newyork81 Posted May 15, 2007 Report Share Posted May 15, 2007 Hello,I am 200+ days overdue on my discover card with @ $10,000 balance.I have never answered a call from them till last week in which they wanted to make an appointment to discuss a "payment plan"....I believe the account is about to be charged off and so they are making a last ditch effort to get a hold of me. Am I in a position to ask for a settlement? If so, how do I approach the topic? What would be better... set up a payment plan or try and negotiate a settlement?If I reach a figure to settle at... how long will I have to pay it?I want to call them today, please any advice would be greatly appreciated!Thanks,David, New York Link to comment Share on other sites More sharing options...
redbank Posted May 15, 2007 Report Share Posted May 15, 2007 I am not positive on this, but you need to be very careful when talking on the phone...Hopefully someone else will add to this, but I think you might want to contact them in writing and ask for all correspondence to be in writing.10k is a large amount (at least to me it is, lol) and I would hate to lead you in the wrong direction. I just wanted to post now though to keep you from calling them and making a mistake.Good luckAnd you might wanna do a search for settlement and see what others have gone through. Link to comment Share on other sites More sharing options...
newyork81 Posted May 15, 2007 Author Report Share Posted May 15, 2007 I am not positive on this, but you need to be very careful when talking on the phone...Hopefully someone else will add to this, but I think you might want to contact them in writing and ask for all correspondence to be in writing.10k is a large amount (at least to me it is, lol) and I would hate to lead you in the wrong direction. I just wanted to post now though to keep you from calling them and making a mistake.Good luckAnd you might wanna do a search for settlement and see what others have gone through.This site actually says it IS ok to call original credit card company as they are highly regulated. But to NOT call once accounts go to collection agency.David Link to comment Share on other sites More sharing options...
TheRoadBack Posted May 15, 2007 Report Share Posted May 15, 2007 if it hasnt been charged off yet try offering 25 cents on the dollar. I did this right before chargeoff with mbna and they didn't settle for 25 but they did for 30 cents on the $. And in my opinion it is ok to speak with the oc on the phone but know what you are trying to accomplish before you dial. Good luck! Link to comment Share on other sites More sharing options...
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