I know they buy old debt at pennies on the dollar, and I have old cc debt, that WAS only about 6k, but with interest, and then being charged off and continuing to roll for years, is over 20k on paper, according to them. But I didn’t spend 20k, and I know the agencies will settle for much less than that.

I’m looking at ch. 7, but before I commit to it, I want to know what realistically I could pay the various collection agencies to settle it. I feel that a BK attorney will only encourage me to file, and if I call the agencies, they can legally start hounding me and my parents to get ahold of me (I’ve managed to keep my number etc private for years). Where can I turn? And what % do they usually settle for? Thanks so much.
Awesome thank you both, I’m in CA, that site shows SOL is 4years, and I believe it was all charged off in 2006, so it might be past already, I’ll get my credit report and check.

-So, if paying them off won’t improve my credit score, what’s the fastest way that I can bring my score back up? (I assume getting those debts taken off is how your score goes back up), obviously the goal is to get them off and/or qualify for a prepaid cc or some way to bring my score back up, so I can strive for the perfect score I USED to have etc. If you get a chance, email me at christianatheist80@yahoo.com

Thanks again, invaluable information.

Technorati Tags: 20k, 6k, ahold, bk, ch 7, collection agencies, credit report, credit score, debts, parents, pennies on the dollar, perfect score, sol, yahoo

Hello I have recently filled for chapter 13 Bankrupcy, and pulled up my credit report the 4 account that i included in bankrupcy are being reported as "bankrupcy petition" in my experian report. "wage earner plan in transunion and equifax just need to make sure if they should be reporting like that, Thank you

Technorati Tags: bankrupcy, chapter 13, credit report, equifax, petition, transunion, wage earner plan

I have a few qustions regarding chapter 7 bankruptcy – not sure if anyone would know the answers to any of them. I haven’t filed yet but it is a consideration.

1. I bought a new car last year – my father is the primary on the loan and i am the cosigner – how does this affect his credit? I am current on payments and will continue to be current.

2. My ex husband and I bought a house together when we were married. I am the primary on mortgage and he is second. In the divorce he got the house and modified the mortgage based on his income. If I file will that mess up anything with him?

3. I am an authorized user on my fathers credit card although I haven’t used it in years – will my filing affect this on his credit report?

4. I am in desperate need of a new bed – if I buy one before I file will this have any affect on the filing (not buying with credit – paying outright).

THanks for your help. I hate the idea of filing bankruptcy but Im now being sued because a creditor won’t work with me for a manageable payment plan (they want more than I make in a month). If anyone has any other alternatives I would appreciate that too.

Technorati Tags: chapter 7 bankruptcy, cosigner, credit card, credit report, creditor, current 2, desperate need, divorce, filing bankruptcy, manageable payment, mortgage, new car, qustions, thanks for your help

Hey, I need a little advice from soneone who has been in a similar situation.

I recently discovered we had an old credit card that had not been paid off, and the account has been adding interest for 5 years. When the account went delinquent, it had a balalnce of ,000, and has now grown to [B],000[/B].

Anyway, the card is in my wife’s name only, and I am looking at calling the collection agency and settling the debt, probably for around 6 or 7K I would imagine.

My question, however, is what happens if I don’t pay it at all? I mean, I know it would fall off my wife’s credit report, but that doesn’t stop collection actions and or garnishment, does it?

I realize it would continue to kill my wife’s credit, but does it do anything to mine? Can they garnish MY wages, as her husband?

Any help in answering this question would be greatly appreciated. I will likely call and settle the debt, but want to know what my options are. Thanks! Mike

Technorati Tags: collection actions, credit card, credit report, wages

He has a lot of old credit that he has tried to pay off, but with the interest it is just not going anywhere. How does he go about filing bankruptcy with him being on SSI? He owes about 12,000. What are the steps, such as filing in court, getting a credit report to ensure all have been included and so on? What are the court fees? Thanks….

Technorati Tags: court fees, credit report, filing bankruptcy, ssi

My question is the debt that I incurred, will it fall off my credit report after 7 years or do I filed bankruptcy for a second time?

Technorati Tags: bankruptcy, credit report, second time

I’ve just settled the last of my outstanding debts so that I can have a rapid rescore done on my credit report. The collector said they would fax me the settlement letter after they received my funds but I haven’t yet received the letter and they won’t return my calls. Funds were taken out of my account a week ago. How long by law do they have to wait before sending me this settlement letter?

Technorati Tags: credit report, outstanding debts, rapid rescore

Because bankruptcy stays on your credit report for ten years and most people
cannot qualify for Chapter 7 and end up getting a 13, which is just a repayment
plan they usually cannot afford. Larry at http://www.TotalMillionaire.net

Technorati Tags: bankruptcy, chapter 7, credit report, repayment plan

If i wrote a letter to Time Warner asking to settle a debt for deletion from them on my credit report , do you think they will take the offer. What if i threaten in the letter to take my business to Directv if they choose not to settle and i have to pay in full, do you think this would be a good second tactic?
Also would i get denied if i went to Directv and they saw the balance for Time Warner on my credit report?

Technorati Tags: credit report, tactic, time warner

My truck was reposessed 2 years ago and sold at an auction. I am currently paying to file bankruptcy but have not actually filed yet. Recently I pulled my credit report and it shows a "charge-off". What does this mean and should I still file?

Technorati Tags: auction, bankruptcy, credit report

I have a charged off account with a credit union. On my credit report it shows the credit union and the funds owed.

When I contacted the credit union they advised me that the debt is being handled by a 3rd party, CRB Collections.

CRB is not on my credit report at all. I am looking to settle this debt ASAP. Should I deal with the 3rd party collection agency even though they are not showing on my report.

Any help and advice would be terrific!

Technorati Tags: collections, credit report

What happened to the remaining amt and how will this reflect on my credit report? Also. another creditor that I have, sold the acct to a collection agency and the amt that they are trying to collect is for a much higher amt, almost double. Can this happen? I will never be able to pay this off.

Technorati Tags: acct, credit report, creditor

I am about to offer a collection agency a settlement amount. I also want to ask if they will remove it form my credit report? How can I ensure that this will actually get done?

Technorati Tags: credit report

My mortgage was included on a chapter 7 bankruptcy 2.5 years ago. I continued making payments until recently and now have decided to walk away from my home. Will a judgment of foreclosure be added to my credit report even though the debt was discharged?

Technorati Tags: chapter 7 bankruptcy, credit report, foreclosure, judgment, mortgage

I have credit card debt that I have the money to pay off. However, I heard that credit card companies will negotiate a lower amount, say ,000 instead of ,000 in order to get the cards paid in full.

1. Is this true?

2. Does this look bad on your credit report? Or does it even appear?

3. How does this work and how do you go about negotiating with them?

Thanks for your time!

Technorati Tags: cards, credit card companies, credit card debt, credit report, money, thanks for your time

Ihad a judegment on my report for the amount of 1766.00 when I called they told me the total amount was 4700.00 because of Intrest, but they would settle it and send me a paid in full letter. was this a bad idea, should have I arranged to pay it all. I also paid off some old collections ( 5-6 years old) a couple settled for less and a couple I paid full amount ( fees, orginal charges and intrest) how long will it take to clear up my credit and for my score to improve.
I have plenty of new good credit, I have had a new car payment for almost 2 years and never been late, I have a few credit cards that I pay off each month and so on….
So I have good credit I just had a few older collections that I have paid off, but I have not had any BAD debt new to my credit report in 5 years
I sould have letters from each of the creditors with in a couple weeks and at that point I will send them to all three buerues…

Technorati Tags: 6 years, bad debt, bad idea, car payment, collections, couple weeks, credit cards, credit report, creditors, intrest, new car, score

I am 26 years old and I am in way too much debt. I have tried every other thing that I could. From debt consolidation to just trying to pay back one bill at a time. My last avenue is BANKRUPTCY! I don’t know what else to do. I just want to know how long it stays on your credit report, how does it effect your credit score, and how long until I could start applying for things.

Technorati Tags: bankruptcy, credit report, credit score, debt consolidation, last avenue

I remember seeing it on my credit report recently, but I can’t view my report at the moment. I stupidly forgot to write the name of company down. Anyway I can find out who my debt is with so I can go ahead and settle this? They haven’t sent me letters or called me. The debt originally was with AT&T.

Technorati Tags: amp, credit report, name of company

I have always thought that if a Chapter 7 was filed "Prior" to all the Bankruptcy Laws changing they would be ok. My question is–If someone Files a Chapter 7 Bankruptcy in January 2003 and it’s Discharged in February 2003.

Since this now 7-years shouldn’t this be removed from a person’s credit Report?

Technorati Tags: bankruptcy laws, chapter 7 bankruptcy, credit report

People say 7 to 10 years which one is it I went bankrupt in 2004 and is still there in my credit report

Technorati Tags: 10 years, credit report

Is it worse on your credit report to have "settlements" than if your making payments? I want to settle all my debt but I’m afraid it’s going to hurt my credit worse for when I want to buy a house. Please help!

Technorati Tags: credit report

I had paid the debt in 2002 as a settlement and now last year they have been sending me letters.. and i finally called and asked what it was for and i told them it was settled not to call and they tell me they are reporting it to my credit report but its not there.
it was not in collections as far as i know. I did pay it as a settlement. or charge off.. it should be considered paid and not collectable…

Technorati Tags: collections, credit report

I owe capital one 4,000
I want to pay by making payments to the collection agency but they said "no"
If I want to settle with them what are the proper steps to take?
Pleas help.
I noticed it’s already on my credit report as charged off.
Please any advice would be greatly appreciated.

Technorati Tags: capital one, credit report, proper steps

I also owe 1600 from about the same time period.
I also owe about 00 from the same time period and would like to know how much I should settle for that.
And another for 6, same time period.

Thank you in advance for your awnsers I trying to take care of this on my own and need all the help I can get.
I want them taken off of my credit report should I pay a fraction them request that they delet theese form my report

Technorati Tags: awnsers, credit report, fraction, same time period

I have charge-off and collection accounts listed on my credit report that I am willing to pay, but I want to send letters to each creditor so that they can agree.

Technorati Tags: collection accounts, credit report, creditor

I’m a 29 year old teacher. I’ve accumulated about 00 in credit card debt since I was in college. I cut up my credit cards about three years ago & have been paying on the balances, but card I fell 9 months behind. The minimum payment was over 200 a month and on a teacher’s salary, I just could not make it. They’d send me settlement deals, but I didn’t even have money to settle. I’d send them periodic payments to try to show them I was at least trying. Now, they’ve sent my account to a Debt Collection Agency. The collection agency seems to want me to come up with the entire amount or file bankrupcy. Is there any way I can get a big debt collection company to work with me on small payments until I can get ahead? I recently took a part time job to give me extra income to work with. I don’t want file bankrupcy @ this age and it is the only marr on my credit report. How can I get them to give me repayment options in writing? They want me to do everything over the phone. Help!
The lame teacher’s excuse, is not an excuse. In the state of Montana, a beginning teacher’s salary is barely ,000 a year and with student loans, a rent payment, insurance, etc., at the end of the month I have maybe left over.

Also, I have tried debt consolidation and because I work "-" in the red each month, they would not take me.

Technorati Tags: 9 months, amp, bankrupcy, credit card debt, credit cards, credit report, debt collection agency, debt collection company, debt consolidation, excuse, extra income, insurance, marr, minimum payment, part time job, periodic payments, repayment options, salary, state of montana, student loans

I’ve got 00 in visa credit card debt. It’s not past due and I’m no risk. I want to know if I can settle this account, and possibly for how much. I don’t want to go delinquent to settle this. What effect will this have on my credit report, this is very important. I have heard of people settling for 50%, but they were all past due. I’m going to call visa about this but I would like to know a little bit about how settling works. (a number to visa would be nice).

Technorati Tags: credit card debt, credit report, little bit, risk, visa credit card

There are a few collections that will be removed from my credit report in 2012, should I still attempt to contact those agencies to pay off the debt or just wait to they are removed and worry about the other collections that are in standing til longer

Technorati Tags: collections, credit report

I am trying to repair my credit by sending debt settlement letters to the collections agencies listed on my credit report, but they are not being cooperative. Most are saying they CANNOT settle the debt nor are they willing to delete the listing from my credit report after the debt had been paid. I don’t trust any of these non profit credit counselors, but I need some guidance. I am begining to lose hope that this is even worth the trouble. Any advise?

Technorati Tags: begining, collections, credit report, Debt Settlement, guidance, non profit credit counselors, profit credit counselors, worth the trouble

I would like to hear from people who filed and experience chapter 7 bankruptcy. I want to know to if it actually stays on your credit report for 10 years. Is it also possible to get an apartment and a checking account from credit unions or banks?
it’s medical billings idiot i never borrowed money. It’s people like you that didn’t want obama to pass the free health care bill!

Technorati Tags: 10 years, apartment, banks, chapter 7 bankruptcy, checking account, credit report, credit unions, experience chapter, free health care, health care bill, medical billings, money