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Bank Of America Credit Card Settlement: Willing to settle for $11k.





Sub: Bank Of America Credit Card Settlement: Willing to settle for $11k.
Sat, 09/04/2011 08:37

Bank Of America Credit Card Settlement
I lost my job about a year ago and am now back to some what of a stable income and had an MBNA card that went to Bank of America the balance is $64k and they are willing to settle for $11k over 6 installments (I know from reading previous posts that this is a very favorable settlement). Which they are letting me do $500 now then $600 for 4 months then the last payment of $8100.

If I can't raise the $8100 in 6 months, which I am going to try my best would the drop the settlement altogether or work with me?



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Sub: #1 Just settled with BofASat, 04/09/2011 - 08:37



Just settled 42K balance with BofA for 12.5K. That's 30%. Will have do do 4 installment payments. They will be sending 1099 for the difference.


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Sub: #2 I settled with BOA on my own for 35% of my balance. Missed 5 payMon, 03/28/2011 - 21:39



I settled with BOA on my own for 35% of my balance. Missed 5 payments. Prior to the the 6th payment I sent an internal email via BOA's website and got a 45 % settlement in the mail. I called two days after the letter and negotiated to 35% ! Very easy and I only had to make 1 call. They were extremely professional and courteous .... good luck all !!!


Shazzers
Shazzers


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Credits: 158673.4

Sub: #3 Quote:with that 140k i coulda knocked it down to 24 k lol.. guysMon, 02/28/2011 - 19:29



Quote:
with that 140k i coulda knocked it down to 24 k lol.. guys plz let me help!! refer me to friends !!!

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Sub: #4 with that 140k i coulda knocked it down to 24 k lol.. guys plz lMon, 02/28/2011 - 16:08



with that 140k i coulda knocked it down to 24 k lol.. guys plz let me help!! refer me to friends !!!


Unregistered

Sub: #5 hey guys going forward.. i can advise how u can settle ur balancMon, 02/28/2011 - 16:06



hey guys going forward.. i can advise how u can settle ur balances at like 20 to 25%.. its very simple. and now they don't let u do 6 payments everything has to be done within 93 days. but again.. i can help out tremendously.. any questions at all.
knowledge is key!!!


debtinthedistance
debtinthedistance
Posts: 81
Credits: 1357.75

Sub: #6 Good for you on your settlement from B of AThu, 02/10/2011 - 17:52



Good for you on your settlement from B of A


Unregistered

Sub: #7 Just got off the phone with BOA, I was able to settle my $8600 fThu, 02/10/2011 - 17:13



Just got off the phone with BOA, I was able to settle my $8600 for $2200. Glad that i made the call today. I'm 180 days past due BTW


Unregistered

Sub: #8 TimsterSun, 01/30/2011 - 15:49



You sure can I owed 140K in credit card debt and with hard work and a lot of patience I am around 51K on a settlement...


lisaawilliamson
lisaawilliamson
Debt Samaritan
Posts: 187
Credits: 3955.65

Sub: #9 This is radical--but we did it. We actually used the remaining Thu, 01/20/2011 - 18:02



This is radical--but we did it. We actually used the remaining credit on another card to draw out cash and settle cards. Do you have any remaining credit? I don't know that it would always be a good idea but we did it, then settled on those checks later.

We were advised to do this by someone else. We would have never thought of it.


Unregistered

Sub: #10 what type of settlement have people gotten on a 27,000 charged oFri, 01/14/2011 - 20:18



what type of settlement have people gotten on a 27,000 charged off account with bofa? Has anyone ever been sued by them? If you got a low percent, please advise how you got that.


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