I am more then $3,000 behind on one credit card,they offered 60 mths with no interest and no late fees, but they want to pull $470 out of my account every month. This will still be a major hardship. Do I have any other legal options they are not tell ...

Submitted by down2onesister on

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I am more then $3,000 behind on one credit card,they offered 60 mths with no interest and no late fees, but they want to pull $470 out of my account every month. This will still be a major hardship. Do I have any other legal options they are not telling me

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You may not have any "legal"

Submitted by Staff_Writer on

You may not have any "legal" options. For example, if they want to collect, they can sue you and eventually get a judgment. However, many credit card companies will settle with you for much less than you owe. You might toffer to pay them $600 all at once to settle the whole bill. A bank might rather have 20% and be done with you, than have to sue you or push you into bankruptcy. Typical settlements range from 10-35% of your balance.

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You may not have any "legal"

Submitted by Staff_Writer on

You may not have any "legal" options. For example, if they want to collect, they can sue you and eventually get a judgment. However, many credit card companies will settle with you for much less than you owe. You might toffer to pay them $600 all at once to settle the whole bill. A bank might rather have 20% and be done with you, than have to sue you or push you into bankruptcy. Typical settlements range from 10-35% of your balance.