Anyone have success settling with Unifund?
Unifund, the company that bought my credit card debt, will only settle with my debt settlement company for 80% of the balance after fees and interest. So what used to be an $11,000 credit card debt has become a $30,000 debt to Unifund. I have been approved for an unsecured loan from my local credit union for $16,000 and the rest I have saved in trust at the settlement company to pay Unifund this week. My question is would I save more money if I tried settling the debt with Unifund directly (with a payment plan) than to pay the interest on the bank loan at 11.57%? How would each option effect my credit? Would the bank loan look like a "good" debt while the payment plan to Unifund look like a "bad" debt?