Anyone settle with BARCLAYS ?

Hi CityBoy,

If you search the forums there are hoards of discussions on dealing/negotiating with creditors and collection agencies. Keep reiterating your request and ask to speak to someone who can actually consider your situation. You can wait it out little more to see if they come up with a better offer.

I think that's good advise.
But I would still like to hear what other people have settled at with Barclay's lately ?

Coming up to Day 90 and Barclays will not budge from 70%. Whys is this company so difficult to work with opposed to others (chase) who I have settled with at 35% in 70 days.

Quote:

SC you are right. companies do differ. I just am in the process of trying to settle with BOA and after 90 days sent me to collections Penncro and Barclays just will not be reasonable. Chase on the other hand were easier and in the settlement payment process now.

I'd add that companies even behave differently with different consumers. Our members have often commented that BofA is one of the easiest lenders to deal with. Some of them have even settled with them for as low as 25% of the debt amount and yet they turned out to be the most difficult one when one of my cousin tried to settle with them. But anyway, hope that things soon start rolling for you. :)

Yes, Bank of America was easy for me. I settled for 20% and it was a fairly easy process - as these things go. I also had massive balances with them - about $94K and was able to pay in a lump sum.

I am about 75 days past due with Barclay's, and have experienced the same thing as you (CITYBOY). They are around 65% with me. I suspect that waiting it out is the answer. Keep us updated on any progress you make with them. I will do the same. I actually had someone on the line that sounded like they might work with me the other day, but I was on my cell phone and the call dropped. Grrrr!

All I know is I had a client recently and he had a letter offer from them and it was at 50%, approx 3 months past due, but the client had to file BR, he was way too far gone to try this stuff

I was able to settle on a Barclays Business card for 20% after 180 days. They offered 85% and at 150 days I offered 20%, they accepted that after 180 days.