https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Negotiating-To-Pay-Half-Of-CC-Balance-Closed-Accts/m-p/616453#M91738 <BLOCKQUOTE><HR /><a href="https://ficoforums.myfico.com/t5/user/viewprofilepage/user-id/196672">@AdPray123</a> wrote:<BR /><P>Hi,</P><P>&nbsp;</P><P>I now have 3 closed credit card accounts that still have balances. (2 from my past and 1 recently because the bank flopped due to the economy).&nbsp; I want to give the credit card companies half of the outstanding balances for them to take care of the other half. Is this negotiating possible? I faintly remember years ago MBNA did this for me but it was a settlement situation.&nbsp; Any advice would be appreciated.&nbsp; Its almost 2010 and I am tired of looking at these bills!</P><HR /></BLOCKQUOTE><P><FONT face="comic sans ms,sans-serif" size="4">How much are the balances? </FONT></P> Tue, 05 Jan 2010 00:00:44 GMT MarineVietVet 2010-01-05T00:00:44Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Negotiating-To-Pay-Half-Of-CC-Balance-Closed-Accts/m-p/613226#M91131 <P>Hi,</P><P>&nbsp;</P><P>I now have 3 closed credit card accounts that still have balances. (2 from my past and 1 recently because the bank flopped due to the economy).&nbsp; I want to give the credit card companies half of the outstanding balances for them to take care of the other half. Is this negotiating possible? I faintly remember years ago MBNA did this for me but it was a settlement situation.&nbsp; Any advice would be appreciated.&nbsp; Its almost 2010 and I am tired of looking at these bills!</P> Fri, 25 Dec 2009 10:30:53 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Negotiating-To-Pay-Half-Of-CC-Balance-Closed-Accts/m-p/613226#M91131 AdPray123 2009-12-25T10:30:53Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Negotiating-To-Pay-Half-Of-CC-Balance-Closed-Accts/m-p/613240#M91132 You'll wind up taking a serious score beating, but it can be done. Fri, 25 Dec 2009 16:06:25 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Negotiating-To-Pay-Half-Of-CC-Balance-Closed-Accts/m-p/613240#M91132 llecs 2009-12-25T16:06:25Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Negotiating-To-Pay-Half-Of-CC-Balance-Closed-Accts/m-p/613716#M91221 Yes, with cash-in-hand I was able to successly negociate 20-25% of the balance due - but the previous poster was correct - your credit score will take a huge hit &amp; even though you will show a $0 balance, they can report you as a CO each month. Mon, 28 Dec 2009 01:23:42 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Negotiating-To-Pay-Half-Of-CC-Balance-Closed-Accts/m-p/613716#M91221 QueenBean 2009-12-28T01:23:42Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Negotiating-To-Pay-Half-Of-CC-Balance-Closed-Accts/m-p/616448#M91737 Oh I didn't know they would mark my account as a CO or it will reduce my score if my account is already closed?&nbsp; I really don't want my score to be affected negatively. Is there a way they will take a lower payment without reducing my score or marking it negatively? Looks like I would be better off paying it in full<img id="smileysad" class="emoticon emoticon-smileysad" src="https://ficoforums.myfico.com/i/smilies/16x16_smiley-sad.gif" alt="Smiley Sad" title="Smiley Sad" /> (oh no) Mon, 04 Jan 2010 23:35:08 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Negotiating-To-Pay-Half-Of-CC-Balance-Closed-Accts/m-p/616448#M91737 AdPray123 2010-01-04T23:35:08Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Negotiating-To-Pay-Half-Of-CC-Balance-Closed-Accts/m-p/616453#M91738 <BLOCKQUOTE><HR /><a href="https://ficoforums.myfico.com/t5/user/viewprofilepage/user-id/196672">@AdPray123</a> wrote:<BR /><P>Hi,</P><P>&nbsp;</P><P>I now have 3 closed credit card accounts that still have balances. (2 from my past and 1 recently because the bank flopped due to the economy).&nbsp; I want to give the credit card companies half of the outstanding balances for them to take care of the other half. Is this negotiating possible? I faintly remember years ago MBNA did this for me but it was a settlement situation.&nbsp; Any advice would be appreciated.&nbsp; Its almost 2010 and I am tired of looking at these bills!</P><HR /></BLOCKQUOTE><P><FONT face="comic sans ms,sans-serif" size="4">How much are the balances? </FONT></P> Tue, 05 Jan 2010 00:00:44 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Negotiating-To-Pay-Half-Of-CC-Balance-Closed-Accts/m-p/616453#M91738 MarineVietVet 2010-01-05T00:00:44Z