Home
Public Forum
Credit Reports
Apply For Cards
Credit Directory
Credit Overview
Credit Problems
Credit News
International
Credit Glossary
Purchase Books
Credit Laws
Business Credit
Merchant Accts
   

Re: Settlement and buying a home


[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]

Posted by LadynRed (199.91.33.254) on January 23, 2003 at 17:56:10:

In Reply to: Re: Settlement and buying a home posted by switzer on January 23, 2003 at 15:43:10:

They MAY take a settlement offer before charge-off just to get the money. Mostly they want to re-age (like Sears) to get it current and they keep collecting interest. After its charged-off, settlements are easier to negotiate. They will stonewall you at the highest possible percentage, but the longer it goes, the more likely they'll take less. You just CANNOT do anything verbally, if you want to get anywher you HAVE to do it in writing.

BTW, interest may not stop after its charged-off. If the card agreement says 'their assigns' can continue to charge interest, it keeps accumulating, usually at an even higher rate !!


Follow Ups:



Post a Followup

Name:
E-Mail:

Subject:

Comments:

Optional Link URL:
Link Title:


[ Follow Ups ]   [ Post Followup ]   [ Credit Forum Index ]

 

    Top Of Page

  

Copyright © 1999-2002 Enkephalos Web Design