Paying Settlement in Lump Sum vs Installments?
Date: Wed, 04/14/2010 - 08:34
Most say you get a better deal if you pay lump sum. When you ar
Most say you get a better deal if you pay lump sum. When you are talking settlement with credit card company ask them.
Otherwise totally your choice. Lump sum gets them out of your life faster.
How many pennies to the dollar cash settlement chase 29000.00
How many pennies to the dollar cash settlement chase 29000.00
Quote:Originally Posted by OZZIE69Most say you get a better deal
Quote:
Originally Posted by OZZIE69 Most say you get a better deal if you pay lump sum. When you are talking settlement with credit card company ask them. Otherwise totally your choice. Lump sum gets them out of your life faster. |
I took installments that were offered at the same % because that way my credit did not start to improve until I had the last one settled.
One of the reasons that I took payment is that it allowed me tim
One of the reasons that I took payment is that it allowed me time to settle my other cards without them knowing what I had already settled. I was worried that the last one would say that I now could afford the payment or that they would realize that with only one left it wouldn't make sense to declare bk any more.
But if they had offered me a much lower settlement to do it in one payment I would have done it in a heartbeat.
Quote:Originally Posted by AnonymousOne of the reasons that I to
Quote:
Originally Posted by Anonymous One of the reasons that I took payment is that it allowed me time to settle my other cards without them knowing what I had already settled. I was worried that the last one would say that I now could afford the payment or that they would realize that with only one left it wouldn't make sense to declare bk any more. But if they had offered me a much lower settlement to do it in one payment I would have done it in a heartbeat. |
Brilliant minds obviously think alike, dftb. I have one left and I am trying to make a deal before they figure it out.
Hi If you have money better pay in full.This will be great debt
Hi
If you have money better pay in full.This will be great debt relief for you. Why do you want to pay in installments? Are they charging any interest for that? Secondly also find out how they will be benefited by this?
Quote:Originally Posted by AnonymousHi If you have money better
Quote:
Originally Posted by Anonymous Hi If you have money better pay in full.This will be great debt relief for you. Why do you want to pay in installments? Are they charging any interest for that? Secondly also find out how they will be benefited by this? |
The reason you may not want to pay in full is that if your credit report shows you are settling cards, they know you have money and other cards may not be as willing to settle at a low %.