Question about debt settlement credit card.?
My boyfriend has a credit card America Bank. There is a limit $ 7.500 on the card, but after finance charges, late fees etc, the debt is now $ 8900. She was 120 days late on payments and was called by Card Services, who say they are a division of Bank of America collection. Offered their settlement in the amount of $ 4500 instead of $ 8900 on the card. She thinks which is an agreement, because half of the debt is "disappear." We checked your credit report and not listed as in the collections of only very late time of payment. I argued with her saying that the solution is bad and it will affect your credit in the coming years, but she thinks it's a good plan. We are planning looking for a house in a year and a half and do not want this to affect our purchasing power. So how to settle your credit? Does the payment of the amount instead of looking for the best solution in your credit report even though the account is overdue? What should we do, who is right here list?
Many companies now have an internal collection division. It would be better to resolve while still in the Bank of America allow it to go further and say that a collection company independent. Then you can run the risk of two stains on your credit history instead of one. And in terms of credit history goes, the damage is done.
Debt settlement vs credit counseling for credit card debt relief
