I am in the preligation deptments on my discover c

I am in the preligation deptments on my discover card and capital one. Both cards are deliquent about 7 months. Both won't settle for less that 75%. I owe 12000 on discover and 2400 on capitol one. I have very little money. What to do? Should I wait for a better settlement or file bankruptsy. I have already settled 4 chase card for 30% each and Home Depot (citi) for 20%. I still have about 6 more cards to go 3 have not been charged off yet. BOA 2 and Barclay bank 1.

3 Answers

Be patient - don't file for bankruptcy just yet. Capital One and Discover are a little difficult at this stage of delinquency, but once the accounts are outsourced you'll find that your results will be much better.

You should probably start focusing on Bank of America and Barclays, since these two creditors are more cooperative than Capital One and Discover.

Best of luck to you!

Marie Megge

http://www.debtconsolidationcare.com/companies/donaldson-williams-inc/

There is no such thing a "pre-litigation" department.  It is a misued term for collections., meant to instill fear. 

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

You can contact with your creditors and negotiate with them. You may try to arrange a better repayment plan with them. If they don’t agree to negotiate with you, then you may get help from a reliable debt relief company. This company then negotiates with your creditors on your behalf.

 


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