I went with the previous advice and chose to let the delinquent account go into a charge off status. What will Omni Credit Services generally accept as a settlement amount?
I previously inquired about what to do about a debt I owe on a defaulted store card due to job loss. I decided since it had been so long since I made a payment that it was best for me financially to let the account to go ahead and charge off. Now Omni Credit Services is collecting on the charge off and is blowing up the phone on a daily basis. So, since it has been charged off I would like to try to settle the account. About half of the amount owed is from interest and late penalty fees for all delinquent months. My question is what percentage of the total debt will Omni Credit Services settle with me on?”
The real question is how much can you afford? Anything outside of that amount would be impossible.
Maybe you can post some additional details in the comments.
How much is this debt for, what is the current balance?
How much cash on hand do you have to offer towards this debt?
You might also want to post this question in the debt settlement section of the forum and a debt settlement professional will probably answer you there as well.
Please post your responses and follow-up messages to me on this in the comments section below.
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