Posted on November 12, 2009 at 6:25 pm I've been a longtime user of Discover card and due to medical reasons I haven't been paying for my accounts with them. As a result my accounts have been transferred to a debt collctions company, and ttruth be told I would rather work with my creditor than with these cmpanies. I just want to ask, does Discover settle accounts with their consumers? I certainly hope they do.

Posted on November 12, 2009 at 7:31 pm Does Discover settle accounts with their consumers?For the most part, I believe they do not, unlike other banks who are willing to set up and negotiate payment plans with their consumers. Also, Discover does not work with third party debt consolidation companies.

Posted on November 13, 2009 at 12:11 am Does Discover settle accounts with their consumers? Cheetos lover, I think they already do. Apparently they allow their clients to consolidate their loans with a fixed-rate installment loan.

Posted on November 13, 2009 at 1:02 am Wonder Girl, that's different from actually settling the account. Discover card does not settle accounts with their consumers but they offer payment plans such as the one mentioned above. Also, Discover offers temporary arrangements for their hardship-stricken clients by way of reducing their APR's to single-digit figures.

Posted on November 13, 2009 at 4:24 am I agree, I heard that Discover doesn't really work with settlement companies but once they turn the account over to a third party collection agency, it's all about settlement. They'd rather get something than nothing.If you are planning on settling your account d.i.y. stop all your payments until you become past due. I know it's bad for the credit but what is your number one priority right now? Please feel free to fill out a form here at destroydebt.com and get matched up to the right program/company - if you're thinking of enrolling in a debt settlement program instead. It is free of charge.