Thought this might be of help to some folks.
I have two pretty big accounts that I defaulted on with AMEX, both just over $10K. I have been stressing out about them as over the summer NCO and Nationwide came at me agressively, but I managed to set up payment plans that are now expiring.
Got a call from NCO I think it was (but they use a different name when they call) and it was amazing how nice the person was... not much pressure... said they realize that times are tough with the economy... offered the CARE Program... one sort of big payment at the end of the month (just over $700) and then $278 a month for the rest of the year. The CARE Program. Maybe I could have talked them down lower on the initial payment which I will have to get creative to make, but I was happy to have that one pinned down for at least a year so I can focus on making money to get out of this hole faster... my goal is to cut this debt I got myself into by between 50 and 100% this year by making extra payments, etc...
So the CARE Program... bring it up when they call you!
