Settling your credit card or other debt can be an uphill battle, but there are some companies that are willing to negotiate your balance. Some agents do understand hardships and will work with you to pay down or eliminate your debt for a lump sum. Of course, there are also many banks and credit card companies that will turn you away and not even consider your situation. Here is some general information that can help you deal with the toughest banks in San Diego.

Toughest Credit Card Companies In San Diego

Credit Union Debt: Many credit unions operate at a hyper-local level – or only deal with consumers in certain industries or professions. For this reason, these firms have default or collection policies that lead them to turn to litigation sooner than larger national banks. Another issue in dealing with credit unions is that you may have other products with them that tie into a loan or credit card. If you miss a payment, you might lose insurance benefits that you’ve contracted for with the company.

National Banks: Large institutions can be tough to deal with when looking at debt relief or settlement. The approach a national bank takes to negotiations depends on a number of factors.

  • Internal Collections: These departments have certain set policies for handling settlement discussion, and often cannot break the rules on lower payment offers. Agents may also be restricted as far as when they can offer relief.
  • Third Party Collection Companies: National banks often use external companies to collect debts once internal collections departments have exhausted options. These third party firms have their own regulations, so there may be wide variation over how tough they are to deal with.
  • Charged Off Accounts: For certain debts, a national bank may sell off accounts to a debt buyer who becomes the “owner.” Banks have different rules on account types they consider for such an arrangement – or if they even sell them off at all.
  • Litigation: Taking you to court is usually the last resort for a national bank, as litigation is expensive and time-consuming. These companies also have rules as to how and when accounts are placed with attorneys authorized to sue for collection.

Recent Purchases & Financial Transactions: If you’ve recently transferred an account balance to another account, you might have a tough time settling with a bank or credit card company. The same is true if you’ve made a large purchase recently, namely, one that represents more than 20% of your total balance. Finally, if you’ve recently opened a credit card account, it may be difficult to work with the company holding your debt. Some banks set limitations, such as accounts that are less than 1-3 years old.

This information should help you when you need to approach the toughest credit card companies in San Diego about resolving your debt situation. However, it’s also wise to consult with an attorney or debt professional. These experts have the experience and background to negotiate with aggressive collection companies, and can help you work out a reasonable arrangement to pay your balances.

Daniel R. Gamez, an attorney focusing exclusively in debt settlement, is licensed to practice in all state and federal courts in California and Texas. Mr. Gamez owns and operates the Gamez Law Firm in La Jolla, CA. For more information, please contact Daniel Gamez at 858-217-5051, or visit