When credit card companies decide to sell off their “bad debt” to debt collection agencies, it is not unusual for credit card companies to sell the debt for as little as ten cents on the dollar. This is not to say that credit card companies will agree to “settle” credit card debt for as little as ten percent of the amount owed, but it stands to reason that credit card companies are often willing to accept a reasonable offer from consumers in distress who offer to pay what they can afford.
A free debt relief analysis can provide a savings estimate for credit card settlement. How much debt settlement could save depends largely on the amount of credit card debt involved, the debtor’s current financial situation — and the settlement
policies of individual creditors.