I am ,000 in debt from credit cards , charge accounts , and a few bad checking accounts . They are all in collections with an outside agency . I’ve been applying for credit cards and I keep getting denied . I currently have a new job and I don’t know if I should file bankruptcy or just pay these collections and STILL LET THEM SIT ON MY REPORT AND NOT BE APPROVED FOR NO CREDIT . I really am starting to think BK for a fresh start . And I’m not even 20 yet . HELP !
I already had a full secured credit card from a local credit union and thats closed with a high balance and i already had a partial secured credit card from bofa . Should I get like a capital one secured card or Citi secured credit meanwhile while im paying off these collections ? I would like to finance a car soon !

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Has anybody defaulted on their BofA credit cards very recently? If so, how much was your balance (if you don’t mind saying)? And if they sold it to a collection agency, how long after you had defaulted did they sell it off?

I’m asking because I’m about to default on my BofA credit card (over k) and I just got a letter saying that they will consider selling to a collection agency soon after default. I personally would like to deal with BofA’s collection department to settle the debt instead of trying to settle with a collection agency. So I’m wondering what BofA has been doing lately with their large (or small) defaulted accounts.

Any help would be appreciated… thanks

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Hi, I’m 24 years old and I graduated college in 2008. I have student loans totaling approximately ,000. On top of that, I made some bad judgments when it comes to credit and I have the following bills that are in the hands of debt collectors:
- 0 BofA credit card debt from 2005.
- 0 T-Mobile debt from early 2009 (I am disputing this amount – I received an early termination fee after I cancelled my phone contract 2 weeks early because I had absolutely no service in the county I was visiting for 2 months).

I am trying to build my credit score (it is 520 currently) and begin getting out of debt. I earn ,000 in one of the most expensive cities in the country. I have no savings and I currently own no credit cards at all. I’m not really sure how I should start building a healthy credit future.

Should I pay my BofA credit card debt in full? I was told that begining to make payments opens the debt again and it will be on my credit report for an additional 7 years as opposed to being wiped clean by 2012.

What are my best options for beginning to pay off my students loans (they are all government loans)? I am currently paying around /month, should I pay more and forget about my other debts?

What are my best options for beginning to save? Should I just open a traditional savings account or should I look into other options?

How I can I get negative things taken off my credit report? Can I get negative things taken off by the creditor once I settle the debt in full?

Thank you in advance for any help/advice.

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I was unemployed for a year and got a little bit behind on my house payments. I finally found a job that paid half of what I used to make, but was unable to make the entire payment so I applied for a modification from BofA and from WF (HELOC) and was given a temporary modification. However, every month, BofA reports it to the credit bureau as "paying late", even though I am paying on time. Now, WF has raised my monthly payment, which I cannot afford, or they want me to pay the entire ,000 loan in full. They have reported it to the credit bureau as "charged off as bad debt". What are my options? Other than these two debts, mortgage and heloc, I have no other debt. Can they come after me and garnish my wages? Should I file bankruptcy? Should I sell the house on a short sale?

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I’m 23 bills include BofA credit card which they are taking me to court for..Personal Loans…Medical etc..
Some people say its to little other people say start clean what do you think?
BTW because the debt is so little I was gonna have a paralegal/typist do all the forms for me at 5 im worried when I get a job they are gonna garnish my wages

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I owe Bank of America k on an unsecured line of credit. I borrowed k on the line of credit a year ago at 5% to remodel a foreclosure I bought. The market turned 4 weeks after I bought the home last Sept 08. I finally sold the home for a huge loss. During the process, I was never late on a payment and I still have never been late. BofA jacked the interest to 12% and place credit insurance on the balance without my permission. I had them remove it and they still made me pay them 0 for the one month they had it on. Dirt bags!

I took less than I owed on the house just to get rid of it. I now have in my possession a check from the sale of k. I want BofA to settle for less than this check.

How do I do it – Will they do it? Who should I call? I have k toward a k debt and I am not late. I am calling them in 24hrs to start negotiating. What do I do?
Additional Information: This line of credit was never secured with real property. It was always unsecured, hence, BofA does not know how much my check is for. Look, I am not trying to be dishonest or rip anyone off. I want to give them every penny I owe them but unless I aproach them on my terms, they will continue to take advantage of me. All I want is a level playing field.

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