Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
lilmeg019

0 Contributions
0 People Helped
They are wanting a Huge Paydown and monthly payments I do not have.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
935 Contributions
132 People Helped

I presume that the item you are referring to is a collection item of an unpaid debt.   What you received was the first step in a negotiation.   They showed you what they wanted to settle the debt, its now your turn in the negotiation. you now make your offer of what you can afford. Somewhere between their high offer and your low offer, I'm sure there is some middle ground that you can both be happy with.   Actually, they'll be happy with anything, you'd be surprised what your negotiation power is.   Just don't expect them to settle for less and have minimum payments both. 

Top Contributor
996 Contributions
552 People Helped

Why did they want huge pay down and monthly payments, is because you didn't pay them according to the agreement? Creditors don't usually demand large payments out of blue, well maybe except for loan sharks.

Top Contributor
7362 Contributions
3808 People Helped

Helpful to 0 out of 2 people

Things work that way when you are charging, and you have to pay as agreed.  If you haven't read the articles on this site, you should, and you might want to checkout Dave Ramsey's site for advice on paying down debts.

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.