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It really doesn't matter what the balance is ... as sad as it is to say, you are more likely to get a larger settlement the further delinquent your balance is. If you are only 30-120 days past due, they will still settle, but you will get a much better rate once the balance has reached over 150, or 5 months past due. This is because they don't want to take the loss at this point, they will take whatever they can get!!! ... It all depends on if you want that on your credit report -- 5 months straight showing past due.

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Q: Will a credit card company accept a payoff of a certain percentage?
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Credit card companies charge companies a sale percentage of the purchase price on every credit card purchase. Often smaller companies will not accept credit cards to avoid these charges, whereas bigger companies will pay them to open up to more potential business.


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