Comments on: The Worst Way to Make Marketing Decisions http://www.earlytorise.com/2008/11/19/the-worst-way-to-make-marketing-decisions.html The Web's Most Popular Newsletter Thu, 19 Nov 2009 09:45:21 -0400 http://wordpress.org/?v=2.8.3 hourly 1 By: Chris http://www.earlytorise.com/2008/11/19/the-worst-way-to-make-marketing-decisions.html/comment-page-1#comment-1386 Chris Wed, 19 Nov 2008 16:53:07 +0000 http://www.earlytorise.com/?p=4208#comment-1386 Most credit cards will actually settle for .15 cents on the dollar and if you have a good enough story, they will do less. You must remember that when a credit card company (and for that matter and other company) "lends" you money, they are creating it out of thin air, it is not coming from a depositors asset nor their own asset. So even if they get your .15 cents on the dollar, they are still making money. The only drawback with settling is, it will likely ding your credit. Chris Most credit cards will actually settle for .15 cents on the dollar and if you have a good enough story, they will do less.

You must remember that when a credit card company (and for that matter and other company) “lends” you money, they are creating it out of thin air, it is not coming from a depositors asset nor their own asset. So even if they get your .15 cents on the dollar, they are still making money.

The only drawback with settling is, it will likely ding your credit.

Chris

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