I am about to start negotiating debt settlement with Bank of America. Have you been successfull? Does anyone have a good phone number for them where I can start the process?
If it's still in-house, they probably won't settle for less. Their main customer service number is 1-800-421-2110 and they should be able to direct you to the correct dept. If you go bankrupt, that will stay on your files for years.
They have a website with phone numbers or you could even check your bills for the phone number. It can be done…negotiating…hopefully if you have someone who speaks english…I am not prejudice but I hate it when the person does not understand me because I use slang words alot and they're trained in proper english. With the times the way they are…you should have little trouble with negotiations.
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no such. they won't settle.
in such situations, banks want two things:
1. external verification that you can't pay, and
2. that all creditors are treated equally.
as an individual, you can't supply either of these. however, an independent credit counseling service can.
which is why the banks listen to them and not to individuals.
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make sense?
retired banker
If it's still in-house, they probably won't settle for less. Their main customer service number is 1-800-421-2110 and they should be able to direct you to the correct dept. If you go bankrupt, that will stay on your files for years.
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Retired bill collector 35 years
Yes, a friend of mine had settled with 2 Bank of America credit card about a year ago. Good luck!
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I can bet, they will settle at 20% if you try a little. I have personally helped many do that. BOA is definitely a bank that loves settling debt. Do not let your debt go to a collector. Settle it before BOA gives up. The moment you get an offer of around 20%, go for it. They will not give you more than 2 weeks to pay it off. So make sure you start saving money from right now.
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Years of experience in Debt Industry.