Negotiating with the bank for defaulting on credit card payments

Dear Questioner,

Please note that the banks tend to make decent discounts on personal loan and credit cards as per my experience.

The percentage of waiver and all depends upon the banks. I will not be able to advise on this point.

Please approach the bank directly and discuss your situation for final negotiation.

Please note that if the bank settles the amount for a lower amount, your credit score will be affected.

Thank you.

Regards,

Rajasree Ravivarma