I just found out about a debt that i owed to a for

I just found out about a debt that i owed to a former bank of $10,600, I just got a job and and want to settle with them. How low is to low of an offer i could put up $3,000 or are they just going to laugh at me? I called them to find out what i needed to do and they want a bank statement but a friend of mine told me not to do it because they could get access to my funds....is this true? Can i ask them to remove it from my credit report?

4 Answers

No, they CANNOT access your account....that would be FRAUD!!

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


We'll there's a certain type of block that can be placed on your account. It gives your account a "deposit only" status. This way your account can be credited, but none can get it debited.


Make the settlement offer to the bank. At the most, they will refuse it. If they don't accept it, then you can hike the settlement offer. Once you settle the debt, ask them to update the account status as "Paid as Settled" or "Paid as Agreed".  


You will have to contact the bank and negotiate for a settlement. If they are convinced about your financial hardship, then they may settle the debt for $3,000. If they start debiting money from your bank account, then you can put a hard debit block on that account in order to stop them from debiting money.


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