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BofA Settlement

Date: Fri, 09/03/2010 - 08:04

Submitted by anonymous
on Fri, 09/03/2010 - 08:04

Posts: 202330 Credits: [Donate]

Total Replies: 4


Hello, almost 7 months late on BofA $47k in debt. They offered a settlement of $12,000 over 3 payments. I countered with $8500 since that is all I can borrow from a family member for this debt.

They said I have until Sept 11 before it goes 8 months and possible litigation or charge off. They also said that they could extend the Sept 11 date to end of Sept since I've been speaking with them.

The offers with them started back a few months ago and began at $24k. Every two weeks they drop the offer by $2k.

Do you think they would continue to drop the offer and eventually meet me at $8500 or so?

Anyone with similar experience?

Thx


Take the settlement, if you can come up with additional funds. That offer is very good! I could not get BOA to settle for anything less than 30%, and I think others have similar stories.

You can call them once a week and try to get them lower, it's worth a shot. But I would try to settle this in the next few months because such a large debt is likely to go to an attorney for a lawsuit.

Good luck.


lrhall41

Submitted by on Mon, 09/06/2010 - 16:45

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