The Burkes Outlet Credit Card phone number for customer service is (866) 308-0681. By calling this number, you will be connected to a live representative who should be able to answer your questions or direct you to the appropriate department.
How to Call Burkes Outlet Credit Card Customer Service
Call the Burkes Outlet Credit Card customer service at (866) 308-0681 or the number you see on the back of your card.
Say “I don’t have it” when prompted to enter your credit card number or your Social Security Number.
Wait until you are connected to a live representative.
If you can’t or don’t want to talk to the Burkes Outlet Credit Card customer service over the phone, you can always connect with customer service online by sending a secure message. Lastly, you can contact them via mail at:
Comenity Bank PO Box 182273 Columbus, OH 43218-2273
Reaching the Burkes Outlet Credit Card customer service via mail will take the longest. Still, if you choose to do it, you should include your card number in your inquiry, for faster processing.
Credit card debt insurance typically helps you cover your credit card’s minimum payment for a specified period of time if you’re affected by major events like disability, job loss or death. In order to enjoy the coverage when you need it, you will have to pay a monthly fee to keep your credit card debt insurance active.… read full answer
The type of relief provided by credit card debt insurance varies by credit card issuer. For example, the issuer could pause your card's interest charges and late fees, as well as continue to report your account in good standing to the credit bureaus.
In any case, credit card debt insurance – sometimes referred to as payment protection - can help to preserve your credit health. But it may only cover your account for a limited amount of time, depending on the nature of the event and the terms of the issuer.
Major Events Covered By Credit Card Debt Insurance
Leave of absence
While credit card debt insurance might seem appealing, there are a few things you should consider before you decide to opt for it.
Pros and Cons of Credit Card Debt Insurance
Your account reports as current to the credit bureaus, protecting your credit score
Protection comes with a cost that will be added to your monthly payments
Interest charges and late fees may be suspended
Cards are insured individually, so, there is an added cost for each card
Your balance will be wiped out in the event of your passing, leaving no financial burden for your heirs
Not all emergency situations are covered or purchases made after the claim
Credit card debt insurance isn’t worth getting in most cases, as you may already be covered by another policy, such as term life insurance or long-term disability insurance. Even if you don’t have such coverage, saving the money you would pay for credit card debt insurance to build up an emergency fund might still be a better option.
Also, during times of emergency, issuers often offer forbearance programs. These programs typically offer lowered interest rates, repayment plans and more. If you’re having trouble paying your credit card bills, it’s worth contacting customer service to inquire about such options.
To negotiate credit card debt for less, start by figuring out how much you owe and how much you can pay, then come up with a plan of what to ask for, and trade offers with your creditor until you come to an agreement. Learning as much as possible about how to negotiate credit card debt ahead of time is the best way to increase your chances of coming out on top. There are just a few simple steps to follow.… read full answer
Here’s how to negotiate credit card debt:
Figure out how much you owe. You should have a clear sense of what debts you have and to whom you owe them.
Determine how much you can reasonably pay. Think about this in terms of both a lump sum and monthly payments. Also, figure out what it would take to bring your account(s) back to good standing.
Decide what type of resolution you want. When you’re overwhelmed by debt, you can pursue a few different solutions with your creditors, including debt settlement, a forbearance program (if your hardship is temporary), and debt management. Debt settlement is the process of negotiating repayment for less than the amount that you owe; the remaining debt is forgiven. A forbearance program is a good alternative if you’re experiencing financial hardship due to a temporary loss of income and want relief until you can repay the full amount. Debt management is a restructuring of your current debts under a more favorable rate.
Research other people’s experiences with the party handling your debt. You can figure out who is handling your debt by referring to the most recent notice you received. This research will give you an idea of what has and has not worked with your creditor or debt collector. Make a list of successful methods that you can apply yourself.
Come up with a plan for negotiation. Make sure you have both an initial offer (your best outcome) and a final offer that you’re not willing to go beyond. Do a bit of rehearsing, playing out various scenarios so you’re prepared for any questions and counteroffers.
Contact the party handling your debt. Explain why you’re finding it difficult to make payments, emphasizing any factors out of your control, like the loss of a job or sudden medical bills. Express your desire to pay what you can, just with a little flexibility.
Present your offer. Explain why it’s mutually beneficial. Listen to their counteroffers, if any. Always be polite, as friendliness can go a long way in negotiations.
Get an agreement in writing. If you can come to a compromise, make sure your issuer sends you a signed written statement agreeing on the new terms.
Every person’s situation is different, so it’s hard to give specific tips on the ideal solution for you without knowing how much debt you have and what’s preventing you from paying it. But as long as you make a well-thought-out plan and communicate with your creditor, your chances of success will definitely improve.
How often does credit card negotiation work?
Success rates vary by the type of debt solution. Debt settlements are only successful about 10% of the time since creditors have no obligation to settle. They only agree to a settlement when it’s their only option of receiving money back.
The success rate for debt management is around 20%; the success rate here is low because individuals who choose these plans must have the discipline to stick to a payment plan over 3-5 years. Additionally, debt management programs require you to enroll all of your debt, so it can be difficult to reach an agreement that all of your creditors agree on.
You’re more likely to experience success with a forbearance program; creditors would rather lose a little money in the short-term while you get back on your feet than have you default on your entire debt.
It’s important to note that if you’re dealing with an old debt, or there’s any doubt about the accuracy of your balance, be careful not to admit that you owe the amount in question or to make any new promise to pay. Doing either could reset the statute of limitations, giving the debt collector a better chance of suing you and winning.
Debt settlement is worth it when a fair settlement can be reached quickly, allowing the borrower to satisfy their obligation for less than the full amount due by making a lump-sum payment that they can comfortably afford. It’s best if the borrower does not need a good credit score for anything important, such as a mortgage application, in the months that follow, either. But debt settlement involves an enormous amount of risk. There’s the risk that creditors won’t agree to a settlement, since they have no obligation to settle. There’s also the risk that they’ll sue the debt holder for payment.… read full answer
Only about 10% of debt settlement cases are successful. When a settlement can’t be reached, debt holders are still responsible for the entire debt, unless they pursue an option like bankruptcy. There are a few scenarios in which debt settlement may make sense and therefore be worth it, however.
When Debt Settlement Could Be Worth It:
When you’ve explored your options through credit counseling. If you’ve explored all your options for debt resolution through credit counseling and feel debt settlement is your best option, it could be worth it. A counselor at a credit counseling agency can use your financial documentation to present you options and develop a debt management plan. Since the initial consultation at a credit counseling agency is generally free, you really have nothing to lose.
These debt management plans are generally preferable to debt settlement, as they do less damage to your credit. An important exception is when you can’t afford the monthly payment under the plan. If that’s the case, debt settlement might be the better route to take.
When you’ve already missed payments. If you’ve missed payments, debt settlement could be worth it. You’ve essentially started the debt settlement process by allowing your accounts to become delinquent. It’s not wise to stop payments intentionally, as this lowers your credit score, but settlement could be a way to make the best of such a situation.
When the math makes sense. If you can save more in debt forgiveness than you spend in fees and taxes, debt settlement could be worth it. If you use a debt settlement company to negotiate with your creditors, make sure you have a clear understanding of their fee structure. Once you know how much of your debt will be forgiven, you can also estimate how much federal tax you might owe based on this portion.
When you have enough money to settle. If you have enough money to make an attractive settlement offer, debt settlement could be worth it. Since creditors have no obligation to settle, they will be more likely to agree to a settlement when you have enough cash on hand for a lump-sum payment.
When speed of resolution matters. If resolving debt fast is an important factor, debt settlement may be worth it. When comparing it to debt management and Chapter 13 bankruptcy, you can save at least a year when you pursue debt settlement. It’s important to note that Chapter 7 bankruptcy can resolve debt problems in 3-6 months, so debt settlement is less favorable in that matchup.
When you don’t mind damage to credit. If you don’t mind damage to your credit, debt settlement may be worth it. Credit damage is inevitable with debt settlement, first as a result of missed payments, and ultimately through the reflection of a settlement in your credit history. If credit damage does not faze you, debt settlement could make sense as a means to resolve your debt.
Debt settlement is worth it when the risks and rewards align with your priorities. The process of debt settlement will send your credit into a nosedive and ruin your relationship with your creditors. You also risk getting sued and the creditor refusing to settle. On the other hand, you could potentially resolve your debt problems by paying a fraction of the amount owed. Compared to debt management, you could save years in time and thousands in cash. It all comes down to your circumstances.
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