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No one seems to want to negotiate settlement....


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Three accounts coming close to charge off and the following won't budge at all:

Citi - 45% - March 22nd CO

Chase - 50% - March 29th CO

Capital One - 50% - March 29th

I will have the funds mid march to settle all of them at about 30% each, but none of them will budge from the above. Citi has said the term pre-litiagtion so many times my head hurts. Chase and Capital One are extremely nice about it, but won't do anything. I have countered at just below 30% for each, but no dice.

Any words of wisdom or does it seem that the banks have changed their stance? Should I just let them go to charge off to see if I can settle at a lower cost?


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IMHO, take the Cap1 deal.

They are notorious to file suit for a lot less then that.

I have heard 50% with them is aout as good as it gets, although some report 40%, I have never seen anything lower.


Myself, I did a 6k Cap1 business for 50% fairly easy.

Just did my wife 8k for 65%. Have not paid in a year, it was with them the whole time, could never get them below 75% until last week, I didnt want to push our luck.

Did 4 with Chase, 2 at 30% and another 2 at 35%. Sears Citi was 40% on 10k

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Wow, settling debts can actually be done. Thanks for these threads that show details of settlement. Now here's mine:

Armed with knowledge from this site: I went ahead and played negotiator on my own behalf with my credit card creditors. There were five of them, only two are left and they are being difficult.

The most urgent is a 3300 offer to settle on a 5300 account. They have already brought suit and this would be an out of court settlement. I'm thinking I should take it.

Second most urgent, is a 9-10k account with same JDB company. Midland Funding LLC. They want the full amount now. After offering a one-time, one-day-only offer for 2500.00 which I would have jumped at if it were in writing. They didnt send the letter on time and it arrived late after the payment due deadline.

The rest were easy, can't believe I'll say it, polite and mostly painless,

I settled one for 25% percent, NCI for Cap one.

25 % Asset Acceptance, for first heritage usa/chase

40% NCO for Capital One.

The balances were snowballing. I had to. My highest balance card remains 10k on a BofA/Midland that they wont budge on and are demanding full amount...not to mention Midland already suing me for 5000 and offering to settle for 3300 (~60%) out of court.

I'll take it if they can get their darn settlement offer to me in the mail before the deadline date passes! I'm going to call the supervisor of the bonehead that did this and ask for another chance to settle. I'm going to dangle anywhere from a 20-40% lump sum settlement offer.

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not sure what the difference is between not being able to negotiate a settlement, and then they sue and get a judgement for full amount, im thinking to rush into a 60% settlement (its what they offer) for a debt they are suing me on, its better than judgement which is 20 years of garnishment possibly...

5k debt lawsuit from midland for bofa account, they want 3k.

and they own another for 9k and i got them to write a letter to accept 2.5k for it, but they wont honor it now and are asking for the full amount WTF?!

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