How much write-off will a credit card company give?

I want to offer a payoff on a five year old account owing ~$13000. How much is Discover likely to forgive me?

How much write-off will a credit card company give?business loan

There is a little known item called the Statute of Limitations. In other words, if you are in the U.S. and this debt is old enough (depending on your States SOL) the debt has expired. As another person here told you, the credit card company has already written off your debt and a third party company bought your debt for pennies to the dollar. They will get whatever they can from you.

So, what this means in plain English is, and I%26#039;ll just jot down a couple of States for example;

Arizona and New Hampshire, for credit cards the SOL is 3 years. That means the debt is no longer collectible and you can tell them that if it%26#039;s over 3 years old.

This is worth repeating, each State has it%26#039;s own SOL so do your homework before telling the third party that the statute of limitations has run out on your debt, and to stop all communications with you. However, once you know for sure, that%26#039;s it, end of story. Check with an attorney for the rules of your State.

After you fix it, don%26#039;t get anymore credit cards or loans that you cannot afford to pay. By the way, I am only referring to credit cards not loans so be sure and check with someone first.

I%26#039;ll send you my bill, lol.

How much write-off will a credit card company give?

loan

not much if anything. you should call a financial advisor to help you settle with them.|||try asking discover|||They could take off the interst incrued.|||First, After 5 years, I do not think its Discover any more.

So, if I were you, I would offer, whoever own the Debit, the lowest amount that you can afford to pay. Keep in mind, they would want that amount in lump sum. Good Luck.