Bank of America - how do I cancel AFS agreement

[Guest red zora]

Wish I had found this forum sooner.

Here's the deal. I have $14000 in BoA CC debt. I can't make the minimum payments. I'm currently 2 months behind. Two weeks ago, I freaked out and signed up with AFS without doing much research. Is there a way to cancel the agreement without getting hit up with the fees?

What can I expect from BoA? Will they keep calling? How long before they turn it over to a third party?

[NYMatt]

What's AFS ?

[looksbothways]

American Fisheries Society?

Edit: Oh wait, a google of "AFS debt" gets me both American Financial Solutions and American Financial Services, which are

debt settlement companies. Is it one of them?

[Bigwoodystyl]

What can I expect from BoA? Will they keep calling? How long before they turn it over to a third party?

I don't know anything about AFS, but this is the wrong question.

You should be calling them. I would call and ask for their internal collections department BEFORE they turn it over. At the least they can probably lower your minimum payments, and/or put you on a fixed interest rate or hardship program.

If you can prove to an internal collections agent that you legitimately can't pay, you may be able to speak to their recovery department and/or settle for less than what you owe. Also, keeping it with the OC, while it won't guarantee a clean credit report, is almost always better than any 3rd party alternatives.

I, personally, would never advocate simply letting a credit card chargeoff and the subsequent collections process run its course. That is an almost guaranteed 7 year mess...

[axs377]

I would definately drop ANY debt consolidation company. I used credit solutions before I knew better and they totally screwed me! B of A is actually very easy to work with. Call them and they will set you up on a hardship program, or better yet offer a settlement.