SoFi: What to Know Before Settling a Loan with Social Finance 

How late are you on payments? Are there other debts to resolve besides this one?

@@MichaelBovee were not late on it yet. However, yes, there are other debts to resolve besides this one. We're trying to stop the bleeding that the change in our economy has inflicted. We can afford to settle with under 50%, but we can't afford to continue making even the minimum payments as the minimum payments have increased, regardless of locking the cards from being used. The balance decreases by a dollar or two, but the interest is more expensive each month. Over time, the interest has grown unruly. We used to outrun it and stay ahead and pay off balances or come close to doing so, but the effects of the economy in the banking world have begun to creep up to us. We just canceled autopayments on several of our cards to have grounds in a few months for a settlement option. Payment plans would be undoable vs a settlement option. These cards are with cap1, discover, td bank, and Citi. We were additionally hoping to address upstart if there's a settlement option available with that kind of debt or if that's even feasible. Based on your videos, i think we're approaching this properly?

Upstart debts settle. Often with the third party the send an account to. You are welcome to schedule a consult with me to talk about what your settlement path should look like. There are links for scheduling in the video description.

I just discovered your content yesterday and after a deep dive + some note taking, I shared your content with my husband & he was equally impressed. We will certainly schedule a consult- is there anything we should have prepared prior to calling to make it most efficient for you?

Be ready with a list of the debts, balances, and dates last paid. If you input those details when you are scheduling the call (there is space for it), it will save us some time on the call.

Glad you like them!