• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Want to negotiate a cash settlement with CC company

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

mkathyf

Member
What is the name of your state (only U.S. law)?
Ohio.
My fault. Yes. I ran my credit card to a high amount. (over the past 5 years). (Anyway, for the past 3 years I have tried to get the cc company to lower my interest rate...but they wouldn't.
Finally, the cc company agreed to put me on a 5 year plan. no finance charges, no late fees, etc. $390.00/month. ( I now owe around $18,000; which @$10,000 is accrued finance charges.)
For the past 5 months, I have been trying to negotiate a cash settlement/foregiveness, of $9,000.00. I get the run-around. (call next month, and you will probably qualify...etc)
But, they won't. They said I have been paying on time and therefore I do not qualify....my account is up to date.
The only thing I can do is to stop paying.
So...tell me the worst case scenario, if I stop paying. I don't want to. I would prefer to do a cash settlement

Also, the card is in my name only...not my husband. If I stop paying, can they go after him to try to collect?
 



Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top