Settlement Offer

[lexigirl]

Can anybody tell me if it's true that once you agree on a settlement with a credit card company and later if you can't fullfill your end of it, the settlement can't be discharged in bk? I am attempting to settle my cc debt on my own but won't pursue it if I know that I'm closing the door on bk in the future if I can't come up with the money to pay the settlement amounts.

[kennyd666]

Take this for what its worth Lexi......i too was trying to settle my debts....had a judgement against me that i agreed to repay at $600 per month for 5 months......after the 2nd payment my lawyer told me i may as well file BK with the other debts my divorce left me with. She said the entire amount of the judgement will be discharged.....and i may even get 1...if not both of the $600 payments i made back. She is a very good lawyer that handles BK's almost exclusively.....so i assume she knows what she is talking about.....

[BKINAZ]

I think that is right as well...although you might want to keep good records with who you are trying to settle with to show there wasn't any favortism from one creditor to another.

[StartingOver08]

Can anybody tell me if it's true that once you agree on a settlement with a credit card company and later if you can't fullfill your end of it, the settlement can't be discharged in bk? I am attempting to settle my cc debt on my own but won't pursue it if I know that I'm closing the door on bk in the future if I can't come up with the money to pay the settlement amounts.

No. This is NOT true. This is a scare tactic that collectors say to keep you paying on your debt.

The issue really is, if you can not fulfill the settlement terms, you have really thrown that money away.