Settlement Timeline

I am about 3 months past due on my credit cards. When should I try to work out a full settlement on the cards? Family may be able to help me with some settlements. I have looked everywhere for a timeline but dont see anything. Some people say 4 months,,,,some say 5 past due. I have chase and I see people setting for 20-30% and wonder what their timeline was for being past due. I am getting frequent calls but not able to respond/answer so not sure how no response to them affects me either. Any thoughts appreciated!

3 Answers

The older your debt is, the better will be the chances of getting it settled. Contact a debt settlement company so that you may get the help of a professional to work on your behalf and help you settle your credit card debts.

I too agree with my previous poster. Do whatever he/she has said.

If its past 90 days, the banks should start working with you soon. They will initially be offering you a hardship program. There are no fixed timelines as far as credit card debts are concerned. The older the debt is, the better the chances are of settling it at a lower rate.

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