topic Re: Comenity settle in Rebuilding Your Credit

Comenity settle

Anonymous — Thu, 27 Dec 2018 16:49:40 GMT

Hi I’m new here. I have 2 Comenity charge offs both cards were closed in January 2017. I have been making monthly payments. My question is can I ask them to settle for less to clear my debt?

Victoria secret owe $718.00
Express owe $160.00

Re: Comenity settle

gdale6 — Fri, 28 Dec 2018 22:49:43 GMT

Welcome to the board. You can always ask but the fact that you have been making monthly payments to them reduces the chance of a settlement offer from them. If you have lost an income then you might want to tell them that to increase your odds.

Re: Comenity settle

Harmony12 — Mon, 31 Dec 2018 19:13:02 GMT

If you are paying the OC (comenity) and not a CA, then once its paid you should be back in grace with them. This will allow you to get another comenity card if needed.

Re: Comenity settle

RobertEG — Mon, 31 Dec 2018 21:15:38 GMT

If you are making monthly payments, then that will likely be resulting in "reset" of the SOL with each payment, resulting in their continued ability to bring civil action for most, if not all, of the total SOL period for debt in your state.

That increases their leverage should then wish to continue to attempt collection of the entire debt, and thus might result in reluctance to settle for less.

On the other hand, if you now offer to send immediate settlement, that bird in the hand might be an incentive to accept a payment for less, even though they retain ability to bring civil action.

It is a tradeoff on their part.

Make them the offer.......