What to Expect When a Credit Card Company Offers a Reduced Payoff

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When a credit card company offers a reduced payoff because of a hardship situation, contact a professional to help handle to potential problems that come along with such a deal. Understand that credit card companies just want to make money with insight from the owner of a debt settlement company in this free video on credit cards.

Part of the Video Series: Credit Card Debt Information
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Video Transcript

Hi. My name is Peter Repak. I'm the owner of Clear Financial LLC, a debt negotiation company. What to expect when a credit card company offers a reduced payoff? That means you're going to pay less. Is it really a good thing. Well, it really depends. If you're in a hardship situation where they already offered you one; of course, a credit card company is not going to offer you any reduced payoff unless you're in trouble. Unless they know that they probably not going to get their share what thought that they going to get from you. What you really want to do at this time, even before you get to it, you definitely want to give us a call because you need a professional to help you on this. Even if sometimes the credit card company gives you an offer, sometimes they don't keep their end of the bargain. They tell you that your $10,000 debt is going to be paid off with, let's say $2,000. Sometimes you pay off the $2,000 and they will send it back to you that, thank you for your particle payment. So they're simply not going to keep it. Remember credit card companies are not your friends. They are there to get your money and get as much of it as they possibly can. However, this is the exact reason why you really want to give us a call. Get a professional who can actually help you with this particular problem and can handle it in a professional manner and keep you safe at the same time. My name is Peter Repak. I'm the owner of Clear Financial LLC, a debt negotiation company. Thank you for watching.

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