How did you make payment for settlements?

Greetings Kat1975,

Did all of mine pre charge off from a checking account.
Not a problem with any.

Got a confirmation number and the letter followed shortly thereafter.

Good Luck,
King "Kash" Jabba Labba

ps: what's not in my wallet? credit cards.
ps: what's in my wallet? 2 debit cards.

King, so they debit the money from your checking account over the phone? I have offer fax but debt collector wants to do a check by phone guess that's the same as a debit?

King how did you receive a confirmation number after paying?
Sorry my first settlement!

Hello,
this is debtor in CA....just finished an incredible number of settlements with BOA, Capitol one, Citicard, and Chase...all husband's debt.....he used some joing accounts too. At first I was so fearful of using my checking account because I was afraid they would come after me for full amount and we do not have that kind of money.
So, we paid by check by phone in most cases....however, because there was a mix up regarding my account # for my credit union account....citibank used ACH (I believe that is what it is called) debit. I have had no problems with any of these so far. The good thing about check by phone is that you can put a stop payment on them if you need to.

BOA has already posted the account as settled on my husband's credit report. I have received pre settlement agreements from all accounts and have already received 4 post settlement letters that state the accounts were settled in the mail and we just paid starting on the 16th of this month. So, I believe if you "settle" with reputable companies ....they tend to be the best. Also, I asked for a confirmation number when I gave my account and check info to his creditors.
However, since you are settling with a debt collector.....I might open a separate checking account just for that purpose of paying this debt.

It is kind of scary to do your first one....but I am amazed how easy the process is....when I say easy, I mean fair.....it was one of the most stressful times in my life and I was so paranoid ......but I think you need to be.

I hope this is clear and helps.....

King Jabba helped me.....

Quote:

Settled several accounts and gave them bank info to take money out of account. As King said, only do this if original creditor.

Hi,

I have a very old PDL from 2005 for which I am unclear if it is paid or not. I was getting threatening vicious calls at work from an unknown company who refuses to give me any information regarding the old debt but was threatening to arrest me. Since the calls has stopped, however I recently received another threatening wage garnishment. First she said I owe $1855 for a $420 loan, then she dropped it to $1600 and gave me 9 months to pay it. This company is called D&I (Debt Inventory?). They also refused to give me any information regarding this old debt which has been passed around. They are not listed on the internet and said they have just relocated. I called my HR department at work and was told no judgement for garnishment has been submitted against me and that I need work it out with the company. So in a scare, I set up arrangements on a prepaid card, however I am still skeptical and am wanting to cancel this arrangement until they give me proof. How can I protect myself.

So, you settled yourself? By defaulting and then offering a lump payment? I have almost 40k in debt and have contacted PaymentReliefCenter.com but I can't find them on the BBB site and I don't see anything, good or bad, about them. I am a wreck. I, the same as most of you, have a credit score about 750 and make my payments. But my credit card debt is more than my income. Luckily house and car are not a problem and in myself and my husbands name. These cards are only in my name. Can I really settle them??? Please help...anyone who can with any advice. Much appreciated.
Thanks,
ALise

Greetings Mama Alise,

You can settle your credit cards all by yourself!!!!
(and with a little help from your friends in this forum)

My humble suggestions are that you read, read and read some more all of these great threads.

Next, you can assemble the knowledge and attack the debt using your own approach.

We have all been there and done that.
Ask questions and you'll get answers.

And now I digress....I was thinking about using a settlement company however after reading the fine print, I ran away as fast as I could....wound up in here via Google!

And thus I settled 87k for 27k....no big deal....low stress levels.
And I'm done.

Respectfully yours,
King "Kash":p Jabba Labba