2007-02-19 07:06:40 · 12 answers · asked by icantbelieveimme 1 in Business & Finance ➔ Credit
I bet some cards would and some wouldnt
WHAT IS THE WORST THING THAT THEY CAN SAY?
NO
so what
even if they say no, you are in no worse of a situation then you were before you called.
I am sure that the laws have changed now but when my credit was bad I proposed a settlement and it was accepted. I told them that I was filing for bankruptcy and wanted to pay them since they were there for me when I needed them and they could get a piece of it or NOTHING>
they accepted the piece...
I owed 4k and they accepted 2500.
I dont know if that would work today since the bankruptcy laws changed.
but again
i would try
if they say no
it matters not
also
I tried to get a lower interest rate on my credit card and they turned me down
so I called bank of america and got a zero interest for 12 months transfer.
Old credit card company has been offering me all kinds of FREE stuff to come back
and all i tell them is to kiss my hiney~
tell them that you got some free offers to switch
that might work
I do wish I would have done that first as it might have saved me about 2oo bucks in interest payments that I had to make before I made up my mind to accept another offer
2007-02-19 07:34:04 · answer #1 · answered by kissmymiddlefinger 5 · 0⤊ 0⤋
Yes you can, as a matter of fact after my late wife passed away, I called several of our credit card companies and made settlements. Some were as little as 50%. What you need to make sure of is to get everything in writing and make sure that they agree not to report you as "Settled for less than full amount".
To achieve this you will have to talk to management, customer service doe's not have the power to make these decisions.
2007-02-19 07:28:53 · answer #2 · answered by ? 7 · 0⤊ 0⤋
in simple terms how did the credit card agencies "make" you run up $55K well worth of credit card debt? Sounds to me such as you have been residing way previous your potential and it quite is catching as much as you. pass forward and phone the credit card agencies consisting of your little scheme. locate out in simple terms how immediately they could convey lawsuit. You ain't the 1st one to think of of this little plan. in fact, there is an entire marketplace (debt settlment agencies) attempting to pull the comparable tactic. despite in case you do have the potential to convince the credit card agencies to settle, the perfect you're gonna get is approximately 20% or 30% decrease cost. you could additionally get a 1099 which might could be blanketed on your earnings taxes. needless to say, all those settled bills could be referred to as fee off/settled (negatives) on your credit record. yet that could shelter any destiny problems with credit card debt for you. You credit could be so trashed you does not have the flexibility to get a clean credit card or any loans. via the way, not each and every physique feels the way you do approximately credit taking part in cards. maximum persons use credit taking part in cards properly and don't run up huge balances.
2016-12-17 13:54:02 · answer #3 · answered by donenfeld 4 · 0⤊ 0⤋
yes you can but they will give you high interest rates.
If you go with a debt settlemet company they will usually negotiate for LESS or NO interest rates. Your principal debt amount will also be reduced to around 30% to 70% depending on your credit companies.
Please check this website for further information
http://www.debtfreeafterall.com
2007-02-19 07:55:04 · answer #4 · answered by Hima K 2 · 0⤊ 0⤋
Yes you can. But you should try to get to a supervisor. The customer service people you get on the line at first don't have much authority to do that.
2007-02-19 07:10:05 · answer #5 · answered by MOM KNOWS EVERYTHING 7 · 1⤊ 0⤋
Absolutely you can make sure you get everything in writing. such as them keeping your credit in good standing this can be done. email me at fort_bragg_girl@yahoo.com and I will copy and paste a sample letter for this.
2007-02-19 07:17:06 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Never hurts to try. Have a good reason and prepare to speak with a manager.
2007-02-19 07:11:03 · answer #7 · answered by wizjp 7 · 0⤊ 0⤋
if they even accept you offer, it doesnt mean it will be clear on your credit report. they can put on your report that you settled for less than owed and how much of a loss they took.
2007-02-19 07:16:37 · answer #8 · answered by jasonm658 1 · 0⤊ 0⤋
That would be the first option.
Maybe they would allow a longer term and slightly increase the rate. . .
2007-02-19 07:11:45 · answer #9 · answered by Anonymous · 0⤊ 0⤋
I've never personally done that, but I have seen it recommended at various times.
2007-02-19 07:14:30 · answer #10 · answered by Sunidaze 7 · 0⤊ 0⤋