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Becasue if you are delinquent the creidt card company fears it won't get its money. They will then settle to get soemthing as opposed to nothing. If you are apying something, they will just continue to add on the interest.

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15y ago

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Can I get an out-of-court settlement on my credit card?

It is possible to get an out-of-court settlement for a credit card. Credit card companies and collection agencies offer a variety of payment and settlement options for the debtor.


How can one get a credit card settlement?

For one to get a credit card settlement, you would need to be far enough late in your payments for your credit card to consider settlement. If you are late, you would call and make an offer.


How can you close a credit card that has a delinquent balance?

No, it has to be settled before you can close it.


Will a credit counseler help you get a debt settlement on your credit card?

A credit counselor may be able to help you get a debt settlement on your credit card. It will depend on if the counselor only gives you ways to get out of debt or if they are a settlement counselor.


Can a credit card defaulter get house loan after the credit card debt settlement?

yes


What are the specifics of credit card debt settlement?

You should get a hold of a debt consolidator who will then go to bat for you with your credit card companies. They will work out a settlement that can be agreed upon by both the credit card company and yourself.


Can a credit card company deny you purchases if someone else at your address is delinquent with the same company?

It depends on the terms and conditions of the credit card company. Ask them to send you a copy if you do not have the one that came with your credit card.


What should you do about an delinquent credit card?

No matter what else:Stop using it.Call the card company and work out a payment planJust pay it off if you can.


How can one go about starting a credit card debt settlement?

You need to get in contact with your credit card company and make an agreement on how you are going to pay back your debts. The cost to doing a credits card debt settlement is that you end up with a very bad credit score.


What point can you request a settlement on credit card debt?

Settlement usually occurs when the account is past due and has been closed. You can either try to settle with the credit card company, or the debt collector that the credit company sold the account to.


How does working with a credit card settlement company affect your credit score?

It is recommended that you pay an old debt through the original creditor. Credit settlement companies are out to make a profit and they will negotiate terms that are not true. Also, it is possible that you can pay the settlement company but still owe the original creditor. It has happened to me. The negative information reported by the credit card settlement company will affect your score negatively.


What happens if the credit card company won't except a settlement?

Whatcanidoifacreditorwontexcept my settlementandsuesme