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what requirements are necessary to negotiate with cc companies

Date: Wed, 03/30/2011 - 10:53

Submitted by kirkt
on Wed, 03/30/2011 - 10:53

Posts: Credits: [Donate]

Total Replies: 3


I am interested in reducing my $65,000+ debt on multiple ccs.

What makees the credit card companies wish to negotiate with you?
I have an income, but i cannot keep up with the payments AND my expenses.

What are the procedures to get your companies to negotiate and who to talk to?

thanks...


A credit card company will negotiate with you when you are at least 90-120 days behind in your payments and are having financial difficulties.

You would needs money to be able to do the settlements. You can go to the DIY section at the top of this forum and read how to settle your debts. You can also do a search on this site for your creditor and see how others managed their settlements.


lrhall41

Submitted by aubrey on Wed, 03/30/2011 - 11:06

( Posts: 1203 | Credits: )


The biggest "requirement" so to speak is the fact that you are in default and they want to get at least some of their money. If you can get across to them that you are going to be filing bankruptcy and they will get nothing. If you have a true hardship they will negotiate with you. Most hardships are medical, death of a breadwinner, loss of job or loss of wages from current job. But they have been known to negotiate with people who simply get over their head.


lrhall41

Submitted by Debt Free to Be on Wed, 03/30/2011 - 18:00

( Posts: 412 | Credits: )