During the debt settlement negotiation process, a letter requesting a lump sum settlement may be one of the best ways to successfully land a settlement on your credit card debt. Most credit card companies are more willing to accept a lump sum because they know that they’ll get paid at least some of the principle [...]
Many people find themselves in situations where they need to do some financial ‘house cleaning’ and want to close some of their credit card accounts in order to make things a little simpler. This can be a good idea, but you need to go about it carefully. To begin with, you should not close a [...]
American Express has long been known as the premier business credit card. And for a while now, they have become a significant player in the personal credit card market, and as with any big credit card company, they have customers for whatever reason, cannot pay their credit card bills. American Express will generally be willing [...]
Bank of America is a huge financial conglomerate who often is willing to negotiate settlements with credit card holders who can’t make payments on their past due credit card debt. Like other major credit card companies, Bank of America realized that settling a debt with a customer is way more cost-efficient for them than [...]
Barclays Bank is another major credit card issuer who does a lot of business co-branding credit cards with department stores and major retailers. BJ’s Wholesale Club and Airtran Airways are just two of the major companies that Barclays Bank of Delaware provides credit services to. Below is a sample debt settlement offer letter that Barclay’s [...]
Chase is a huge financial corporation and has a history of offering settlements to individual cardholders who can’t meet minimum payments or find themselves past due on their credit card bill. Chase (through their Cardmember Service division) usually will offer a settlement and then create a installment plan for past-due accounts like in the sample [...]
Ge Money Bank is the credit card behind a lot of the store credit cards. Amazon.com uses GE Money bank, and many furniture stores, department stores and other retail outlets use GE Money bank for their credit card services. So like many other huge credit card companies, they have been shown to be willing to [...]
Capital One is probably best known these days for their goofy TV commercials, but they have also been known to give their cardholders a break in the form a settlement on their overdue credit card bills. Granted, you need to be able to demonstrate a legitimate financial hardship in order to negotiate a settlement with [...]
Citibank is undoubtedly one of the biggest credit card companies around. They have a worldwide presence and their credit card division, Citi Cards, issues millions of dollars worth of credit each year to individuals and corporations. They also have been known to settle credit card accounts for as little as 15% of what was owed. [...]
Discover Card Services is a huge financial conglomerate, Discover Financial Services that pretty much dominates the credit card industry along with Visa and MasterCard. However, if a card holder demonstrates an inability to pay a balance because of a financial hardship, they are willing to settle the account for less that what is owed. Below [...]
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