I apologize in advance for the short response. I am currently away on vacation with limited internet but wanted to give you an answer as soon as possible. Steve
I currently owe $2600 on a credit card, which over $800 of it was fees from over a year ago. i went on a payment plan where i was told they’d take away some of the fees. once i completed it and paid $60 a month for a year, they reopened my card without removing the fees. out of principle i refused to pay the past two payments thinking they’d do what i was told. they didn’t. but now i’m in a situation. i will not let it go 3 months late but dont want to waste my money. they offered to close my acct at a discounted amount.
How will this affect my credit if i go that route. or should i just use that money to buy down my debt and make monthly payments
So let me just get clear on this, what you are upset over is that you ran up a debt and they charged you fees. They did not remove the fees as they said so in order to show them you stopped paying the card? An interesting approach.
You had a year of rebuilding your credit under your belt and then you sabotaged it. Not something I would have recommended.
By stopping paying you’ve trashed your credit again. Hell, in for a penny, in for a pound I guess. If you can afford to settle the debt at this point, consider doing that. That will hurt your credit but it will also end this situation. Now, they’ve proven to lie to you and not be reliable, please get the offer to settle in writing and keep your paperwork, for ever, that shows you paid this off.