I want advise on how to negotiate with a credit card company, so I can pay off my debt all by myself

I have a credit card with the amount of $3,057 on it through Bank of America. The account has been closed and written off, and has been sold to 2 different companys. I closed the account about 4 years ago. I want 2 make monthly payments but after Bank of America sold it to these agencies, they have been so difficult to work with. People say its only $3,000. in debt...thats nothing, but believe me...$3,000 and $10,000 are like the same because I cant get credit cards, student loans, or even think about buying a home. So I am at a total stand still in life right now over this. The current lender tells me that they need a minimum of $300 a month but I told them the most I could do was $200. They say if you do anything under $300 a month u have 2 have a big lump sum of money to offer...than he was being real pushy about my income tax return, and other personal information....So any help on negotiating with them...or any other info. on getting me outta this mess would b so greatly aprecit

I want advise on how to negotiate with a credit card company, so I can pay off my debt all by myself.?

I think that you have a point. They know people are getting their tax returns and try to preasure people to send that money to them. They are nasty. I was once called a dead beat debter by one along with a swear word. Now I%26#039;m the one laughing because I was able to rebound. In two years after I paid my collections I bought my dream home.

Tell them this is what I have and if you%26#039;re not willing to work with me I will go to the next creditor and pay them instead, even if that%26#039;s not true. Be careful sometimes they might be looking at your credit report and know what you owe from creditors. You would be surprised how the tune changes. The collection agencies pay a small portion of the actual debt from the credit card companies. They are trying to settle high with you so they can make the most profit possible and to off set the accounts they can%26#039;t collect on. The success of any debt collector at his or her job is to settle as many situations as possible, otherwise they look bad to their employer. Ask to speak to the manager like you would if you were buying a car to get a better deal.

If you have dreams of buying a home you need to get new credit cards. This is how I got my house. 3 - 5 credit accounts always paid on time. I know you said no one would give you credit, but you can start by getting a card like Orchard bank. I applied when I was in a worse situation than you were in and I got a Orchard Silver card. I thought I would get their secured card, but they offered me a card that was unsecurred and the only fee I had to pay was the annual fee. It was only a 300.00 limit but I just needed something to show positive credit history again. There are other cards that also help people in your situation. You need to start to rebuild now. It%26#039;s a gradual process.

Here are some other tips. Never use more then 40% of the credit limits on each card. This way you don%26#039;t look dependent on credit cards. Lenders do not want to see maxed out cards on your credit report. Limit the amount of times your credit report is pulled because that will also lower your score. I know you can do this because I did. Where you are in your life right now is only a temporary situation. Here is a site where you can get secured and unsecured credit cards. http://www.creditfast.com

I want advise on how to negotiate with a credit card company, so I can pay off my debt all by myself.?

send in the 200 if they take it they have already made an agreement with you. send a letter stating this is what you will pay if they cash it they have entered an agreement. I always send money orders that way they wont take out my personal accounts illegally.

I want advise on how to negotiate with a credit card company, so I can pay off my debt all by myself.?

I dont know how helpful you find this, but I have worked as debt collector for BOA directly. First of all, you have some rights, search up %26quot;debt collector rights.%26quot;

Now, even though they are harrasing you, remember that these agencies are on a commision and want to meet their numbers, so maybe the best time to negotiate would be towards the end of the month.

First of all do NOT make any promises to the debt collector, because it may impact your statue of limitation. Secondly, the debt collector also has a manager on top, try getting another person to deal with.

Good Luck.

I want advise on how to negotiate with a credit card company, so I can pay off my debt all by myself.?

Stop talking to them on the phone, email, or fax. Go to the good old fashion mail.

As this debt is 4 years old, it is probably beyond the Statute of Limitations (SOL), the timeframe to bring lawsuit. Check for your state: http://www.fair-debt-collection.com/SOL-...

Send them a letter indicating that you know the debt is beyond the SOL and you just want to settle to clear this up. Offer them $1,200 to settle in payments of $200 over a 6 month period. Ask that an authorized agent sign and return a copy of your letter indicating they will accept this as full settlement of the account.

If you can come up with a lump sum, like $800, you could probably get them to accept that as full and final payment for that $3K. Don%26#039;t let them push you around. They probably paid less than 10 cents on the dollar for that debt.

Absolutely do not pay anything till you have the settlement agreement in writing and don%26#039;t give them access to your bank account.

I want advise on how to negotiate with a credit card company, so I can pay off my debt all by myself.?

Hi

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