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**TROLL** · 03-12-2010, 01:47 PM

Quote:

Originally Posted by 11secdsm

Normally they will not negotiate a lower payoff unless you are delinquent on the account....even so, it would show up on your credit report as a "settlement" and would negatively impact your credit score. I highly recommend just paying it off. Even calling them could negatively impact you (i.e. they could lower your credit limit based on the conversation).

This is good info and I agree with it 100%.

Keeper1343 · 03-12-2010, 02:30 PM

people relax. You cant settle unless your crazy late with payments. My Mom just bankrupted 850,000 dollars so i have the inside scoop. you can only settle if the banks know their not going to get everything back... also, they have the ability to settle and make your credit look like nothing ever happened, but you have to negotiate that. She used to get mail and calls about a 65K dollar debt and they would accept 15K. But you have to not pay your cards for like a year

igo4bmx · 03-12-2010, 04:29 PM

Quote:

Originally Posted by 11secdsm

Normally they will not negotiate a lower payoff unless you are delinquent on the account....even so, it would show up on your credit report as a "settlement" and would negatively impact your credit score. I highly recommend just paying it off. Even calling them could negatively impact you (i.e. they could lower your credit limit based on the conversation).

yes
delinquent accounts are written off the books as losses after a certain point in an account and at that point only is the credit card deals negotiated since they aren't trying to get all the money back but instead something in return.

i don't understand how paying off early or calling would affect your score?!
i've heard of loans where they have early pay off penalties...

ITSTOCK · 03-12-2010, 04:31 PM

LOL

Good luck. So you can pay it off in full, but you want to pay less than what the agree'd upon sales price and credit conditions were? Give it a try. The worst it will do is hurt your credit. It sounds like you kind of deserve that for even considering trying a stunt like this.

Keeper1343 · 03-12-2010, 09:22 PM

it wont hurt his credit... just make him get laughed at as they transfer him from person to person so they can laugh too

03-12-2010, 02:30 PM	#22
Keeper1343 Tri-State Addict Join Date: Sep 2007 Member #5714 My Ride: 99 Honda Prelude... get some. iTrader: (0)	people relax. You cant settle unless your crazy late with payments. My Mom just bankrupted 850,000 dollars so i have the inside scoop. you can only settle if the banks know their not going to get everything back... also, they have the ability to settle and make your credit look like nothing ever happened, but you have to negotiate that. She used to get mail and calls about a 65K dollar debt and they would accept 15K. But you have to not pay your cards for like a year __________________ Cleanneon (4:51:38 PM): guys find a vag, start bangin it, forget their friends Cleanneon (4:52:00 PM): 2 months (usually less) later the vag finds another douchebag, and your friends want nothing to do with you Keeper1343 (4:52:07 PM): lol Cleanneon (4:52:07 PM): on top of which it hurts you to pee

03-12-2010, 09:22 PM	#25
Keeper1343 Tri-State Addict Join Date: Sep 2007 Member #5714 My Ride: 99 Honda Prelude... get some. iTrader: (0)	it wont hurt his credit... just make him get laughed at as they transfer him from person to person so they can laugh too __________________ Cleanneon (4:51:38 PM): guys find a vag, start bangin it, forget their friends Cleanneon (4:52:00 PM): 2 months (usually less) later the vag finds another douchebag, and your friends want nothing to do with you Keeper1343 (4:52:07 PM): lol Cleanneon (4:52:07 PM): on top of which it hurts you to pee

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03-12-2010, 04:31 PM	#24
ITSTOCK Tri-State Post Whore Join Date: Sep 2005 Member #844 iTrader: (0)	LOL Good luck. So you can pay it off in full, but you want to pay less than what the agree'd upon sales price and credit conditions were? Give it a try. The worst it will do is hurt your credit. It sounds like you kind of deserve that for even considering trying a stunt like this.