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Originally Posted by CreditCrisis  Damn. ok. but on a non bk credit card they will be more inclined to accept a settlement right? |
Yes. They are more likely to settle for less since they can no longer collect on it. Although.......just an FYI.......if it's an OC, it might be more difficult. I have had a PITA OC acct that is 6 years old and they are STILL rude every time I try to settle and tell them I will pay them but only for $xxx amount.......the lady just says "no, you need to pay the full amount"......whatever. So I don't know if that's just my bad luck......lol....or it's this particular stubborn company.
It NEVER hurts to try to settle for less.
Just remember that if they do agree to settle for less..........GET IT IN WRITING.
And always be sure to add a clause that states that they will not transfer or sell the remaining balance to any 3rd party collectors.