Settlement crunch time. ???
Date: Mon, 12/14/2009 - 09:56
Got a call from one of my cards and talked to the manager. He said that today at 4pm was their "deadline" to asssist me with one of their programs yet he would not state what whould happen if I did nothing today. I asked and he said I'm 148 days past due. He was very helpful and nice and said he would work with me on a settlement to get approved by his manager but first, I have to make the old minimum payment of $500 to get me another 30 days to negotiate. He said this payment can go towards your settlement but we need to make this payment today, otherwise it's past their "deadline". And since it takes up to a week for settlement approvals, we need that minimum to get you more time.
I know time is running out on resolving this with the original creditor but I am so skeptical to make any type of minimum payment just to "keep things alive" and negotiate. To me, it feels like $500 down the drain. Either lets settle or not. Any thoughts?
I know time is running out on resolving this with the original creditor but I am so skeptical to make any type of minimum payment just to "keep things alive" and negotiate. To me, it feels like $500 down the drain. Either lets settle or not. Any thoughts?
Which credit card is this? Sounds fishy to me. Some credit car
Which credit card is this? Sounds fishy to me. Some credit card companies will go up to 180 days. I wouldn't give them a penny until you had a settlement proposal in hand. Are they offering you a settlement or a hardship payment plan? There's a difference. But until you have something in writing, either mailed or faxed to you, don't give them a dime. (or dollar).
I agree with Audrey. I think if you give any money, the clock s
I agree with Audrey. I think if you give any money, the clock starts to tick all over again.