Posted on March 17, 2010 at 1:58 am Tell me more about settlement on credit cards - it sounds interesting but since I don't understand - I feel apprehensive. Thank you in advance!

Posted on March 17, 2010 at 2:23 am Settlement on credit cards - hi! That's a fair assessment about debt settlementas it is a relatively new industry. Also, recently there were Attorney Generalswho launched inquiries on some companies that have received a lot complaints. Some of them were sued for deceptive practices and were found guilty - but that'snot to say that debt settlement is generally a bad debt relief business. Consider those, as isolated instances. -- Anyway, you can settle with your original creditors orwith a third party collection agency. Those would give you different averagesettlement percentages. All the best to you!

Posted on March 17, 2010 at 3:22 am Settlement on credit cards - hello there. If you are planning on settlingwith your original creditor, be prepared to be rejected, as original creditorswould rather they collect on the full amount. If ever they'd settle -it would be along the 75% of your debt percentage (more or less) - andthey might ask for a one time lump sum payment. Do give it a try.

Posted on March 17, 2010 at 4:43 am settlement on credit cards with a third party collection agency - in percentage -could be anywhere from 35-70% (more or less). You may be able to get thebest deal if you employ the services of a settlement company because the negotiatorsare used to doing negotiations - as opposed to you, if you decide to do a d.i.y. debt settlement. It's up to you.

Posted on March 17, 2010 at 4:56 am Hi, just want you to know that a settlement on credit cards (forgiven debt) are taxable.

Posted on March 17, 2010 at 5:09 am settlement on credit cards is taxable? how come? & how much is it?