I am thinking of typing a letter to offer a settlement with Providian. I owe over $1000, only because of late fees. I only charged around $400 on my card. (It is now a charged off account)The rest is a long story. I want to settle and maybe try to negotiate something positive or neutral on my credit report. Anyone have tips on what I should write or offer? I would like to do this as quickly as possible. I don't want to mess things up by writing the wrong thing. Please advise. Thanks!
RE: Preparing to Offer Settlem How much are willing to settle? Lets say you can settle for 50%. Call or write them and offer the settlement in exchange that they delete the charge off and report the item as "settled in full" with a zero balance. This is still a negative listing, but it is better than a charge off or paid charge off. Now if you request the entire item deleted, be prepared to pay the "full" balance. Nordstrom Credit charged off my account and after eight months of negotiations, I paid 95% of the balance ($950). They agreed (in writing)to delete item. Start you negotiations now! Believe me, they will take your money. If you need more help email me.
RE: Preparing to Offer Settlem Let me emphasize what Earnest mentioned: GET ANY AGREEMENT/PROMISE IN WRITING. Let me repeat....IN WRITING. Verbal is absolutely worthless.
