good credit, no lates, settlement?

With good credit they are not going to settle without you being late. They have no reason or motivation to settle you in good standing. Plus you really need to be calling.

Greetings [URL="http://www.debtconsolidationcare.com/forums/member.php?u=226335"]damtalljay[/URL],

If you are in good standing then there's not any reason to help you out.
You've gotta be late and in apparent distress.

Keep us posted,
King "Kash" Jabba Labba

talljay,

If you are current with your creditors they have no incentive to work something out with you.

Also consider that their internal systems, policy and training of the employees you would be reaching at this point (while still current), are most often not set up to authorize any concession.

Once you miss payment, creditors will have different methods for resolving the debt. These methods range from offering lower interest rates and lower monthly payments to reducing the balance through settlement.

The methods, hardship plans, timing and percentage reduction will vary from one creditor to the next.

You DO NOT need to be 180 days behind to get good/great results. You can/should work directly with your original creditors whenever possible prior to charge off, which is typically 180 days delinquent.

As the lady said in her reply, you should use the phone in your efforts.

There is a bit more to it, but the simplest explanation for using the phone as opposed to mail is:
Writing in to your creditors means the mail room will open and possibly only skim the contents of your letter. Letters can be misinterpreted and misclassified resulting in more aggressive collection actions being taken, including early out referral to legal.

Settling accounts that are in good standing is extremely unlikely.

Best of Success!

Michael

appreciate the response(s). I am very in tune with my current cash flow, expected CF, and savings available to service current indebtedness. I guess thats my weakness, I see an end date to it all (October) and just want to get ahead of it. I guess I assume too much understanding from the big CC companies. Seems from the board that you need to assume all the appropriate characteristics before obtaining the eventual outcome. I was going to provide all the appropriate data via registered mail to back up my October end date, but now am re thinking that course of action....