Wells Fargo settlement offer

[Anonymous]

I have a account with Wells Fargo that was charged off about 2.5 years ago. I recently received a settlement letter from them and I can't afford the terms but I can make payments for $100 monthly. Do you think they would accept a least that monthly? Do you think if I ignore this it will be sent to collections?

[Anonymous]

How much was charged off?  What were the terms they sent you?

It's likely to go to collections if it hadn't already.

[Anonymous]

Terms are 60% of the debt. They still own the debt and there is no collection thus far from Wells Fargo on my reports.

[Anonymous]

Does anyone think if I set up a payment plan it would stop it from being sent to collections?

[Anonymous]

I do

[Anonymous]

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@Anonymous wrote:
Does anyone think if I set up a payment plan it would stop it from being sent to collections?

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Yes, it will.