Credit Cards willing to deal over debt

[AMISLANDER]

Just wondering, if the CC company accepts 50% of what you owe, do they want that in one payment or will they take payments. Who has that kind of money if you are behind in your bills?

They want it in one payment. I settled with one of my cc. Bad news; they added the debt that was dropped to my income....

[willbfree]

B of A called yesterday. They were offering 50 cents on the dollar. It was wonderful to be able to give them our atty's name and tell them to contact the atty for all communication now. It's a shame B of A couldn't have worked with us last fall when I called knowing I couldn't make next month's business cc payment. If they had things would have went a totally different route and I would never have find this site.

[banca rotta]

B of A called yesterday. They were offering 50 cents on the dollar. It was wonderful to be able to give them our atty's name and tell them to contact the atty for all communication now. It's a shame B of A couldn't have worked with us last fall when I called knowing I couldn't make next month's business cc payment. If they had things would have went a totally different route and I would never have find this site.

The problem with them working with you early on is if everyone calls them they would have to give in even when someone isn't in trouble. They figure when you're about six months behind then they know you mean business so they will work with you. By then its usually too late.

What b & a and pretty much all the others should do is lower the interest payment for EVERYONE. This way everyone with a job can make the monthly payments. B&A is just giving us all incentives to default and bk our debts.

Soon everyone alive will have to file bk just to pay for higher taxes and the hyper-inflated dollar that b&a and the govt caused.

[spidge]

One small step at a time.

I have been making small payments to my BK attorney for over a year, but have had a few calls slip in to me. On one store card I was able to settle for apx 60% and I was satisfied, but found a number of folks settling CC debt for much less. My problem is the same as anyone else I suppose, no money to settle with. After I settle my new tax bill, gained from hardship withdrawals considered income to pay the mortgage, I will start with the smallest debt and settle them when they work with me.
I had a call last year from a collector that started at 75% and I started at 20% and after a month of them sitting to stir what I offered they called back with a 30% offer. To bad they waited as I had the cash but settle with the first company that agreed to my terms. I could not make payments at that time so I was not able to accept with payments.
I know they are getting desperate, even BofA. I called them and they would not speak to me as they sold the debt but would not give me the new info. Luckely the new owner called me and offered my wife 30% on the ballance they had and she was actually kind of quick with them in that the original ballance was significantly lower. So they dropped to 20% without her even asking. We did not have any money again but this has motivated me to do the diligence to find who owns my debt and get them settled.
I am hoping to stay out of the courts all together.