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Contact the company and offer it a specific amount of money to be paid immediately to satisfy the debt. Some companies insist on at least 70% to 80% of the total and would want that paid within a very short period of time, probably no more than 30 days at most. If the debt has been sold by the credit card company to another company, you may be able to get a lower settlement, because that other company probabably bought the unpaid debt from the credit card company for anywhere from 10% to 50% of the debt. If the other company bought a debt for 10% of its value, it might be willing to settle for 50% rather than the 70% the credit card company would insist on.
What else can I help you with?
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.
What is the credit card payoff formula in Excel?
The credit card payoff formula in Excel is: PMT(rate, nper, -balance). This formula calculates the monthly payment needed to pay off a credit card balance in a certain number of months at a given interest rate.
What is the Excel credit card payoff formula for calculating the amount needed to pay off a credit card debt?
The Excel credit card payoff formula is PMT(rate, nper, -balance). This formula calculates the monthly payment needed to pay off a credit card debt within a specific time frame.
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.
If a credit card placed a lien on your property and you sold it for payoff do you still have to pay the lien?
Yes.
Will a credit card company accept a lower payoff for a balance if the account is not past due but closed?
No
Credit Card Minimum Payment Calculator?
A Credit Card Minimum Payment Calculator shows how long it’ll take to pay off your balance and how much interest you’ll pay if you only make minimum payments. check your credit card scores at PFScores
What is the most effective Excel formula for calculating credit card payoff?
The most effective Excel formula for calculating credit card payoff is the PMT function. This function helps you determine the fixed monthly payment needed to pay off a credit card balance within a specific timeframe, taking into account the interest rate and other relevant factors.
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.
