Re: Reasonable rate for settlement
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by observer
(205.188.209.12) on July 27, 2002 at 18:09:51:
In Reply to: Reasonable rate for settlement posted by John M. on July 27, 2002 at 17:54:17:
Ever stop to think they may not want to settle for less? You are current on your payments. They won't even discuss a settlement until your are at least 90 days late. They will then demand all sorts of financial information before they will negoiate. If they feel you can pay, Chase and Fleet will more then likely sue. If you legitmately can't pay, you can probably get a settlement anywhere from 35% to 50% and a settled collection notation on your credit report. If there is any way on earth you can stay current you'll be miles ahead of the curve.
Follow Ups:
Post a Followup
|
