HSBC Settlement letter
Date: Sat, 12/26/2009 - 15:17
What was the settlement offer you got and on what amount? How ma
What was the settlement offer you got and on what amount? How many days late were you before getting the offer? I have a GM Card/HSBC that I just started not paying this month and wondering how they were to deal with?
Good luck & thanks for any info.
It was between 60-90 days late and they offered a settlement for
It was between 60-90 days late and they offered a settlement for 50% on $14000.
That gives me some hope, because I owe them about 18,000. I hope
That gives me some hope, because I owe them about 18,000. I hope I can get a similar offer in that short of time. Did you keep in contact with them over the phone to negotiate the settlement offer or did they just send you the offer in the mail? Any tips you can offer on how I should approach getting a settlement offer from them would be appreciated.
Thanks!
Quote:Originally Posted by AnonymousI received a settlement lett
Quote:
Originally Posted by Anonymous I received a settlement letter and it stated after I pay the amount agreed upon that my credit report will say Account paid in full for less than the full balance. Is this OK? I tried to get them to state paid in full only and they would not go for that. |
this is normal, you can try to negotiate paid in full, but in all honesty they usually dont cooperate with that. some people have had luck, but mine all vary from settled, account paid, paid off for less, etc. you can try negotiating it but they can report what ever they wish. dont loose your settlement over that.
Hsbc
Dear CCBK,
I had a debt to a credit card company (Target) for $16K. I offered them 30% ($4800) of that amount and they accepted that offer. My suggestion; start low and work your way up. Offer them a settlement of 30% of what you owe. You may be pleasantly surprised. All they can do is say, "we need more than 30%."
But, either way, make sure to get a letter from them, which states that you have no further financial obligation to them once you finish making your payments and that your credit report will be changed from a "charged off" status (or whatever it is now) to a zero balance or some adjustment and GET IT IN WRITING.