Jump to content

I am taking over negotiations, please help


groundzero
 Share

Recommended Posts

I had hired a lawyer to settle and repair my credit but after 7 months he has done absolutely nothing and has not even notified the creditors that he was repesenting me in the matter, so I have fired him. I have read alot of information on the repair and settle option and I am going to go that angle but I need some advice. I am settling my wifes accounts as well as my own. She has a credit card account with MBNA that is ready to be charged off and they have called and offered a $2700 settlement. I am going to accept the offer pending a favorable credit rating for the account. The account was opened in Las Vegas but we now live in Kentucky. The outstanding balance on the credit card is $11,500 + addiditonal fees for late payment and intrest increase. I know that this is a good offer but I am not sure how to ensure that I keep the deal loophole free and that I am ensured that the account is paid in full and the credit rating is restored to paid in full or account closed paid in full. I know that I have to get the offer in writing from them and then respond to the offer via certified mail. I also know that I will send the payment via money order and keep all of my receipts and copies of the letter that I send them. Is there anything else that you can help me out with. Is this even the right process? Thank you for your help.

Link to comment
Share on other sites

I just received a call from MBNA to settle the account and told them that I was willing to settle the account for the $2700 but including in the settlement offer I nedded the account to state Paid in Full or Account Closed - Paid in Full. He stated that was impossible. I told him that I had several sources that stated otherwise. Needless to say he tried to get me on a payement plan and convince me that a settled account was not negitive to the credit report. I told him that I had $3000 to spend and that someone would negotiate on my terms. He told me that the debt would charge off in 4 days if I did not settled before then. Is there anything I should do before that time and do you have any other suggestions. Once again thank you.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.