Does anyone know what % a company will settle for?

Debt settlement

For example, my balance on one of my credit cards is $10,000. Does anyone know how much the average company will take?

Do you think the minimum that they would accept is 3/4? 1/2?

I heard it depends on the length of time since the last payment. Somewhere between 1/3 and 1/2 of the balance is normal if it’s less than 5 years old but older than 1 year. If it’s older than 5-7 years you should be able to settle for ~1/4.

You and I are actually saying the very same thing

Debt settlement, Services

I think you and I are actually saying the very same thing 😉 So we can quit complimenting each other on our extraordinary taste and common sense..lol

I personally would NEVER recommend that someone use a debt settlement service. However, if someone feels that’s their only option, they should at least use the lesser of the evils. CCCS has a fiduciary responsibility to actually pay the bills where most debt collection companies don’t. I’m not advocating them, just mentioning the facts.

They still suck, but it’s more like a Hoover vs a Dyson.

Have a great evening.