Can settlement work if I dont enroll all of my accounts – Tom

I have 3 credit cards with a total of about 21,500 balance.

I have fallen behind in paying 2 of them this month.

Is it possible to settle 2 accounts and not the one I am current on?

Can settlement work if I dont enroll all of my accounts

—Tom

Hi Tom,

The short answer is yes, past due bills can be settled while some remain current. If a problem arises, and it can, its because credit card companies and collectors typically look at your credit report at the time a debt is being negotiated for a reduction.

Example:

You want to settle a Chase bank credit card debt and you owe them  a balance of 8,000, but they can see on your your credit report that you are making on time payments to Citi cards whom you owe 10,000, Chase may balk. They may tell you your account is not eligible for settlement. A settlement can later be reached with an outside collection agency or debt buyer if this occurs.

If an account balance that you make timely payments on is a much smaller balance, a creditor objection to you paying others while not paying them can often be overcome.

If you would like to discuss your situation with a CRN specialist in order to get answers and details as they apply to you and what you are going through, I would suggest you click here: Consult Request

Fill out the consult request and submit. You will be contacted to set up a free consult with a debt coach.

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