This is tied to another post of mine, but my question here could be beneficial to others. There are a few national CC companies that are very hard to work with. I do notice that there is an increased willingness to "listen" to what I have to say when I call them. I no longer have to speak over the top of their representatives. I am close to charge-off on several cards with a CC company. Is it better to negotiate after a charge-off with the CA assigned to attempt to collect? I'm not frightened by dealing with civil suits against me for debt, and that has already worked in my favor when dealing with several other creditors. (I've found that being proactive in these increasingly tough credit times is quite helpful and seems to shut down the majority of calls from creditors.) So, my question is, "There are some CC companies that will not work directly with debtors, but assign (not sell) the debt to big CA's. Is it possible that I cannot even negotiate until I have been assigned to a collection agency?"
IME, CITI and CHASE and MBNA and GE would not work with me and there are more I am sure that do not. GE sold to UNIFUDGE and case was DWP. Chase ended up paying ME : ) CITI we worked out a deal and I got more than they got.
BOA/MBNA did work with me and I have 1.7% interest on a 5-year payoff plan (7.5K originally, and now substantially down after 8 months.) There does not seem to be any rhyme nor reason to when someone will "work with you."
So true, so that is why you have to gather all the info given and then figure out what will work best for you. MBNA which is now BoA, would NOT do anything for me. I have found though, that if you get a person when you call the credit department and they seem like they are not going to work with you, call again and keep it up until you think you have one that is more sympathetic . Again, good luck! Woofer
