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CC Settlement

October 26th, 2006 at 03:53 am

Got a call today...another one of my CC's has agreed to settle! Yes!! So, this was an over $7,000 credit card debt I had. They agreed to settle for approx. 60% of what I owe.....$4,434.06!!!

I am so excited about this since this is the card that the law office was calling me and threatening me over and over. Big Grin

I'll be making 3 payments of $1478.02 each. First payment is due end of this month, then end of November and end of December.

Now, along with that, I am almost done with making paymens on another CC that settled...Nov should be my last payment on that one...which means by January 2007 I will only have 1 CC to settle and pay off, plus my LB CC and what I owe Mums. Whew! Feels awesome!

Of course I don't have the $ I need to do this settlement in my account yet, so I am borrowing it from Mums. Which means what I owe her will raise considerably, but I'd so rather owe Mums than the CC companies!

2 Responses to “CC Settlement”

  1. yummy64 Says:
    1161831400

    Just make sure you don't send them a cent until they send you a letter saying that the amount they agreed to will pay the debt in full. No letter, no proof and I've heard of credit card companies saying one thing then claiming later they never said that.

  2. koppur Says:
    1161833824

    Thanks for the tip...I actually have a legal rep doing all that legwork for me, and they recieved the letter today...but I appreciate the advice! Smile

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