Comments on: Can I lie and say I may file bankruptcy to get credit card companies to settle for less? http://howtogobankrupt.org/can-i-lie-and-say-i-may-file-bankruptcy-to-get-credit-card-companies-to-settle-for-less.htm Mon, 06 Feb 2012 00:00:45 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: Donna http://howtogobankrupt.org/can-i-lie-and-say-i-may-file-bankruptcy-to-get-credit-card-companies-to-settle-for-less.htm/comment-page-1#comment-5386 Donna Sat, 06 Feb 2010 07:41:55 +0000 http://howtogobankrupt.org/can-i-lie-and-say-i-may-file-bankruptcy-to-get-credit-card-companies-to-settle-for-less.htm#comment-5386 When you agree to a credit card, you agree to give the card company access to your personal info. They will know if you are really facing bankruptcy based on your financial information, your credit report, your balances on your other credit cards and other information. Some may offer a settlement even if you are not facing bankruptcy but be careful...your credit may be damaged. When you agree to a credit card, you agree to give the card company access to your personal info. They will know if you are really facing bankruptcy based on your financial information, your credit report, your balances on your other credit cards and other information. Some may offer a settlement even if you are not facing bankruptcy but be careful…your credit may be damaged.

]]> By: Really http://howtogobankrupt.org/can-i-lie-and-say-i-may-file-bankruptcy-to-get-credit-card-companies-to-settle-for-less.htm/comment-page-1#comment-5387 Really Sat, 06 Feb 2010 07:41:55 +0000 http://howtogobankrupt.org/can-i-lie-and-say-i-may-file-bankruptcy-to-get-credit-card-companies-to-settle-for-less.htm#comment-5387 Yes all is fair in battling debt. This is called negotiating. Make sure you have a figure in mind when you start. Yes all is fair in battling debt. This is called negotiating. Make sure you have a figure in mind when you start.

]]> By: CatDad http://howtogobankrupt.org/can-i-lie-and-say-i-may-file-bankruptcy-to-get-credit-card-companies-to-settle-for-less.htm/comment-page-1#comment-5388 CatDad Sat, 06 Feb 2010 07:41:55 +0000 http://howtogobankrupt.org/can-i-lie-and-say-i-may-file-bankruptcy-to-get-credit-card-companies-to-settle-for-less.htm#comment-5388 - Credit card companies only settle if you are behind in your payments...like at least 3 months. They "may" settle on current accounts and give you a token 10% or so savings/settlement...this involves charging-off the card and this REALLY damages your credit rating..the damage to your credit rating is not worth a small savings. Don't threaten filing for bankruptcy...it may backfire. If you way behind in your cards, then you can try to settle for less....You really need to be 3 months behind to get the best deal. - Credit card companies only settle if you are behind in your payments…like at least 3 months. They "may" settle on current accounts and give you a token 10% or so savings/settlement…this involves charging-off the card and this REALLY damages your credit rating..the damage to your credit rating is not worth a small savings.

Don’t threaten filing for bankruptcy…it may backfire. If you way behind in your cards, then you can try to settle for less….You really need to be 3 months behind to get the best deal.

]]> By: The Debt Eliminator http://howtogobankrupt.org/can-i-lie-and-say-i-may-file-bankruptcy-to-get-credit-card-companies-to-settle-for-less.htm/comment-page-1#comment-5389 The Debt Eliminator Sat, 06 Feb 2010 07:41:55 +0000 http://howtogobankrupt.org/can-i-lie-and-say-i-may-file-bankruptcy-to-get-credit-card-companies-to-settle-for-less.htm#comment-5389 If you lie, your creditors will not know. The longer you wait to settle with them, the lower they will settle for. I'd wait about 6 months before you make a settlement offer. But keep in mind that they can sue. Highly unlikely, unless they know you have a lot of assets. If you lie, your creditors will not know. The longer you wait to settle with them, the lower they will settle for. I’d wait about 6 months before you make a settlement offer. But keep in mind that they can sue. Highly unlikely, unless they know you have a lot of assets.

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