Working on my Settlements
Date: Sat, 02/14/2009 - 17:17
Have settled:
Orchard Bank 2600 for 1300
Orchard bank 2200 for 1100
Citiflex line 4300 for 1725
Have an offer from B of A for 9300 on 18900. Waiting that one out for a lower rate.
Waiting for other become late to work on them.
Good job. Keep up the good hard work and before you know it you
Good job. Keep up the good hard work and before you know it you will be debt free.
how did you start the settlement offers by phone or mail and wha
how did you start the settlement offers by phone or mail and what did you say to start it off Thnks
Once the initial payment was missed, and they start to call, I t
Once the initial payment was missed, and they start to call, I told them I was trying to avoid bankruptcy, and was looking to settle.
The CitiFlex line was 38 days past due, and they offered 40% in their first offer. I took it, maybe could have waited it out for less, but took it.
The 2 Orchard Bank cards, (HSBC) worried me more, as have heard HSBC is tough to settle with. They called for a payment and I asked to settle. First offer was 80%, said it needed to be 30%, was on hold, they offered 65%, I said 40%, was on hold, then they came back with 50%. Took it, figuring 50% with HSBC seemed pretty good. Plus rates on these cards were 29.99%, which makes 50% seem pretty good.
My wife and I have 4 more cards with HSBC, so we shall see how those go.
