Credit card settlement
1 year ago
Is credit card settlement legal? I missed one emi so they are asking to pay everything in one shot. 66k was my card limit for one month delay penalty is 7k.
I requested for emi option but cannot bear the recovery harassment. Looking for settlement. I am aware that it impacts my credit score but can I do that legally? Bcz I heard from debt settlement agency that I can go for 35 to 40% settlement. Not sure if this works or its fake.
A.Dear client. It is true, credit card settlement is legal. However, debt settlement is the right choice for some people, but keep in mind that it will lower your credit score and make it harder to borrow money in the future. Even if you do qualify for future credit, your interest rates will be much higher than they would be if you had an excellent credit score
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