Monthly Archives: August 2016

Debt settlement percentages?

I am about 5-6 months behind and was recently offered .15 on the dollar to settle with BoA and that account exceeded $25,000.00. Does anyone know the settlement percentages of other cards. Their balances are less than $10,000.00, but greater than $5,000.00

Bank of America
Wells Fargo
Chase
Citibank
Discover

Also, BoA tracked me down for a resolution and one of their options was the settlement offer, will these other cards do the same? Is it before or after charge off that they make a settlement offer? Should I send a settlement offer to them in writing to get the ball rolling?

My total debt is overwhelming and I am in a relentless pursuit to extinguish it the cheapest way possible. Thanks for any input, this forum has been a great help!

WOW! .15 cents on the dollar! I’m impressed! I too have an account with BoA that is like $20,000…and would love to settle!

I heard BoA is hard to deal with…but some of the posts on here give me encouragement.

I too am way in over my head, with business debt, that I’m personally liable for, and personal debt, that I think the only way out is to file bankruptcy. I’d love to settle, if I didn’t have the biz debt, I think I could do it.

I’m seriously contemplating bankruptcy, ch. 13. Our service van got repo’d tonight. My husband was recently diagnosed with ADD, and he can’t handle the business anymore…he is like a non-functional person right now. He needs a job where he is expected to be there…not to get the self-motivation to get out the door. STRESS!

Foreclosures questions

I have recently gone thru a bankruptcy, and now about to get a foreclosure on my house it was a new house i tried to rent it or sell it but did not have any luck. i was wondering what happens with the taxes?? They usually send me a bill to the house and then i send it off to the bank to get paid, but what happens now with a foreclosure, the same thing, or am i going to get stuck with a 3,000 tax bill that i cannot pay that the bank says that i owe, the house is in the state of Texas and i lived there over a yr. so it was a homestead too.

I don’t remember what month the tax bills came in, and what office would you contact to get it early,to send in to the bank?? I would call the bank but i would expect that some bozo would just lie to me what are the laws?? i have never had a house before this one, and never a foreclosure either. they should start around the end of this month or two weeks after that i just got a letter from them registered mail. Help??

You should call the Appraisal District for the county you lived in. They can fax you a copy of the bill, then you can fax it to the bank. I worked for an appraisal district years ago and if I remember correctly property taxes are the same as federal taxes, they don’t go away even with a bankruptcy. But the laws may have changed. They should be able to tell you at the tax office.

When a foreclosure occurs; the one foreclosing (the bank in your case) will be responsible for any back taxes and current taxes on the property if they want clear title as back taxes can affect title of the property.