US bank debt settlement

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i have unsecured line of credit at 8100 past due 95 days.

I have 2 other cc's with them at about 60 days, but focus on the one 95 first.

I have been in contact with them every week or two to give them the same sob story how no assets, unemployed, rent went up etc. I was paying but than stopped due to hardships. They said chargeoff at around 6 months and can call to start setttlement at around 90 plus days.

Well fast forward after hearing that over and over, now they are saying i won't qualify for settlement until 1 yr after last purchase which was in feb of 2012..WHAT IS THAT? is this just a trick, and if so not sure what this accomplishes on their end when i told them i could borrow some money after i move in oct and possibly arrange something. Has anyone had this happen, is this just a mindgame and why are they all the sudden changing everything when i can finally start negotiation?

Do i have to wait to start this whole thing now until feb, i hardly think they will just sit back until than and do nothing. I really wanted to try to put this behind me, i was going to start it off at 90 and before chargeoff work towards a 10-20 percent settlement.

Now i am panicking about this yr thing, they said i won't qualify until 1 yr (feb 2013) to even qualify for a settlement. Any thoughts or advice? I find it hard to believe if they know i cant make monthly payments they will wait that long, or why they would.

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You can try to negotiate with that bank, by sending them settlement offers with the time frame that you need to replay all your debts. This works with everyone if your previous record with the band is good. You can surely get a good amount of time and even somewhat lower your debt amount, so that you can get that precious time to repay all your debts after bankruptcy.

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