longest time allowed to pay settlement

hi all- recently i saw on the boards that one creditor (i can not find that post again to see which one it was) allowed a year to pay off a settlement.

i have read here and also by our creditors that we have discussed settlement with that the max is 4 months (but those were on less than $6000 or less account balances) .

i am wondering if anyone settled a larger balance ($15000 or higher), what is the longest amount of time anyone has been given to pay off a settlement & which bank was it?

we have 2 accounts with one creditor that are around 15 k, & another one around 6k and it is not possible for us to pay even a 20% offer in 4 months on any of them. they are not far from going to charge off, and we fear that if they do charge off, due to the balance of the 3 combined being around 39k, they will send them straight to an attorney.

1 Answers

I settled with Bank of A and Citibank within 3 or 4 payments - can't remember exactly because it was last year. Citibank balance was $10,000+ and Bank of A around $13,000.

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