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Dealing with B of A. I settled on my consumer debt for 35% and got it in writing prior to paying.
Now they've offered me a 31.5% settlement on a very large balance of business credit card/credit line debt. $25k in settlement for almost $80k. But, I am being told nothing in writing is sent out. 30 days AFTER pmt they will send out a letter. This time I'm dealing with FIA card services, which appears to be an arm of B of A.
I don't feel right about this but they have been honorable in everything else. Has anyone heard of them offering verbally and then denying they made the offer?
I need some quick feedback.
B of A business credit card settlement
Hi sjzia,
Welcome to this community :)
You should never make any kind of payments before getting the settlement agreement in writing. The collection agency may later claim that you are required to pay the whole amount. However, honorable they may have been, first get the agreement in writing.
Thanks,
Aaron