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Recomendation on Dealing with these creditors

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Recomendation on Dealing with these creditors

Hello,

 

I am looking to settle out 3 remaining creditors. I was wondering if anyone could provide any pointers on any of them and possible percentages they accept for settlement.

Discover Bank Personal Loans (Rausch Strum), Original Balance $19112.35, Goal Settlement $3825, Currently Paying $50 per month no settlement agreement.

Barclays Bank Deleware (Northstar), Origianl Balance $23137.93, Goal Settlement $4630.00, Currently Paying $50 per month no settlement agreement.

Blispay, Original Balance $10013.00, Goal Settlement $2000, No payments or Arrangements.

 

Below I have listed my currently settled and negotiated debts to inform people of the percentages and settlements that are accepted by these companies.

 

Currently Settled Creditors (Informative)

American Express (NCI), Original Balance 2780.77, Settled for $1252.00

Synchrony Bank Amazon Store Card, Original Balance $4928.06, Settled for $ 1724.82

Synchrony Bank PayPal MC, Original Balance $8569.78, Settled for $2999.42

Capital One, Original Balance $5547.52, Settled for $2940.19 (Payment Arrangements 8 Months)

Citi Diamond Preferred (McCarthy, Burgess, Wolff), Original Balance $3418.59, Settled for $1710

Discover Bank (Zwicker & Associates, P.C.), Original Balance $6663.82, Settled for $4000 (Filed claim with county for suit, settled before being served.)

Chase Card Services, Original Balance $20470.02, Settled for $7452 (Payment Arrangements 12 Months)

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Community Leader
Mega Contributor

Re: Recomendation on Dealing with these creditors


@Credit_Sleuth wrote:

Hello,

 

I am looking to settle out 3 remaining creditors. I was wondering if anyone could provide any pointers on any of them and possible percentages they accept for settlement.

Discover Bank Personal Loans (Rausch Strum), Original Balance $19112.35, Goal Settlement $3825, Currently Paying $50 per month no settlement agreement.

Barclays Bank Deleware (Northstar), Origianl Balance $23137.93, Goal Settlement $4630.00, Currently Paying $50 per month no settlement agreement.

Blispay, Original Balance $10013.00, Goal Settlement $2000, No payments or Arrangements.

 

Below I have listed my currently settled and negotiated debts to inform people of the percentages and settlements that are accepted by these companies.

 

Currently Settled Creditors (Informative)

American Express (NCI), Original Balance 2780.77, Settled for $1252.00

Synchrony Bank Amazon Store Card, Original Balance $4928.06, Settled for $ 1724.82

Synchrony Bank PayPal MC, Original Balance $8569.78, Settled for $2999.42

Capital One, Original Balance $5547.52, Settled for $2940.19 (Payment Arrangements 8 Months)

Citi Diamond Preferred (McCarthy, Burgess, Wolff), Original Balance $3418.59, Settled for $1710

Discover Bank (Zwicker & Associates, P.C.), Original Balance $6663.82, Settled for $4000 (Filed claim with county for suit, settled before being served.)

Chase Card Services, Original Balance $20470.02, Settled for $7452 (Payment Arrangements 12 Months)


Hi and welcome to the forums 

 

Settlement amount will depend on age of account and whomever currently holds the debt.  Older debt is usually easier to settle for lower amount.  

Start on low end and see what they say. 

EX 759 EQ 774 TU 753


Message 2 of 3
Moderator

Re: Recomendation on Dealing with these creditors

I would first go after the ones you are not currently making any payments on. You also need to know the DoFD of these accounts and if the SOL is reset by making a payment or agreeing to payment arrangements. As Remedios has said the older the accounts the better for making settlements.

 

A rule of thumb is anything inside the SOL 75% of what is owed, outside SOL and still reportable 50% and anything past SOL and not reportable 20-30%

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

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