Settlement Question
Date: Tue, 08/12/2008 - 12:15
Quote: I have heard that it is better to wait till the end of th
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I have heard that it is better to wait till the end of the month to settle because the cc companies are more "desperate". Is this really true? |
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Has anyone ever settled an account and had a creditor remove derogatory remarks from the trade line? |
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Have I broken some golden rule by attempting to settle these accounts in the first two weeks of the month? |
Thanks
Thanks, mobile.
After doing some research, it looks like the average settlement is 40-50%. Does this fluctuate with the market?
My accounts are with BofA, Chase, Discover, and Citi. Does anyone have any insight as to where to start when negotiating? Do certain banks have tendencies? Do balances have any bearing on the percentage the banks are willing to accept?
Thanks again!
Quote:My accounts are with BofA, Chase, Discover, and Citi. Does
Quote:
My accounts are with BofA, Chase, Discover, and Citi. Does anyone have any insight as to where to start when negotiating? |
Its hard to say who to start with first . depends on the balances also. I will say that typically Bank of America and Discover can be aggressive. Citi and Chase should be easier to settle with.
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Do certain banks have tendencies? |
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Do balances have any bearing on the percentage the banks are willing to accept? |