TAG | Late Fees
16
Is it OK to pay a settlement amount on credit card debt?
1 Comment · Posted by sanbank in Credit Card Debt Settlement
I am paying off my cards which are over 5 yrs old, and they’re giving me settlement amnts to pay them off. Most of the balance is late fees, my credit is slowly going up. Am I going to have problems in the future getting credit if they ve seen that even though I paid all my debt, I chose to make a stlmnt amount to close it? Anyone in similar boat?
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15
Question about credit card debt settlement.?
1 Comment · Posted by sanbank in Credit Card Debt Settlement
My fiance has a Bank of America credit card. There’s a 00 limit on the card but after finance charges, late fees etc, the debt is now at 00. She went 120 days late on payments and was called by Card Services, they say they’re a collection division of Bank of America. They offered her settlement in the amount of 00 rather than the 00 on the card. She thinks its a deal because half the debt is "vanishing". We checked her credit report and she isn’t listed as being in collections just extremely late on pay. I argued with her saying that the settlement is bad and that it will affect her credit for years to come but she thinks its a good plan. We’re planning on looking for a house in a year and a half and i don’t want this to affect our buying power. So how does settlement effect her credit? Does paying off the full amount rather than settling look better on your credit report even though the account is past due? What should we do, who’s right here?
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bank of america · bank of america credit card · Collections · credit report · fiance · finance charges · Late Fees
7
How can I negotiate my own lump sum credit card debt settlement?
1 Comment · Posted by sanbank in Credit Card Debt Settlement
I owe a large amount on my credit card and have not made a payment in sometime. I now have a lump sum of money and wanted to see if the cc company would negotiate on the amount owed. Much of that amount is late fees. Can anyone help me?
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cc company · credit card · Late Fees · lump sum · sum of money
18
Is it OK to pay a settlement amount on credit card debt?
10 Comments · Posted by sanbank in Credit
I am paying off my cards which are over 5 yrs old, and they’re giving me settlement amnts to pay them off. Most of the balance is late fees, my credit is slowly going up. Am I going to have problems in the future getting credit if they ve seen that even though I paid all my debt, I chose to make a stlmnt amount to close it? Anyone in similar boat?
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