Can I Call Target National Bank to Settle Instead of the Debt Collector
I have gotten letters saying I will be served for a $5500 debt to target national bank. Can I call target national bank to try to settle without court?
Can I call target national bank to try to settle without court?
—Jennifer
You can negotiate the Target credit card at anytime. If your account is more than a few months behind, you are likely dealing with a debt collector hired by Targe, or perhaps a debt buyer. In either case, calling Target directly to settle the debt will likely result in being referred to whoever is collecting now.
It would help me to know more about your situation.
When was the last payment made on the account?
What is the current balance?
Who is contacting you to collect the debt?
What state do you live in?
If you can answer those questions in a comment reply below I will respond with more helpful feedback.
About Michael BoveeMichael started CRN in 2004 with a mission to provide people in need with detailed debt and credit help and education. Michael has participated as an expert panelist in federal consumer protection rule making, collaborated on state law changes governing debt consolidation, has worked as an expert witness in court matters related to the debt relief industry. He is available to speak with you about your financial struggle and helps people resolve their debt problems daily.
I am currently working with a debt settlement company and I contacted Target and they said they do not deal with debt settlement companies but my settlement company says they do. What do I do? In 2 days it will be sent to collections.
TD Bank settles debt with debt relief companies. Not sure why they would tell you that.
Your account can be settled with a collection agency too. It is actually more common.
Hello,
I have an account with Target Mastercard that was charged off and sent to collection.
I had called to make a payment and they told me my account had been charged off the day before.
Is there any way to get it back with Target and have the charge off removed from my credit?
My ex husband and I got divorced 4 years ago and I am responsible for the debt of this account. I fell behind on payments resulting in it being charged off. it is now on his credit so I am trying to find a way to make the debt fall solely on me and not him.
He is the primary account holder and I am an authorized user. I feel terrible about this and want to fix it.
any assistance or advice will be greatly appreciated,
kind regards,
Cynthia Alvarez
TD Bank is not known for deleting accurate credit reporting. You can settle the account for less with the collection agency TD Bank sent your account to, and that will update the credit reports to show a zero balance owed. Credit reports can heal after that.
Who is the collection agency that now has the Target account?
Hi Michael. It’s Ben from the Synchrony thread. Mom also has 5k Target that we were planning on getting sued for and hoping it just turns into a judgment lien with no foreclosure on the home. I was just wondering what the options were here as money is tight especially if family is going to be helping out with the Synchrony situation. Would debt collector likely place a lien on the home in court if we cannot pay? Or if somehow we could offer some kind of extended payment plan and not a lump sum is there any way to do it like we discussed with Synchrony? Currently she’s paying $250 a month for the next 2.75 years no interest. THANKS!
The payment plan you have with TD bank now is as good as that would likely get.
Attorneys for TD bank do not typically offer super long payment terms on lawsuits and judgments, though I will say that is not impossible.
TD bank does not sell debts right now, so the same two or more year payback time on an account settled for half is not going to look the same as her other accounts.
It would be super rare to see a credit card collection judgment, that results in a lien against real property, cause there to be a forced sale of the home to satisfy the judgment.
Thanks Michael. So since they don’t sell their debts, and my mother is stopping payment, how long until she can expect to receive a notice to appear in court? I’m assuming it will be a written notice? Does she need a lawyer or anything or can she just show up and say, “I’m on social security & I have no assets.” I also read that it would be best to take her name off of the joint bank account with my father where he receives his social security deposits and keep her deposits in the one she currently has on her own so they don’t accidentally garnish any of his wages. I’m assuming that info is valid to your knowledge and should be done ASAP? Thanks!
I’m aware that it would be super rare to see a forced sale in a home. I’m concerned too about what happens in 15 or 20 years from now after these liens have been gaining interest and if my parent(s) are still around. I feel like they’d look a lot juicier and worthwhile to foreclose on especially since there is a lot of equity in the home and the mortgage would be paid. I am probably worrying too much, I’m aware.
If you are worried about what these balances could inflate to if the court grants judgment interest, and you want to preserve the estate (the judgment liens would eventually be paid if they sell, transfer title after passing, refi), I would get with the family and try to settle the TD bank credit card around 6 or so months from now.
If it just is what it is, check out this post and video about social security collection exemption. If the only money going in her account is from an exempt source, and they spend that money out (don’t let a few months of SSI build up in the account), she is probably good. If he is still working, so more than SSI in his account, I would take her off in this situation if it were my family situation.