To Susanna

Ditto - I would love to know what you decided. I must say your thread(s) forced all CreditNetters to put on are thinking caps and come up with every possible angle. We want to make sure you are OK now and support you and the decision you made!

 

I am curious too! I know there was a lot of agony over this decision for you!!

Hope it all worked out well!

G

 

<bump>

 

Guy's

Well maybe she's taking a break, nobody could blame her. I know she struggled with this one.

If I'm not mistaken she agreed to settle the 20 grand for a total of 8 which she was able to borrow.

They agreed to change her R9 to an R5.

I think she did a great job and fought like hell to got the best deal she could get. For what more could we ask?

 

I think she left out the best offer she got - MBNA had offered her 0% interest for two years, while she paid the debt off, then they would most likely have made it a current account and reopened it. I think she didn't want it because her hubby's job was too iffy. But it was a heck of a deal.

 

This is my first time on the board since March -- I am so sorry I wasn't able to answer slayer's question and help him.
Just for the record, I settled for 8K and it is reported as an R9 (they would not budge there). I got everything in writing and faxed to me. MBNA offered to have the check picked up by FedEx and then they stuck me with the bill. Nice, huh? I have no doubt that had I not settled, MBNA would have sued and gotten a judgement. They will not walk away from 20K. So, yes, my credit is trashed for awhile, but I can sleep at night and that is easily worth the 8K I paid them.
If my husband's job were secure at the time and if my consulting practice had steady income, I would have gone for the 0% deal, but it was too big a risk. Just today, they laid off 25% of the staff at my husband's office... We live in uncertain times.
This board is really wonderful with caring, intelligent people. I am forever grateful for your help...
Susanna