Negotiating Charge Offs
Date: Wed, 12/01/2010 - 11:53
Submitted by allisone edwards
on
Wed, 12/01/2010 - 11:53
Total Replies: 5
I wanted to know if anyone has any suggestions on negotiating charge off payments?? I have 3 private loans and one credit card that was charged off this year. I would like to set up monthly payments so I can start paying them off. Also, I would like to know my rights as to how much I would have to pay. I checked all three Credit Reports and they have different amounts. The amounts are higher than what was actually charged off. Please if someone could greatly help with this.
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Amounts are going to be higher than the charge off amount as int
Amounts are going to be higher than the charge off amount as interest continues to accue.
Private loans? Are they student loans or consumer loans? Either way you will have a default clause whereby on default your balance becomes due in full.
The charge-off amount is the amount of the debt at the time the
The charge-off amount is the amount of the debt at the time the bank wrote it off as a loss. Interest can (and usually does) still accrue. Since you've already taken one of the biggest possible hits on your credit when the account(s) charged off, you're better off negotiating a settlement than you are making monthly payments.
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These are private student loans. Thanks for responding I will ha
These are private student loans. Thanks for responding I will have to figure this out.
Hello Do you have any suggestions, on how to start negotiating
Hello
Do you have any suggestions, on how to start negotiating on an settlement? This is all pretty new to me so I don't have any clue as to where to began.
Are you trying to negotiate a settlement or payments? You canno
Are you trying to negotiate a settlement or payments? You cannot do both at the same time. A settlement is a one time payment....payments are long term
How much do you owe? With private loans, they will most definately be wanting balance in full or the highest payments they can get to get the loans paid off and resolved,. They dont want long term payments....plus privates do actively sue even when you are making monthly payments.