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Old 03-14-2019, 07:40 AM   #1
Tired912
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Default Debt settlement with lumsum money

Question does any one here ever try to settle their balance with a lum sum money? I have an outstanding credit card 49k.
If they are going to file a case, can i negotiate with them and pay them half or 3/4 of the balance?
Anyone tried it?
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Old 03-14-2019, 01:19 PM   #2
adjusterjack
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Default Re: Debt settlement with lumsum money

I'm sure many have done it.

All you have to do is call up and make your offer. If it is accepted, get the agreement in writing.
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Old 03-15-2019, 07:00 AM   #3
Lexus
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Default Re: Debt settlement with lumsum money

Most probably they accept your offer as a court case is more time consuming and if they get a lump sum they will go with your offer.
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Old 03-15-2019, 12:38 PM   #4
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I'm sure many have done it.

All you have to do is call up and make your offer. If it is accepted, get the agreement in writing.
Thanks, for the reply, im really tight now, i cant pay my credit card, but im trying to sell some properties to come up with a lum sum money, i dont want them bothering me back in my country, specially that my partner is not aware of the situation, dont want her to be involve since i accumulated my debt before i met her. But since im planning to go home and for sure one day it will come up.
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Old 03-15-2019, 12:39 PM   #5
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Most probably they accept your offer as a court case is more time consuming and if they get a lump sum they will go with your offer.
Can they hold the police case while im gathering money for the lumsum or its easier to pay the fine then settle later?
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Old 03-15-2019, 01:08 PM   #6
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Default Re: Debt settlement with lumsum money

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im really tight now, i cant pay my credit card, but im trying to sell some properties to come up with a lum sum money, i dont want them bothering me back in my country, specially that my partner is not aware of the situation, dont want her to be involve since i accumulated my debt before i met her. But since im planning to go home and for sure one day it will come up.
If you don't have the money, don't bother making the offer. Your creditor will want to know that you have the cash today if it accepts your offer. Otherwise you won't be given the time of day.

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Can they hold the police case while im gathering money for the lumsum or its easier to pay the fine then settle later?
You've already broken the promise to pay and proven yourself untrustworthy. The creditor won't delay the police case on another promise to pay.

No harm in asking. Just don't count on it.
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Old 03-15-2019, 01:33 PM   #7
Tired912
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If you don't have the money, don't bother making the offer. Your creditor will want to know that you have the cash today if it accepts your offer. Otherwise you won't be given the time of day.



You've already broken the promise to pay and proven yourself untrustworthy. The creditor won't delay the police case on another promise to pay.

No harm in asking. Just don't count on it.
My balance CC now is 49k by the time that they will file a case it will balloon in an enormous amount. Just in case they file case this september and by February next year ill have 30k to 35k, will dunia settle with this amount and clear me with debt?
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Old 03-15-2019, 03:45 PM   #8
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Default Re: Debt settlement with lumsum money

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My balance CC now is 49k by the time that they will file a case it will balloon in an enormous amount. Just in case they file case this september and by February next year ill have 30k to 35k, will dunia settle with this amount and clear me with debt?
That's up to Dunia. Once you have the money, all you can do is make the offer and see how it goes.
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Old 03-24-2019, 01:52 PM   #9
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Originally Posted by Tired912 View Post
Question does any one here ever try to settle their balance with a lum sum money? I have an outstanding credit card 49k.
If they are going to file a case, can i negotiate with them and pay them half or 3/4 of the balance?
Anyone tried it?
Of course you can have it settled but do not go through any debt settlement or rescheduling companies as they will only be exchanging words between the bank and the defaulter. You have the cash with you and say this is alll you can pay which can be even 30 of your total outstanding but do not bother if they dont accept it. You should wait for them to come back to you and mot follow them as this shows your desperation towards settlement.
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Old 03-24-2019, 01:54 PM   #10
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Can they hold the police case while im gathering money for the lumsum or its easier to pay the fine then settle later?
It is going to be of more benefit to you if a case is being filed to claim the outstanding from you. Subject to the Emirate you can close the case with a court fine.
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