I have several collection accounts and charge offs. Will it raise my credit score if I settle the debt for less than I owe?

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I recently settled my last credit card debt….I was over 9 grand in debt and ended up settling each one for lower amounts than I owed…which I know is bad. After I settled each one (5 total) they closed my account with them. Now I am debt free…I know my credit is screwed….did they put charge offs on my credit for settling my delinquint accounts? Am I in the check systems?

I would also like to know how I can rebuild my credit WITHOUT using credit cards as I am not mature enough to get another one.
I currently am paying off a financed car….I am on top of those payments….if this helps at all
I just checked my report and its showing up as 4 charge offs…

Technorati Tags: charge offs, credit card debt, using credit cards

charge offs and collections an a judgement

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I am a 64 year old widowed man ,who is in need of a major back operation to be able work,walk,stand etc.for the past six years .Ive seen many doctors and the operations they say I need I dont have the co-pay money even with insurance throw the state I have throw my deceased school teacher wife.(Ive been self emp for years ,and cant keep up,IVE SPENT THE EQ LOAN ON MY house just to stay going ,credit cards are max out and have no way to pay all this,im screwed! anyway I go ,so should file bankruptcy or just let thing go ????? into forclosers and charge offs,my previous good credit will be ruined either way but whats the better way for my further if there is any hope after this ??? I really need some helpfull advise. please !!!!!!!!

Technorati Tags: bankruptcy, charge offs, credit cards, doctors, emp, eq, forclosers, helpfull, insurance, money, school teacher, six years

I have tried it all and can’t qualify to buy. I have ongoing medical bills, unpaid medical bills, charge offs, apartment judgements (2), old repossessions, a secured card that stays maxed out. I am caring for my family of 6 on my income only which is around K a year. I usually have trouble just paying rent, food, car note, fuel, insurance, electricity, water and cell phone and internet (I use it for work).

I don’t even pay for gas service in my house until winter b/c it is only used to power my heater. My student loan debt from my bachelors and masters programs is huge but I have it consolidated. I don’t have a home phone, cable or any of that frivolous stuff. Yet in all honesty, I cannot see myself raising my credit score enough to buy because everything I try I can’t keep up (like the secured card). I max it out on food or gas every month.

Now you know my financial story, would bankruptcy help me? Someone told me not to file because I won’t be able to buy a house for 10 years, but at the rate I’m going I won’t be able to anyway unless I have a rich uncle or a genie.

Technorati Tags: 10 years, apartment, bachelors, bankruptcy, cell phone, charge offs, credit score, electricity, genie, honesty, insurance, judgements, masters programs, phone cable, repossessions, secured card, student loan debt, unpaid medical bills

After talking to an AF recruiter, they stated that I had to be paid up or on a payment plan with creditors to join. If the debt is mortgage charge offs, if I file chapter 13 bankruptcy and a payment plan is worked out with the creditors, will I be able to join? I ask this because after searching, some state that if you file bankruptcy, it has to be discharged before joining. What is the truth?

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I have three charge offs on credit report, and several collection items I would like to take care of. Would bankruptcy be a better alternative?

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