Can I please hear a real answer here?
Until you have around 40-50% of the balance saved up do not tell
Until you have around 40-50% of the balance saved up do not tell them you are saving money to settle. Depending on the creditor that can tick them off and they might escalate the account to legal dept . In the mean time when you receive collection calls log who calls what time and what the collector said. If they are breaking any laws that can be used as leverage later when it comes time to settle. All you need to tell them is that you are having financial difficulties and that you do want to pay them but you just don`t have the money right now. Stress to them that you you do want to take care of your financial obligations and you are not refusing to pay but just having a tough time right now due to the economy and gas prices and bla bla bla "what ever your hardship is". You are not lying but your are also not letting them know you exact game plan. When you have the money saved up to make some sort of a reasonable settlement offer then contact the creditor to start the negotiations.
What are the names of your creditors and the balances ?
Thank you Mobile. Simple question with a simple answer. I like t
Thank you Mobile. Simple question with a simple answer. I like that. Straight foward.
Here they are:
Capitalone: $4,873.70
capitalone $641.50
shopNBC $3443.10
GEMB $2619.68
HSBC $ $677.69
Discover $3300.52
CITI $2205.64
capitalone loan :$6712.14
I live in NYC.
Ok. NOw! How do I do this? I am putting 600.00 on a high yield account. Do I start settling with the higher accounts or it does not matter? You are my man Mobile!! I know you can help me!! Thank you. Should ask them to close the account so it does not add interest and late fees or it automatic happens?
Quote:Should ask them to close the account so it does not add in
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Should ask them to close the account so it does not add interest and late fees or it automatic happens? |
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Do I start settling with the higher accounts or it does not matter? |