How To Negotiate Settlements With Credit Card Companies

If the credit card company is not agreeing to settle, then you can try balance transfer. Transfer the balance from this card to another one, with 0% interest on balance transfer. However, remember to pay off the balance before the 0% time period expires.

Can you tell what kind of settlement offer you have made to the credit card company? (if any)

In order to go for a settlement process, you must not make a payment for atleast 180 days. You've to convince your creditors that you're unable to pay the monthly payments. Credit companies will never agree to a settlement plan if they know that the customer can give them regular payments.

A proper negotiation in a settlement process may help you settle your debts at about 60% of your original debts. If they agree, get the settlement agreement in writing. You should also request your creditors to report your account as 'Paid' to the credit bureaus. This will help you since debt settlement can severely dent your credit score.