimes you get a better settlement offer. my suggestion is to counter offer for say 25% they are probably gonna say no way but with a little luck they may counter offer you with maybe 35% this is how the negotiation should work i would not tell them how much you have available just that you have other creditors to pay to and the amount of money you have is on a first come first serve basis. if they dont want it then they may have to wait till next month. but be sure to keep the communication going. if you avoid them then it will go to charg off quickly atleast if you are talking to them they wont be so quick about it. but they still may but you might get a better deal through the collectors anyhow. good luck!


lrhall41

Submitted by love_my_things on Thu, 09/10/2009 - 12:21

( Posts: 1434 | Credits: )