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

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

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.

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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