I have 3 unsecured accounts which I have been consistently late on and two are closed and one is in collections. I have been trying to pay these things off, however it seems like I'm just running in place while these accounts continue to screw my credit. I'm considering trying to settle with these companies and I'm wondering if anyone has had any luck settling and wants to share their story. These accts each average about 4 grand. I'm curious as to what percentaged I should try to settle for. I also have access to an attorney if that helps. Any responses are appreciated. Thanks.
I sent out ten settlement letters for deletion and got only one back telling me to get screwed . I was hoping for a little better results . Good luck anyway
Yeah ... Grantors have taken a rather hardline attitude toward those who want to settle. Seems they want 100% or nothing. So ... send them nothing. There has to be a way for you to increase the pressure on them to deal evenly with you. As long as your sending them money they have no motivation at all. If you stop for about 6 months and then try again you can tell them "either meet me half way or I may be forced to write it ALL off". By stopping all payments you are letting them know that your situation is getting worse not better, and if they believe that, they may be far more willing to work with you. Others will disagree, but that's what I'd do if they were mine.
ive sent out three settlement letters, no replies to any of them after 30 days. i was offering 100% on all of them. they are in business to screw people, not collect money.
