Jump to content

CC debt in the low-60's


Halwil
 Share

The last post in this topic was posted 3865 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

I have a CC debt in the low-60's. The CA is offering to reduce it by about 40% claiming it is the lowest they can go. I have been paying $1100 a month on it.

 

Is this really the lowest they can go?

 

Any thoughts?

 

Thanks!

 

Haley

Link to comment
Share on other sites


Ok, I'll restate my issue --> I have a CC debt in the low-60's that is still within the SOL for my state.

 

The CA to whom this debt has been asigned is offering to reduce it by about 40% claiming it is the lowest they can go. I have been paying $1100 a month on it.

 

Is this really the lowest they can go?

Link to comment
Share on other sites

Probably not, but considering it's only assigned, you probably don't have as much wiggle room as you would if it were sold. Float them a counter offer and see what they say.

 

Would it be advisable to stop the monthly payments for a while?

Might that push it from being "assigned" to being "sold" making it more likely to settle it at a lower dollar amount?

Of course if I did that I assume that would make for an even worse situation with my credit rating...right?

Link to comment
Share on other sites

Probably not, but considering it's only assigned, you probably don't have as much wiggle room as you would if it were sold. Float them a counter offer and see what they say.

 

Would it be advisable to stop the monthly payments for a while?

Might that push it from being "assigned" to being "sold" making it more likely to settle it at a lower dollar amount?

Of course if I did that I assume that would make for an even worse situation with my credit rating...right?

They are generally more willing to settle if you've missed several payments. A relative of mine was trying to settle credit card debt, and someone at the credit card company told him they wouldn't even consider settlement until he missed some payments. Of course, doing that does damage your credit. There is also the risk that they might sue you.

Link to comment
Share on other sites

The last post in this topic was posted 3865 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share




  • Member Statistics

    • Total Members
      185003
    • Most Online
      2046

    Newest Member
    uptempodesign3
    Joined
×
×
  • Create New...

Important Information

Guidelines