We've worked to get our debts under control and have gotten to the last 2 problem accounts. They're both credit cards. Discover & MBNA. They are both well above credit limit, due to over the limit fees, late fee and our own mismanagement (of course). They are up to date though. Are they likely to settle for a certain amount if I send a letter instead of doing this by phone? Probably just shooting in the dark, but thought it was worth asking. Not talking about a single payoff, but setting up an auto draft payment plan. ~$3600 on one, $4100 on the other. Well over the limits. Discover only wants to set up a 12 mos plan with checks held in advance. I don't like that for many reasons, including it's only for the over limit portion, among other reasons. MBNA has no options since I"m not behind, but they did drop the overlimit fee for me. Any other advice on this? Just looking for ideas.
