Credit Card Settlement Notes

In each attempt to settle unsecured debts (typically credit cards) remember that the credit card companies want to first hold you to the terms of the agreement, but as time goes on they become more and more willing to settle. I have found that settling has to be first preceded by missing payments and typically the best time to try to settle is after the account is 90 days late and less than 180 days late.  The settlement will normally require a lump sum payment and not simply renegotiating the payment arrangements so you really need to have available funds to attempt a settlement. If you don’t have funds to do a lump sum settlement then another option is the use of the bankruptcy court to discharge the debt. 810-245-0813