Re: follow-up to CAK

Posted by CAK (66.140.213.119) on November 22, 2003 at 20:18:18:

In Reply to: Re: follow-up to CAK posted by WhyBother on November 22, 2003 at 16:29:29:

Most people don't have that kind of monthly money to settle debts with. I believe it would be to your advantage to go with the settlement option such as I suggested in my previous posts and you seemed to agree with. You should be able to reduce that 70,000.00 down to 20 or 30k and shorten your time period to 2 years if you are focused. If I could save 40 or 50k in 2 years, I could be really focused. When you settle your first one, you'll know what I mean. If done right at the end of this, your CR will be clean also.
You need to initiate the settlement process by sending out your settlement offers and see who responds and who doesn't. The CA's that don't respond will probably be passing it on to the next CA. Each time your accounts are passed on increases your chances of a low settlement offer being accepted. Start your settlement offers at a discount of 90% and see what happens. Make the the CA's believe that this is all the money you have to deal with to settle the debt. Tell them that you believe that at least one of the many CC Debts that you have will accept your offer. Do not type up your offer or use big words. Hand write everything. Make your offer of settlement very simple and to the point.

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