I have 3 one is a $2500, $1000, and one is $600.
So far i've only use the 2500 limit one, I've haven't even activated the $1000 card, should I just closed that card account?
<...
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I am considering seeking legal action against a debt collection agency
called Westcott UK but i'd thought i'd see the opinion on the matter online
first and if you can help.
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icantbelieveimme
Can you call the credit cards companys and propose a settlement yourself?
I bet some cards would and some wouldnt
WHAT IS THE WORST THING THAT THEY CAN SAY?
NO
so what
even if they say no, you are in no worse of a situation then you were before you called.
I am sure that the laws have changed now but when my credit was bad I proposed a settlement and it was accepted. I told them that I was filing for bankruptcy and wanted to pay them since they were there for me when I needed them and they could get a piece of it or NOTHING>
they accepted the piece...
I owed 4k and they accepted 2500.
I dont know if that would work today since the bankruptcy laws changed.
but again
i would try
if they say no
it matters not
also
I tried to get a lower interest rate on my credit card and they turned me down
so I called bank of america and got a zero interest for 12 months transfer.
Old credit card company has been offering me all kinds of FREE stuff to come back
and all i tell them is to kiss my hiney~
tell them that you got some free offers to switch
that might work
I do wish I would have done that first as it might have saved me about 2oo bucks in interest payments that I had to make before I made up my mind to accept another offer
MOM KNOWS EVERYTHING
Yes you can. But you should try to get to a supervisor. The customer service people you get on the line at first don't have much authority to do that.
Dana Katherine
You can call and talk to them but they would probably want you to stick to their terms.
Sunidaze
I've never personally done that, but I have seen it recommended at various times.
Hima K
yes you can but they will give you high interest rates.
If you go with a debt settlemet company they will usually negotiate for LESS or NO interest rates. Your principal debt amount will also be reduced to around 30% to 70% depending on your credit companies.
Please check this website for further information
http://www.debtfreeafterall.com
dragonfire
sure
but do they have to take your offer
no
wizjp
Never hurts to try. Have a good reason and prepare to speak with a manager.
jasonm658
if they even accept you offer, it doesnt mean it will be clear on your credit report. they can put on your report that you settled for less than owed and how much of a loss they took.
SPIFIMAN1
Yes you can, as a matter of fact after my late wife passed away, I called several of our credit card companies and made settlements. Some were as little as 50%. What you need to make sure of is to get everything in writing and make sure that they agree not to report you as "Settled for less than full amount".
To achieve this you will have to talk to management, customer service doe's not have the power to make these decisions.
Bareasskmeagain
That would be the first option.
Maybe they would allow a longer term and slightly increase the rate. . .
Gertie
Absolutely you can make sure you get everything in writing. such as them keeping your credit in good standing this can be done. email me at fort_bragg_girl@yahoo.com and I will copy and paste a sample letter for this.
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