Re: How to negotiate reduced credit card debt

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Posted by: just me on 06/16/05:
In Reply to: How to negotiate reduced credit card debt posted by: Ann Little on June 16, 2005 at 07:32:43:
if I'm understanding this right here is what I would do...call them explain you cannot keep up the payments and see what they come up with...if they can't reduce this to what you want then stop payments on it..after so much time they will send thru a pay off option amount....take warning tho doing the last will ruin your credit repair. good luck.

: I am 3 years out of Ch 7 bankruptcy, my credit was repaired. Had massive relocation expenses to accept new job across country. Lost job. Not able to find work. Have Bank of America Visa with $10,000 debt. Someone is willing to pay off for me, but I want to reduce the balance. How to effectively negotiate this? Thank you!

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: if I'm understanding this right here is what I would do...call them explain you cannot keep up the payments and see what they come up with...if they can't reduce this to what you want then stop payments on it..after so much time they will send thru a pay off option amount....take warning tho doing the last will ruin your credit repair. good luck.

: 
: : I am 3 years out of Ch 7 bankruptcy, my credit was repaired.  Had massive relocation expenses to accept new job across country.  Lost job.  Not able to find work.  Have Bank of America Visa with $10,000 debt.  Someone is willing to pay off for me, but I want to reduce the balance.  How to effectively negotiate this?  Thank you!




 





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