Settle Target Visa???

Hello Patterson,

Yes, Target Visa, like most other financial institutions that deal with Consumer Debt, will settle under the right circumstances if it is in their best interest to do so. However, you always do run the risk of potentially being served with a lawsuit anytime that you are not performing under the agreement. If you financially can no longer afford to pay it then you can't stress too much about what may or may not happen. You should however focus on raising as much money as fast as you can so you can come to a new agreement with the credit issuer. Once you come to terms (whether that is a settlement or installment payments) that will stop an account from potentially progressing to litigation.

Should we stick with a debt settlement co? Or should we try to talk to them ourselves. Target tells me they will not even talk to a debt settlement co. Our biggest fear is being sued, but the payments they want on a closed acvct. payment plan is just higher than we can come up with. Thanks

that depends on what you are comfortable with. Is it just this one debt? Oh, by the way, pretty much all creditors will tell consumers that they don't settle, or don't work with settlement companies. Their job is to make sure you keep paying them. Just part of their bag of tricks. The decision to settle your own accounts or hire someone is a personal decision and you just need to do what you are comfortable with.

No, we have more accts. the target is just a worry, because of what i have read about them and what they have told me. our balance is also high at 13000. all of our debt totals about 35000, that includes a hospital bill for my son when we couldnt get him insurance. our creditors are, capital one, sst, merrick bank, hsbc, jcpenny, sears, walmart, chase.

Ok, if you just had the one debt for 13K, then doing it yourself is really a no brainer. With these other debts as well, again it just comes down to whether you want to pay a fee to have someone help you, or save the money on the fee and educate yourself and work through the debts on your own. Just be cautious when selecting a company to help you if you go that route.

thank you so much for your time

no problem, good luck and don't let the target visa rep rattle you to much.

I had a debt with Target Visa, around 2500. I am also in a debt settlement program. They knew I wanted to settle, but as soon as they found out, they ceased all communication, and sued me several months later. I received the summons and called the attorney representing them immediately, and worked out a settlement at that point. By then, so many fees had been added on, by the time they felt they were being generous by offering me a 70% settlement (or thereabouts), I was paying the amount of my original debt. They did arrange the payments with my settlement company, though.

I feel they didn't work with me earlier because they wanted the fees to add up so they could get their original debt amount. At least I was able to settle before the court date, and have the case dismissed. I am glad it was a small account.