How to Make a Credit Card Settlement Offer

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Offering a credit card settlement to your creditors is a useful way to negotiate a reasonable payment term. Making a settlement offer to a credit card company can help you continue to build your credit score and eliminate credit card debt. Typically, creditors are receptive to settlement offers because they want to clear up the credit card debt just as much as you do.

How to Make a Credit Card Settlement Offer

Call your credit card company and tell them that you would like to make a settlement offer.

Let them know the circumstances surrounding why you are making a settlement offer.

Offer to pay 50 percent of your balance due. If your credit card company declines and counteroffers, examine the offer thoroughly. If the counter settlement offer is not what you want, offer to pay 40 percent of the balance due.

Ask to speak with the manager if your credit card company will not accept any of your offers. Discuss with him the options you presented in your initial settlement offer.

Ask if the company will list the debt as paid on your credit report once an agreement on the credit card settlement is reached.

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