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In repayment...need settlement strategy.


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Hello Everyone :D

Just joined the forum...and I'm grateful for the information I've been able to gather from here. If I knew then what I know now....

Anyway, I'm also trying to fix some of my credit card mistakes from the past.

One is a Discover card account that has been assigned to an "attorney in the practice of debt collection" since 2003. Total balance is about $3500 (cc late fees included). I've already paid back around $1200.

To make a long story short, I have been making monthly payments of $25 (all I can afford) since that time, mainly to stave off the calls/notices/etc. while trying to take care of other aspects of my life. That seemed to keep them at bay.

After I received the first notice, I had replied to them at that time that I could only afford $25/month with legitimate reasons why. They replied by saying that it wasn't enough, and then two months later sent me an offer to pay 60% of the balance in a lump sum. Well at that time I just didn't have that money...couldn't borrow it either....and was just really tired of the many calls...so I didn't reply to their settlement offer and continued to pay the $25/month that they didn't seem to complain about.

Now I'm thinking about writing to offer a settlement amount based on the amount I still owe. I have a strong feeling that they will refuse of course.

Would welcome any advice on this matter.

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