What percentages can I expect?

I am also wanting to know the answer to you question. I have a Chase, Discover, BofA and Amex with CAs that I haven't paid since January and will need to settle. How did you get Discover to take your account back? Mine is with Zwicker right now and when I call the Discover number they tell me to call the CA.

I didn't. It just had happened that way before I had to take this over. The lady at Chase led me to believe that their accounts do the same thing. She said they are reviewed after a period of the CA having them and may be brought back in house.

Wow...that's good! I will keep in touch with them to see if I can get them back to the original creditors.

50 % settlement isn't too shabby.

The problem is that they all want to settle at once now. I don't know if I should keep ignoring calls on the ones I can't now or what order I should put them in.

Discover= most aggressive creditor you have
Citi = 2nd most but not too bad but can be a pain in the butt.
Chase = 3rd most but not that bad
Wamu= 4th most , should be a piece of cake

Where does AMEX fall on the list above?

About the same as Citi bank. The two worst most aggressive creditors right now are Bank of America and Discover card.

So are you saying that you should try to settle with the most aggressive first and then go down the line.

I'm in the same boat. I settled with Chase for 55% and Citi for 38% just recently and right before charge off. A second Chase, BofA, Discover and Amex are all with collections. I won't have any sizeable amount saved after paying the 1st two settlements until after the 1st of the year and then most likely only enough to settle one account. The BofA is the most at 20K right now and Amex second at 16K, Discover 7K and Chase 6K. All are about 6 to 7 months behind. I have just this week sent DV and limited CD to each of them by CMRRR.

What are the chances a CA for Citi Card will accept a settlement over 12 months?

I'm not sure about a CA, but Citi settled with me directly for $1000 down and then monthly payments for 11 months.

Let me get this strait. The BofA for 20K right now and Amex second at 16K, Discover 7K and Chase 6K are all you owe left right ? If that is correct , I would settle the Discover and B of A "or the collection agencies that are collecting for them" next. Those creditors are known to be more aggressive. They might do a structured settlement. What state do you live in ?

What is a structured settlement?

Mobile0311,
Thanks for the heads up. I have both BoA's settled, thanks in part to James. I will give credit where it is due.

Discover seemed very nice. This charged off on 3/31. They had turned this to Redline Recovery and they were horrible to deal with and were breaking every law known to man. I DV'ed them and finally had to to a CD. Discover has taken this back in house and the lady there told me she would flag it so it stayed at Discover since I was willing to eventually settle. It is one of my highest balances left.

Would I be better off to forgo settling with Chase now and save for Discover?

On the flip side, your post says WaMu should be a piece of cake. On that one, ours has been sold to Arrow Financial. They seem very aggressive, as does Citi. Arrow is threatening that on or about August 21, this would "escalate" if not settled by then.

I know whoever holds these probably makes a huge difference. I am not afraid to deal with the CA's but would like to do it as smart as possible and in the most sensible order. Your input is greatly appreciated!

"escalate"

A lot of collectors will say that to scare you . They want you to assume that means lawsuit. I would just tell them you are not refusing to pay but you just don`t have the money right now.

Would I be better off to forgo settling with Chase now and save for Discover? If you already agreed on a settlement with Chase you need to stick with it because if you renig on the agreement that could tick Chase off and they might sue you.

Yes, that is what I have left with CAs. Discover is with Zwicker, BofA is with NCO, Amex is with United Recovery and Chase has just last week gone to Mann Bracken.

I live in Maryland.

After settling with chase you might want to settle with discover next.

I will work toward that. With settling BoA and Chase this week, that will leave me tapped out til the end of the year. I will keep in contact with them, though, as advised by them so they know that I am interested in making right on this debt.

How easy is Capital One to work with :?: ....I am 158 days late and spoke with them yesterday. They were not at all interested in settling and kept pushing a repayment plan to get me "back on tracK"... the problem with that is that is only a band aid.....a few months from now I will be back in the same boat- over my head in payments.

Thanks for any input to this question.

I am not sure Chase and I have a deal. A girl told me yesterday that they would take a lump sum on my settlement, then payments to pay it off. But when I got the fax this morning, they wanted the whole lump by 10am. I can't do that so faxed them back and told them that I would have to contact them later when I had more money.

I also had to threaten legal action to get them to stop calling me at work. They called me FOUR times. I finally told the man, "Did I NOT tell you to stop calling me here at work?" He was persistent and rude. In my fax back to them I reiterated that I cannot take calls like that at work and if he kept on, I would take action as it is against federal law.

I don't know if they are ticked but what the girl told me and what the settlement letter said didn't agree.

Looking for a fast answer on Bank of America in collections with United Recovery Services.
Has anyone settled an account with them lately & what percentage did you finally arrive at?
The lady at BOA said it had just been sent to or back to URS this week. How long will they have it?

my experiences with discover and citi, are as follows for starters i had a Great settlement through discover even though i put up with a lot of harrassing abuse from them. They were the worst when it comes to scare tactics and calling numerous times a day. had i known better they would have paid me. I just didnt know that they were harrassing me illegally. but in the end i got a great settlement out of them. citi on the other hand a royal pain in the you know what. sued me on a card that i owed less than 700 on and in the end they wanted 1300 and would not settle for a dime less. and they proved it by taking my butt right to the magistate over it. would absolutely not budge a cent. I even offered the origional balance at charge off a no go. dirtbags i hate citi

citi finanical 65% of loan payback

BOA 25% of loan payback

I & my Girlfriend (Live together - currently renting to own; in 2nd year of 3 yr agreement to buy House for pre-determined price) am in similar place. Between us we have Total of $13,000 Debt; we are getting around $7000 back from taxes. Looking to pay off as many as possible w/ 1 shot payment. Will they accept around %50 offer of total owed?

Credit Cards and Medical Bills - all with CA's. Any words of advice?
Mark Wiz

Most will take 50% at 90 days delinquent. You have to get closer to chargeoff before it gets much better. Good luck.