Comments on: Can I cut my credit debt in half by paying it at once? http://www.reducecreditcardbills.com/credit-cards/can-i-cut-my-credit-debt-in-half-by-paying-it-at-once/ Eliminate Your Debt From Credit Cards Fri, 18 May 2012 06:51:13 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: John Wanderer http://www.reducecreditcardbills.com/credit-cards/can-i-cut-my-credit-debt-in-half-by-paying-it-at-once/comment-page-1/#comment-760 John Wanderer Wed, 06 Jan 2010 22:10:40 +0000 http://www.reducecreditcardbills.com/credit-cards/can-i-cut-my-credit-debt-in-half-by-paying-it-at-once/#comment-760 They'll probably let you pay $6,300 if you insist. They’ll probably let you pay $6,300 if you insist.

]]> By: melinuxfool http://www.reducecreditcardbills.com/credit-cards/can-i-cut-my-credit-debt-in-half-by-paying-it-at-once/comment-page-1/#comment-759 melinuxfool Wed, 06 Jan 2010 12:54:35 +0000 http://www.reducecreditcardbills.com/credit-cards/can-i-cut-my-credit-debt-in-half-by-paying-it-at-once/#comment-759 Such settlements will hurt your credit rating. If you have that kind of cash lying around, why don't you just work toward paying the cards off. You borrowed it and rightfully owe the money. Even if it's not convenient, it's still the right thing to do. Such settlements will hurt your credit rating. If you have that kind of cash lying around, why don’t you just work toward paying the cards off. You borrowed it and rightfully owe the money. Even if it’s not convenient, it’s still the right thing to do.

]]> By: andy http://www.reducecreditcardbills.com/credit-cards/can-i-cut-my-credit-debt-in-half-by-paying-it-at-once/comment-page-1/#comment-758 andy Sun, 03 Jan 2010 06:26:34 +0000 http://www.reducecreditcardbills.com/credit-cards/can-i-cut-my-credit-debt-in-half-by-paying-it-at-once/#comment-758 You could try to see if the credit card company will settle for less but then they will cancel your credit card and report to both the IRS and the credit reporting companies what they did so you could owe income tax on what they wrote off. It would be best if you have the $6400 to pay it all of at one shot. If you have $5000 then put this towards your credit card and make larger then minimum payments to pay it off. You could try to see if the credit card company will settle for less but then they will cancel your credit card and report to both the IRS and the credit reporting companies what they did so you could owe income tax on what they wrote off. It would be best if you have the $6400 to pay it all of at one shot. If you have $5000 then put this towards your credit card and make larger then minimum payments to pay it off.

]]> By: MadMan http://www.reducecreditcardbills.com/credit-cards/can-i-cut-my-credit-debt-in-half-by-paying-it-at-once/comment-page-1/#comment-757 MadMan Thu, 31 Dec 2009 20:29:07 +0000 http://www.reducecreditcardbills.com/credit-cards/can-i-cut-my-credit-debt-in-half-by-paying-it-at-once/#comment-757 No, the credit card company will only accept a reduced balance offer if you are several months in default (ie no payments at all). Your credit will then be toast and you will get a 1099 from the card issuer for the forgiven amount on which you will have to pay taxes to the IRS and state and local. No, the credit card company will only accept a reduced balance offer if you are several months in default (ie no payments at all). Your credit will then be toast and you will get a 1099 from the card issuer for the forgiven amount on which you will have to pay taxes to the IRS and state and local.

]]> By: David Z http://www.reducecreditcardbills.com/credit-cards/can-i-cut-my-credit-debt-in-half-by-paying-it-at-once/comment-page-1/#comment-756 David Z Thu, 31 Dec 2009 10:40:36 +0000 http://www.reducecreditcardbills.com/credit-cards/can-i-cut-my-credit-debt-in-half-by-paying-it-at-once/#comment-756 what? if you pay it all at once you will have zero. if you pay $5,000 you will be down to $1,400. What are you asking? what? if you pay it all at once you will have zero. if you pay $5,000 you will be down to $1,400.

What are you asking?

]]> By: pagodaboy2001 http://www.reducecreditcardbills.com/credit-cards/can-i-cut-my-credit-debt-in-half-by-paying-it-at-once/comment-page-1/#comment-755 pagodaboy2001 Wed, 30 Dec 2009 16:16:40 +0000 http://www.reducecreditcardbills.com/credit-cards/can-i-cut-my-credit-debt-in-half-by-paying-it-at-once/#comment-755 Your question is somewhat unclear. If you pay all your credit card debt all at once you will have paid it off. Your next statement may have some residual interest that you have to pay. Your question is somewhat unclear.

If you pay all your credit card debt all at once you will have paid it off. Your next statement may have some residual interest that you have to pay.

]]> By: Great Scott http://www.reducecreditcardbills.com/credit-cards/can-i-cut-my-credit-debt-in-half-by-paying-it-at-once/comment-page-1/#comment-754 Great Scott Sun, 27 Dec 2009 07:30:46 +0000 http://www.reducecreditcardbills.com/credit-cards/can-i-cut-my-credit-debt-in-half-by-paying-it-at-once/#comment-754 You can negotiate a settlement with the card issuer. I'd offer 60% of the balance if you paid it off in one lump. You can negotiate a settlement with the card issuer. I’d offer 60% of the balance if you paid it off in one lump.

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