Bank of America

[jwmc1]

I am 180 days behind on $13,600 balance on a B of A credit card. I entered into a deal with them about a year ago to pay $270 a month (no interest). I am to the point where I need to stop this. Once I do, I think there will be about 30 days before it is charged off and sent out for collection. Anyone care to weigh in on how long you think I can go before I need to seriously get concerned about lawsuits? I know no can tell me if i sill be sued, but I would like to get to mid-March where I might be in a position to settle this account. I was offered a settlement of $4,400, but I don't have it.

Should I keep paying the $270, or roll the dice that I won't get sued. I am trying to avoid filing.

[95kindebt]

we have 2 accounts with b of a that were just charged off this past June. They've been sent to 2 different collection agencies. The 35k line of credit, the CA was trying to get us to settle for 5800. Yep. $5800. We decided on CH 13, and haven't talked with any of the CA's since that offer. They are both on the 3rd CA.
Hope that helps. No threat of Lawsuits yet. Knock on wood.

[treehugger1]

I had two accounts with BoA (One was an old MBNA.) They sold one to a JDB who sent it to an attorney firm. I DV'd and never heard back from the attorney firm. That was about 10 - 12 months ago. Currently, the account is back with an attorney firm in Texas who called me the other day and claimed to have sent me a letter months ago.

I have no idea where the other account is being handled. For a while it was with some CA in NY. I filed a complaint with the Consumer Finance division of my State AG's office, and the account is currently off the radar. it's somewhere.

For what it's worth.

[jwmc1]

I plan to try and settle the account right after Christmas for $2,000...maybe they will be motivated to get it settled by year-end. I have made my last payment on this one.

[jwmc1]

we have 2 accounts with b of a that were just charged off this past June. They've been sent to 2 different collection agencies. The 35k line of credit, the CA was trying to get us to settle for 5800. Yep. $5800. We decided on CH 13, and haven't talked with any of the CA's since that offer. They are both on the 3rd CA.
Hope that helps. No threat of Lawsuits yet. Knock on wood.

Why did you choose to file rather than settle? Were you able to get a lower % repayment on all of the debt or were you having other issues related to foreclosure?