http://smallbusinessmerchantaccounts.org/what-is-the-process-of-settling-credit-card-debt.htm Mon, 13 Feb 2012 23:06:58 +0000 http://wordpress.org/?v=2.7.1 hourly 1 http://smallbusinessmerchantaccounts.org/what-is-the-process-of-settling-credit-card-debt.htm/comment-page-1#comment-950 lilmissdisorganised Sat, 29 Aug 2009 06:48:10 +0000 http://smallbusinessmerchantaccounts.org/what-is-the-process-of-settling-credit-card-debt.htm#comment-950 I have a couple of credit cards that are in collections. I have been paying them for a couple of years and one of them wrote to me recently offering me the chance to settle the account by just paying 50% of the outstanding amount. I couldn't afford it so I didn't respond, then a month or so later I received another letter off them offering me the chance to settle by just paying a third of the outstanding amount! My advice would be to phone up and offer them a third of what you owe, and if they refuse then ask them what they would be prepared to settle at. Haggle with them and tell them that you can pay it within 10 days if they bring it down. Once they agree, ask for a written confirmation from them before you make the payment. I have a couple of credit cards that are in collections. I have been paying them for a couple of years and one of them wrote to me recently offering me the chance to settle the account by just paying 50% of the outstanding amount. I couldn’t afford it so I didn’t respond, then a month or so later I received another letter off them offering me the chance to settle by just paying a third of the outstanding amount! My advice would be to phone up and offer them a third of what you owe, and if they refuse then ask them what they would be prepared to settle at. Haggle with them and tell them that you can pay it within 10 days if they bring it down. Once they agree, ask for a written confirmation from them before you make the payment.

]]> http://smallbusinessmerchantaccounts.org/what-is-the-process-of-settling-credit-card-debt.htm/comment-page-1#comment-951 Gone fishin' Sat, 29 Aug 2009 06:48:10 +0000 http://smallbusinessmerchantaccounts.org/what-is-the-process-of-settling-credit-card-debt.htm#comment-951 Why not go through someone who does debt resolution. or go to the bank the card was issued. For any payments always use a check so there is a paper trace. Never do anything with cash that you may have to prove later. Why not go through someone who does debt resolution. or go to the bank the card was issued.
For any payments always use a check so there is a paper trace. Never do anything with cash that you may have to prove later.

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