I have a few delinquent credit card accounts, each with balances of around ,000. What is the lowest amount you think I can negotiate with each bank to settle the debt for? One of my credit card accounts is with a collection agency also. Will a collection agency usually take less than a bank?
Do you think I can settle for less than 20% in either scenario? Thanks.
The law firm office keep on calling me and they wanted me to pay 5k for my credit card. But I dont have any job and no savings. Thats why I wanted to file for bankruptcy.
First they broke the Heppa Law, showed me my parents accts, in a private office on a computer.2nd,I filed for perm disability,they were to stop my automatic transfer of funds to a savings(you cant have a savings going through filing)the bank did not took them 6 mo. I went without an income due to there error.3rd, this caused my credit card accts to fall behind, I could’nt get caught up4th I started a re-fi with Wells Fargo ( my house is with them)I had a 785 Fico at this time.Long story they backed out,after stating I had the re-fi no problem I have the paperwork to prove this.I now have a judgment from a credit card co,my income went from 65,000 to 12000 a yr.I now have to pay to go bankrupt so I do’nt loose my house which is paid off in 7 yrs.
I was recently personally served with legal papers, Petition for Confirmation of Arbitration Award with a hearing date of August 8, 2007. This was from MBNA credit card, asking for ,800. I owe them about ,200. I would like to settle with them before judgment gets confirmed with the courthouse to avoid wage garnishments and liens. I am the major breadwinner of the household and would like to know if it is best to settle with them before the court date or to have judgment confirmed and then settle with them at that time. I wish to keep my financial issues private and not be known by my employer (I work in the legal field). A year and half ago, I signed up with a debt management company to assist me in consolidating and settling all of my outstanding debt. When I discussed the matter with them, they said that I should file an Answer, but the document is not a complaint, but a petition. What proper reply or opposition should I file while discussing settlement with MBNA? Thank u
i contacted a debt consultant and was told that i can decrease more than half of what i currently owed the credit card. but the program required me to stop making paying and wait for their negotiation. i know that’s going to affect my credit really bad, but how about after i settled all the debt, would my credit comes back up? i am planning to buy a house in the near future, would the lender see this as a negative? or should i not use to program if i am planning to buy a house?
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?
I have about 25,000 dollars in credit card unsecured debt. I live at an apartment. I do not own any houses. The only asset to my name is my car and my 401k from my company work about ,000. Is it possible to file for bankruptcy and not liquidate my 401k and my car? I make about 55k a year and the monthly payments are very difficult to make.
I was served with a debt collection summons in the state of NY. It’s from a credit card that had a balance of 500.00. They are saying that I owe 825.50 with all the legal fees and intrestet. I am going to call them and settle the debt in one payment. Will the summons affect me in anyway still once I have paid it off?
I am broke and cannot pay all of my bills. I just found out I am pregnant. My boyfriend and I are gonna get married but I don’t want my credit affecting him. I want to file for bankruptcy first but don’t know how. Also, will I lose my car? I have a car loan, a computer loan, and a victoria’s secret credit card that I would like to keep. I can afford to pay those. Just not everything else. Will I be able to do that?
A lot of bills, unemployed, it’s too much now
I had to put a lot of my college tuition on credit cards because I expected I would find a job after (graduated 08)
Bank of America after that new law was passed for banks and/or creditors to increase their rates
my monthly payment went from 150$ to 300$
I have 1,000$/mo. in bills and only make 600$/mo from unemployment
I’m wondering if I can kind of selectively go bankrupt on this
I figure if I just don’t pay that I’ll only be at a negative 100/mo
I live out of my car and don’t eat much so gas/food is pretty low.
Only I usually had to put them on a credit card. A different card.
Not paying this one bill will probably cut off my other cards too?
I have really good credit and I was hoping to hold on until I could find something but I can’t and once i find a job I’ll have another 500$ in student loans.
I either need a good paying job or 2 or 3 regular ones but I have to acquire them at the exact same time because of that student loans. Right now I can hold up some of it with unemployment deferment
not sallie mae, you can’t defer private loans for any reason
I’ve already sold most of my things. It doesn’t hold up too long
I just want to stop paying bank of america
How bad will it be?
PLEASE READ THIS DETAIL! I really need advice…
Just today while my mom and I were in the car, we just came from the grocery store and were talking. We talked about how the people on section aid and government aid were able to get SO MUCH food, dress better than us, and even sometimes live better than us. We live in a nice city bungalow home in a nice neighborhood next door to a University, but I’ve noticed that getting groceries every month is a struggle with all the bills that needed to be paid and any other additional thing I might need for school, etc.
My mom has a job that pays quite well per hour, but they tax her A LOT. She is taxed for senior citizens (because in the past her job took out money from the previous employees pension check so now the current workers HAVE to take out money for their wrong doing), taxed for city, state, pension, and the optional dental and doctor insurance (but who wants to live without those necessary things!?). So by the time she receives her first check, it ALL goes to the mortgage bill for the house. Her second check goes to house hold bills (light, gas, water, telephone, cellphone, car, etc.) Leaving us with very little money to live off on. She has tried receiving some kind of government aid to help pay for the gas and light bill, but they said she was making too much money…which isn’t true AT ALL. They’re not looking at how much she’s being taxed and how much she has to pay for bills.
Anyway, my mom got upset and told me, "Once the job lets me go (they are firing her on my birthday because of the ‘financial crisis’) I will blow up my credit card and pay off the house, the car, and some of your college tuition for 2 years. After that, I will file for bankruptcy because I’m tired of doing the right thing, but get nothing for it. I’m always getting screwed over. We have to work REALLY hard to get just what we need when people on section aid and government aid don’t have to work as hard to get what they need or WANT." I explained to her that her credit score was PHENOMENAL and she shouldn’t make that decision because she worked YEARS to have such a great score. But she said she didn’t care. She was tired of it. She said it wasn’t going to affect me in any kind of way so why should I care? …I got really sad and wanted to cry to think that she wanted to give up like that and even think negatively like that, but could you blame her? My mom has always made the right decisions financially. She bought her first house when she was 18 and has NEVER missed a payment on it. We lived there until I turned 12 and moved to another house with a better neighborhood so…i don’t know what’s gotten into her.
What should I do? Is it in my right to tell her to make a better decision? I’m a senior in high school so what can i do?! I don’t want my mom to stoop so low….please, help me. Serious answers, plz. :’(
I had a credit card with Chase and their attorney sent me a letter saying I have 30 days to dispute or else they will take legal action. They said they will garnish my wages and also put a lean on my house? Is this legal?
Basicly whats going on is i lived with my grand mother for a very long time, and im moving out just applied to my second apartment would of got it till i found out for some bull crap reason HER eviction is on my record for credit i never paid rent for her, never owned a credit card never owned a apartment house or anything never did anything wrong for credit but because i lived there for 2 years i get put on her eviction? and now shes going bankrupt so is that crap going on there as well? my sisters have it on their record i cant get a apartment with it on there since its not even a month old and with it showing have no possible ways i called credit companys they can never pull up my record for some reason what can i do to fix this and get a apartment?
I am going to file chapter 7 bankruptcy and I have a joint credit card between myself and my son. What I would like to do is keep the credit card so I still have something for emergencies after I file bankruptcy. Do I have to list the joint account when filing bankruptcy? Because I would like to keep it open and keep making the payments as usual, and if I did list it could that effect my sons credit, even if he makes the payments, since he is joint on the account,?
I recently declared Chapter 7 Bankruptcy. I re-affirmed my Auto Lease. Will this help to re-build my credit score? I’ve heard the "get a credit card and use some and pay-off or keep 10%" idea. But can the lease have the same effect without having to open another credit card agian? I am looking for the easiest way to build credit without a credit card. But if i have to, i guess i will.
when i spoke with the"JERK" of a guy on the phone he said "Oh we were told by our managers that those letters were sent out by mistake and really we can only take 35% of your debt owed"?? First of all the debt is for 6.04..and really i dont even remember this credit card they say i had? He asked from my phone # i told him they already have it cuz they call me twice a day already…he said no i dont have it and i just hung up!! Can they do this? What are my options?
I HAVE BEEN TOLD THE SO CALLED FREE CONSOLIDATION COMPANIES ARENT REALLY AND THEY ARE WORKING FOR THE CREDIT CARD CO. IS THIS TRUE? WHAT IS THE BEST OPTION TO PERSUE?
planning to file bankruptcy in a few days but need a few things will i get into trouble for using credit card that i’m planning on keeping?
I have a credit card that started charging me 30% interest two years ago. (I have good credit and was always on time). I pay them about 0/month for the past two years, haven’t used it, and they say I have 0 available. I have a chunk of $ to offer them to settle this and close out the account. I am not delinquent on the account, but there are a lot of months I am borrowing against my paycheck to pay it. If I couldn’t do that, i’d be delinquent. (Like everyone else, I’m just being squeezed to death by the economy and am feeling the strain).
I’d like to call and offer them 70% of the amount. I feel they’ve gotten the rest of their money and more in interest alone. Would it be possible for me to get anywhere with them at this point?
How do I go about doing it? (If you’re going to give me a lecture, please don’t bother, I’m just looking for some info.)
Thanks.
I would like to keep 2 of my credit cards but don’t know if they allow this under the chapter 13 laws. I know that when filing on your credit cards they close after you paid them off and I would at least like my Sams credit card and Providian to stay opened during this process and continue paying on these two normally. I am not sure if they will allow this. Any adivce?
This sounds a little tricky but it’s not really. I am planning on filing bankruptcy in November as a result of a writ put on my bank account due to a credit card that wasn’t paid off (and I was never served the papers for).
I currently live in PA but will be moving to NJ in October which is in my favor pertaining to the BK I learned. Also I am adopting my cousin’s child who will be coming to live with me in Nov. I was told to wait until he is here to file because that will also help my case. My main concern is that I don’t want it to go to a chap 13 BK.
Any advice on what I can do right now to help set myself up for making sure it becomes a Chapter 7 Bankruptcy would be appreciated. Thank you for your help. Any spam answers, pointless one word answers etc.. will be reported.
Thank you,
Mary
I am a student. I’m currently 000 in debt, should i file bankruptcy?
i am so worring because if it would effects to get my future student loan. Please help..!!
here is my current debth list:
credit card: 00
student loan: 00
collection debt: 00
difference on a car repossession: 000
Due to domestic violence in my home, I left my marriage. I drew up a proposal to my (soon-to-be) ex regarding our MASSIVE debt which left me with one medical bill of ,000 (not including interest) and two credit cards of over 00. I also left with only what I could fit in my car and left all our furniture and assets to him. I don’t work full-time, though I’m going to try to soon and I just CANNOT pay these debts. I have no problem with the idea of bankruptcy for myself…however, NOTHING is in my name except our Bank of America overdraft protection credit card and he works for a financial industry and told me that if he has a bankruptcy that he’ll loose his securities license and then his job. It’s not my goal to be malicious and cause that – but I can’t pay these bills. Will it be better for me to wait until the divorce is final and then file bankruptcy on whatever debts the judge gives me? Any advice? I don’t know what to do.
i want to file for bankruptcy, but before i do that i was wondering if it’s legal to purchase certain things with my credit card. For example, i want to buy an Xbox 360 and some games for my children, a camera, an I touch, and some clothes for my daughter with credit card. And after i purchase those items, i would file for bankruptcy. is that legal or illegal?
I owe a large amount on my credit card and have not made a payment in sometime. I now have a lump sum of money and wanted to see if the cc company would negotiate on the amount owed. Much of that amount is late fees. Can anyone help me?
I was scammed useing paypal 00 I recently sold a gaming account and i made a purchase already. my account is -00 And i can not afford to pay it off. What can happen to me and will i go to jail? They filed a claim stateing that the paypal account they used was someone elses. And if they paid with a credit card useing paypal. paypal will not let me win the dispute because of there eula wich states they will not interfier with other payment options in there system. The account that i sold is against the games eula aswell your not alowed to sell the account or buy it. If paypal files a claim to the collection agency against me will i go to jail if i can not pay it? I can not afford it i needed the money hense why i sold the account in the first place. Can i go to jail for this? Can i file bankruptcy as an alternative towards this if the matter escalates into something serious?
I am very deep in debt, mostly on one credit card. Should I hire an attorney to negotiate a settlement for me with the bank? If so, how will this affect my credit score?
I care about my credit because I would like to buy a condo within the next year or two.
I have 2 balances 6,900 that is in collections with a law firm > threatening to go to court. They are offering to settle for 3,500. The other credit card is 6,600 and is not in collections – they are offering to settle for ,300. Does it hurt your credit & for how long if I Settle my Debt?
I have maxed 2 of my credit card. each at 18% p.a. if i take up a loan at 12% p.a. to settle both credit card & only make 1 repayment towards the loan.. is it worth it? from 1 point of view, its basically creating debts to settle debts. but on the other hand.. it is at a lower interest rate.im confused!
Hello,
I owe about 000 on a credit card, but I have never been late or missed a payment. The bank recently changed the minimum payment from 2% to 5% and that will make it hard for me to meet the minimum payment. My credit score is in the low 700’s
I called the bank and complained about it and they said that I have two options:
a) Payment plan with an interest rate af 12% for 60 months; I’m sure I can get a better rate from my local credit union.
b) Settlement, ,000 that can be paid in 2 installments.
I’m very tempted on taking the settlement, but how is it going to affect my credit ranking? I really don’t expect applying for anything in the next few years, but you never know. I know I have to pay taxes on those ,000
Thanks for your input.