is it okay to settle my $1600 debt?
So I opened a credit card as a freshman in college (2008) and ended up losing my job and never paid off the debt. Collection agencies have been blowing up my phone and sending letters trying to collect the almost 00 that I owe. I am presently unemployed due to health issues and have no way to pay off all the debt now. They are offering me the option of settleing the debt but i dont want it to ruin my credit score. what should i do?
I have no other credit cards in my name, only the hospital bills i have been paying on from three surgeries and the hospital stays and what not. will paying these bills on time and in full help my credit score?
Posted August 10th, 2010 in Debt Settlement. Tagged: credit card, credit cards, credit score, debt collection agencies, freshman, health issues, hospital bills, job, surgeries.
Your credit is shot anyway because of the bad debt; with that hanging over your head you will never get decent credit.
Settle it and get a start on building for the future.
August 10th, 2010 at 4:38 amyou have 2 optinons
pay it somehow
or settle it
August 10th, 2010 at 4:38 amSorry to say that you have to pay your debt any how otherwise they will go for court.
A debt collector will call you again and again four immediate payments. Do not take any decision immediately.
The best option is negotiation with collection agency for your debt. Do not go for what debt collector says, keep yourself cool and focused on the negotiation. Control on your sound while negotiation.
The best thing is that you have to fill all collection letters in a sequence way and keep details of each collection call on your notebook.
And be remember you have to take proof of payment agreement in written every time when you pay the installment.
You can also contact National Asset Management http://www.nationalmanagement.net/ for your Collection related problem. Nam is one of the best caring agency in the field of Collection agency. They will help you to get out of your debt by paying a little amount of your debt. I have student loan of 22k NAM help me to get out of this. I feel very much cool after getting off from my debt.
August 10th, 2010 at 4:38 am