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trying to make a settlement with discover card

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I recently contacted Discover card and asked if they would agree to a settlement. I was told flat out we will not make any settlement. I am looking to make a settlement before I default and it goes to any delinquent status.

Does any one have experience with discover card I think I could use some help on this

Thanks

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I recently contacted Discover card and asked if they would agree to a settlement. I was told flat out we will not make any settlement. I am looking to make a settlement before I default and it goes to any delinquent status.

Does any one have experience with discover card I think I could use some help on this

Thanks

I do. I tried to settle with them and they wanted nothing to do with it. BUT I got them removed from my CR. HA HA at them.

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Discover won't talk settlement until you are at least three months delinquent.

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I am looking to make a settlement before I default and it goes to any delinquent status.

I might be off base here, but I don't think you're going to get anywhere with negotiating for a "settlement," as in paying less than you owe, before the account defaults. Meaning, if your account is in good standing and you're trying to avoid lates/delinquents/default, etc, they are not going to agree to take one penny less than what you owe. You might be able to get them to reduce your interest rate, or arrange for lower payments, but you'll want to make sure that this won't change their reporting status as well. If you can, try to work something out with them before the account goes delinquent. It's a whole lot easier to fix it now than waiting till it defaults and trying to remove the negative history.

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After 3-4 months of non-payment, Discover will send you a 40% settlement letter...unless there is something exceptional about your situation. They always refuse to talk settlement or hardship until the account is at least 3 months delinquent. The best pre-chargeoff settlement with Discover I have heard about is 30%.

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HOWEVER, tread carefully.....

Discover sues frequently, also....just a cautionary note.....

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Will Discover sue once they have offered the settlement and you take it?

How does taking a settlement with Discover affect your Credit Report and your FICO score?

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A settlement will usually be marked on your report as "paid in settlement for less than the full amount owed."

This, although it may not affect your score much, will not help you obtain future credit with those companies that review your report manually

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We need help with Zwicker and Associates. They represent Discover Card. We have tried complaing to Discover Card and have only be turned back over to Zwicker. Both Discover Card and Zwicker are saying they will not settle for less than the full amount. We offered 70% and the flat turned us down. We don't want sued but are trying to get the best deal possible. We are just now between 3-4 months past due. The one thing we were told was that Zwicker was only representing Discover Card. Discover Card says they still own the debt????? If any one has experience please let us know.

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I settled with Discover last year for $5400 on a $16000 account- $4000 of that was late fees/interest/over the limit fees. Don't ask me how this happened, they never even threatened with a suit. They called one day and I asked what the lowest amount was they could do if I paid in one lump and they gave me that total so I did it.

A friend of mine had her bank accounts frozen by Discover and so I was expecting the worst when it came to dealing with them but it didn't end up that way. Good luck!

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I recently contacted Discover card and asked if they would agree to a settlement. I was told flat out we will not make any settlement. I am looking to make a settlement before I default and it goes to any delinquent status.

Does any one have experience with discover card I think I could use some help on this

I dont understand it but Discover sent me a settlement letter for 30%.

I turned them down, I dont want to get a 1099 thats pretty much the only reason I turned them down.

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I dont understand it but Discover sent me a settlement letter for 30%.

I turned them down, I dont want to get a 1099 thats pretty much the only reason I turned them down.

lol, what?

A 1099 is better than having to pay 100% of the debt.

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AMEN!!!!!!!!!!!!!!!!! I am praying for Discover to send me a gift like a 30% settlement offer.. I'll deal with the 1099, I'm on the lifetime payment plan with the IRS anyway.

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Actually i was able to get paid in full, with no lateness and account payed as agreed when i settled with them. I did it over the phone, no problem. get on the phone with someone with a brain an dit will happen, just ask an get them to send you a letter.

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Shinyrims- what was your settlement? If you don't want to tell dollar amount how about percentage? Were you delinquent, was it charged off, was it in collections... details please

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I tried negotiating with Discover they offered a $2800 settlement for a $5850 balance. I refused the negotiation's as $1000+ of the charges where fraudulent and they were notified immediately when the charges were posted to my account. They never provided any proof of delivery or service. So they still show as a collection on my account.

I actually do owe them $800 dollars and have advised them I will never pay anything until they correct my account balance. They tried having Eskano's and Adler contact me and advised they would sue me. However when I advised Eskano & Adler the situation and provided them with my own payment history and account information. I told them provide proof of delivery or service on disputed charges and they referred me back to Discover. Nothing has happened for 2 years now...............I send a complaint letter to discover every now and then and they only reply with their $2800 settlement offer...........Bottom line is whatever you think, think again as they are in the business to make money so if your balance is actually charges they will not give you a break. If your balance is full of fees and interest they will offer you to pay out a percentage of the balance.

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