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Trying to settle!

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Established Member

Trying to settle!

I called Capital One and a debt collection firm (which has another Cap1 card).

 

Cap1 = $1365.80 will settle to $1024.35. I offered to pay $700 today but no budge.  Of course they offered to accept the $700 and set the rest up on a payment plan.

Machols & Johannes (Cap1 card) = $3458.44 will settle at $2766.75.  Didn't offer to pay anything today.

 

I'll continually try to get them lowered!  Wish me luck.


Starting Score: 521 EX; 553 TU; 508 EQ
Current Score: 521 EX; 553 TU; 508 EQ
Goal Score: 600


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Message 1 of 3
2 REPLIES 2
Valued Contributor

Re: Trying to settle!

Dont know your income and so forth. But for 700 dollars more on just the 1 collection. It would look a whole lot better paid than settled for less than owed on your reports. May take a bit longer to pay off. But will look so much better for future credit down the road.



My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC.
Message 2 of 3
Established Member

Re: Trying to settle!

As of right now, I wouldn't be able to pay the settlements or monthlys.  I can afford the 700 I offered, but I also have a civil suit against me right now for another card and also need to pay Chase. I'm trying to settle on two so I can at least pay monthly on the others.


Starting Score: 521 EX; 553 TU; 508 EQ
Current Score: 521 EX; 553 TU; 508 EQ
Goal Score: 600


Take the myFICO Fitness Challenge
Message 3 of 3