Has anyone had experience settling credit card debt? how many pennies on the dollar do you try to offer them?

by US Embassy New Zealand
Question by Ricky: Has anyone had experience settling credit card debt? how many pennies on the dollar do you try to offer them?



Best answer:
Answer by Dixie Darlin'You have a better chance of settling the debts that are in collections, the older the debt the better deal. You will also need cash to pay off the settlement, most who agree to settle want a lump sum.

If the debt is 1-2 years old offer them 75%, 2-3 years old offer them 50%, 3 years up

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