Settling with Discover for less then 50%

Has anyone ever settled with Discover for less than 50%? I spoke to them today and that is as low they are willing to go. I owe them $15000 they want $8000 I can barely come up with $6000. Lost my job, have disabled children, no income. Any advice?

3 Answers

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I have worked with Discover in the past. I have settled a debt with them for 60%. They refused to go lower:(


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I too agree with Sharon. You may try to negotiate with your creditor to settle for less than 50%. But it depends on their discretion whether or not to accept your proposal.


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Well, it will depend upon your negotiation power whether or not Discover will settle the debts for less than 50%. You will have to convince them about your financial hardship so that they settle the debts for even less than 50%.


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