What is the name of your state?
Michigan
I assumed $47,000 in credit card debt 12 months ago as part of a divorce settlement. Despite the large monthly obligation of $700 per month, I've been able to make my payments on time, and thanks to some low interest rates, I've reduced the total amount owed to $40,000 in 1 years time.
Despite my repayment success, would a credit card company that I have substantial debt with be interested in settling for a lower payout? If so, is this typically for a 'lump sum' payment?
Trying to explore all my options on repaying this monstrous amount of debt.
Thanks,
bd
Michigan
I assumed $47,000 in credit card debt 12 months ago as part of a divorce settlement. Despite the large monthly obligation of $700 per month, I've been able to make my payments on time, and thanks to some low interest rates, I've reduced the total amount owed to $40,000 in 1 years time.
Despite my repayment success, would a credit card company that I have substantial debt with be interested in settling for a lower payout? If so, is this typically for a 'lump sum' payment?
Trying to explore all my options on repaying this monstrous amount of debt.
Thanks,
bd