Quote:
Originally Posted by TribalElder
usually to get a lump sum settlement granted you need to default on the loan for a few months so that the lender becomes desperate to recover any of the money.
Once you miss a few months if they are anything like credit card companies they will settle for less than what is owed
|
They are not like credit card companies. As someone else noted, they have a debt obligation that is not dischargeable in bankruptcy, so they have almost no incentive to write off any portion of the loan.
Try if you like, but you're probably going to be arguing with a brick wall.