Credit Card Settlement Question

Factual Questions
1

Hi,

Has anyone had any experience with settling credit cards? Specifically, what the normal percentage of an accepted settlement would be… if someone has a $3000 debt , what would be a reasonable offer on the balance that the credit card company would be likely to accept.

I realize the affect it will have on one’s credit report.

2

You will get widly different results from different companies depending on many factors. That said, I’ve seen settlements for as little as 50% and as high as 90%.