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Discover wont settle because of recent Balance Transfer

Senior Contributor

Re: Discover wont settle because of recent Balance Transfer

Great advice aBOZO.
NFCU Platinum $7300- AMEX BCP $9000- PenFed Power $11000- Chase FU $11700- DCU Platinum $15000- Care Credit $15000- AMEX EDP $15000- NFCU CLOC $15000- Chase CSP $18900- Discover IT Miles $20000- Penfed Promise $25000- NFCU Go Rewards $27100- Venture $28750 **As of 12/9/17** EX- 756(16) TU- 775(15) EQ- 742(15) UTI 8%- Clean Files
Message 21 of 33
Established Contributor

Re: Discover wont settle because of recent Balance Transfer


fishbjc wrote:

Michelle, I think you are rockin!  You have a LOT going on and I am proud of you!  Taking care of your child is what is most important (congratulations for her)!

 

If it were ME, I would speak to TAKE CHARGE AMERICA.  They were awesome to me and they can help you work through this.  Hang onto that $6,000.  Speak to a counselor.  if you owe $20,000....your monthly payments will be around $350 for 5 years.   If you apply the 6k down, it drops significantly.

 

Or, there is bankruptcy....which would give you a fresh start and a new perspective.  It's your decision.  Do what is best for you and your child. 


 I think we need a better picture of her current financial picture before we suggest giving Discover $6,000 in one chunk.

 

 She has said that she's sold several times to raise the cash... that implies that she doesn't have much (if any) savings left.  If she has an income problem, I don't think giving up all of her cash is the best course to take.  It leaves her at the mercy of an unexpected car repair or medical bill that would ruin her.

 

 Michelle,

 

 Can you tell us what the current minimum payments are for your Discover and BOA cards?  What is the current amount past due on each card?  Normally we all would tell you not to pay only the minimum, but if you can take SOME of that cash and catch BOTH cards up to current, that will give you breathing room to make a real plan without worrying about being sued.

 

 More importantly, Stuff Happens.  Feeling terrible about it does no good...  You are actively trying to find a way to fix your situtation, and that's commendable!

 

 Read all of the advice and research each option carefully.  Depending on your income/expense situation and your prospects for improvement, maybe BK7 *IS* the best option.  Maybe its a debt consolidation program.

 

 It would be helpful if you could give us your total income and your total expenses (itemized) each month.  There are some REALLY intelligent people here that are wizards with finances and might be able to suggest another option that might be able to save your credit AND your peace of mind!

Cap1 Venture: $18K | Amex BCE: $15K | NFCU CR: $15K | Wells Fargo: $11K | Cap1 Savor: 10K | Cap1 QS: $8.5K | Barclays Rewards: $7.75K | Discover IT: $6K | Sportsman's Guide: $5.9K | NRA: $5.5K | Legacy Visa: $2.75K | Elan Plat: $2.3K | Cap1 PS: 2K | Cabela's: $1K

 

Current Scores: EQ: 725 | TU: 741 | EX: 708



 

Message 22 of 33
Visitor

Re: Discover wont settle because of recent Balance Transfer

Hi and thank you everyone for the great advice.  I have an approximate monthly take home income of $2800,  My house payment is $1217 and everything is escro. I have a vehicle payment of $490, daycare is $400/ month. and utilities are max $100 per month, I have a work cell phone so thats about it.  These are my only two debts.  I have a balance of B of A of $24000 and Discover of $13000.  I am able to pick up some OT, which is what I typically use for med bills/ co pays, spending money but I don't like to count ont hat all the time. 

 

Im afraid to file bankrupt cause I don't know what they can take.  I have nothing left they could take, I do own a horse trailer, that is paid for and a lawnmower.  Ugh...so frusterating.  I sold my horse, motorcycle and hot tub and paid off all my other debt.  I have a new vehicle and just recently  moved so I won't need credit for a little while as I have a mortgage that is 1 year old.

 

Thanks everyone again.

 

Message 23 of 33
Regular Contributor

Re: Discover wont settle because of recent Balance Transfer

Honestly.

Taking advice from the internet. Financial advice. And from a person with Bozo as a moniker.

 

This is rich, lol! LMAO!

 

Here’s my advice: Pay your bills. Always. 

 

Discover has every right to press their case and if you persist in this fashion I am certain you’ll face a judgement and subsequent garnishment, unless you weasel out of it. They also have the right to oppose at any bankruptcy hearing. You did a large BT then made like 2 payments and defaulted. Looks like fraud to me. Good luck.


Current Score: EQ753 TU769 EX778
Goal Score: 800's once again


Note to self: Garden. Must garden till 3rd Qtr, 2018
Message 24 of 33
Senior Contributor

Re: Discover wont settle because of recent Balance Transfer


zipperhead wrote:

Honestly.

Taking advice from the internet. Financial advice. And from a person with Bozo as a moniker.

 

This is rich, lol! LMAO!

 

Here’s my advice: Pay your bills. Always. 

 

Discover has every right to press their case and if you persist in this fashion I am certain you’ll face a judgement and subsequent garnishment, unless you weasel out of it. They also have the right to oppose at any bankruptcy hearing. You did a large BT then made like 2 payments and defaulted. Looks like fraud to me. Good luck.


+1 on BOZO.

NFCU Platinum $7300- AMEX BCP $9000- PenFed Power $11000- Chase FU $11700- DCU Platinum $15000- Care Credit $15000- AMEX EDP $15000- NFCU CLOC $15000- Chase CSP $18900- Discover IT Miles $20000- Penfed Promise $25000- NFCU Go Rewards $27100- Venture $28750 **As of 12/9/17** EX- 756(16) TU- 775(15) EQ- 742(15) UTI 8%- Clean Files
Message 25 of 33
New Contributor

Re: Discover wont settle because of recent Balance Transfer

What's tjhe APR on this card after the teaser expires, 20+%? If it is, they absolutely deserve to get stiffed. Sorry thats just true. If they kept everyones rate at 9.99% like my one chase card that is the only card I never defaulted on, because I beleive thats FAIR, then hardly anyone would let a card get charged off. 

Message 26 of 33
Senior Contributor

Re: Discover wont settle because of recent Balance Transfer


zipperhead wrote:

Honestly.

Taking advice from the internet. Financial advice. And from a person with Bozo as a moniker.

 

This is rich, lol! LMAO!

 

Here’s my advice: Pay your bills. Always. 

 

Discover has every right to press their case and if you persist in this fashion I am certain you’ll face a judgement and subsequent garnishment, unless you weasel out of it. They also have the right to oppose at any bankruptcy hearing. You did a large BT then made like 2 payments and defaulted. Looks like fraud to me. Good luck.


Michelle, I would try to keep at least your minimum payment due each month. It is true, you should always pay. Until you can't. Food and housing and your health should take priority over paying credit card debt.

 

The fraud threat (presumption) goes away if one files for BK after 90 days of charging something that looks fraudulent. A creditor can't use the presumption of fraud option 6 months down the line. A creditor can still cry fraud after 90 days, but they don't have the presumption advantage any longer. And presumption is not proof, it can be rebuttaled.

 

 

NFCU Platinum $7300- AMEX BCP $9000- PenFed Power $11000- Chase FU $11700- DCU Platinum $15000- Care Credit $15000- AMEX EDP $15000- NFCU CLOC $15000- Chase CSP $18900- Discover IT Miles $20000- Penfed Promise $25000- NFCU Go Rewards $27100- Venture $28750 **As of 12/9/17** EX- 756(16) TU- 775(15) EQ- 742(15) UTI 8%- Clean Files
Message 27 of 33
Senior Contributor

Re: Discover wont settle because of recent Balance Transfer


abozo84 wrote:

What's tjhe APR on this card after the teaser expires, 20+%? If it is, they absolutely deserve to get stiffed. Sorry thats just true. If they kept everyones rate at 9.99% like my one chase card that is the only card I never defaulted on, because I beleive thats FAIR, then hardly anyone would let a card get charged off. 


You are entitled to your opinion. 

 

But your advice is sickening. And the average human being would say you have ZERO credibility making a statement that they deserve to get stiffed if the interest rate is 20+%.

 

One knows what their rate will be after the "teaser" rate when signing up and accepting the terms.

NFCU Platinum $7300- AMEX BCP $9000- PenFed Power $11000- Chase FU $11700- DCU Platinum $15000- Care Credit $15000- AMEX EDP $15000- NFCU CLOC $15000- Chase CSP $18900- Discover IT Miles $20000- Penfed Promise $25000- NFCU Go Rewards $27100- Venture $28750 **As of 12/9/17** EX- 756(16) TU- 775(15) EQ- 742(15) UTI 8%- Clean Files
Message 28 of 33
Regular Contributor

Re: Discover wont settle because of recent Balance Transfer


donny10 wrote:

abozo84 wrote:

What's tjhe APR on this card after the teaser expires, 20+%? If it is, they absolutely deserve to get stiffed. Sorry thats just true. If they kept everyones rate at 9.99% like my one chase card that is the only card I never defaulted on, because I beleive thats FAIR, then hardly anyone would let a card get charged off. 


You are entitled to your opinion. 

 

But your advice is sickening. And the average human being would say you have ZERO credibility making a statement that they deserve to get stiffed if the interest rate is 20+%.

 

One knows what their rate will be after the "teaser" rate when signing up and accepting the terms.


If you've read his other posts/threads, this is pretty much SOP for abozo....basically rack up the charges and tell the lenders to eff off.

Message 29 of 33
Senior Contributor

Re: Discover wont settle because of recent Balance Transfer

Yeah, I just read how he stiffed 15 creditors recently.
NFCU Platinum $7300- AMEX BCP $9000- PenFed Power $11000- Chase FU $11700- DCU Platinum $15000- Care Credit $15000- AMEX EDP $15000- NFCU CLOC $15000- Chase CSP $18900- Discover IT Miles $20000- Penfed Promise $25000- NFCU Go Rewards $27100- Venture $28750 **As of 12/9/17** EX- 756(16) TU- 775(15) EQ- 742(15) UTI 8%- Clean Files
Message 30 of 33