I am on the edge of losing grip on my debts. I’m missing payments on some just to pay the other. My score is below 600 so no bank will loan me money, I’ve tried. No family / friends can help. I read that chapter 13 is like a consolidation repayment plan which is all I need. Will this hurt or help my credit? Should I go with a debt consolidation company instead? If so which comany is best?
I meant no bank will give me personal loan to consolidate my bills..

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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’m in the reserves and I’m considering filing for bankruptcy. I understand the credit consequences but seeing how my score is already seriously tarnished, I feel it is my only option. I can’t sleep at night and it’s getting worse and worse. Will anything happen to my military career in the reserves if I file for bankruptcy?

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my mom keeps paying a month to my hospital bills from a couple years ago from a motorcycle accident.She thinks its helping me in some way…. I told her not to because its already on my credit as bad debt and they are probably less likely to settle for a smaller amount if they think they are going to eventually get all of their money. Its the only bad thing on my credit and its hurting my score horribly. what should I do??

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i have horrible credit nothing positive im about 6000 in debt with 7 different collection agencys. i was very irresponsible 4. i have all the cash that i need to settle all my debts to ”paid in full” will this make my score go up or do anything positive to it. when do you think i will get the opportunity to rebuid my credit. i really want to buy a house in about a year in a half is that enough time. thanks soooo much

Technorati Tags: collection agencys, debts, score, time thanks

I owe a LOT on my credit card bill (my minimum payment is 5/month) and my interest rate is 12%. Please understand that this has taken almost 2 decades to get to this point and it was unintentional. Anyways, I have good credit with a score of 771. I don’t want to ruin that by filing bankruptcy. I am wondering if there is an alternative where I can cancel the card, pay say /mo and not have interest accrue. I will pay til I die if I have to but I cannot afford this anymore. I know you can do something similar with medical bills, so I thought maybe there is something out there for credit card bills. If it helps, I am disabled and receive SSDI, so maybe there is a government program, I don’t know. Thank you for any/all suggestions.
Just some additional thoughts, what would trash my credit worse? Filing bankruptcy or debt settlement of some type as one person mentioned? Also wondering, if I just ceased paying or only paid the very minimum I could, and lets say they end up putting me in collections, etc., and let’s say they sue me for it, could they put a garnish on my monthly SSDI check? I don’t have any assets they could take (savings, house, etc).

Technorati Tags: 2 decades, assets, collections, credit card bill, credit card bills, Debt Settlement, filing bankruptcy, garnish, government program, interest rate, medical bills, minimum payment, score, ssdi

My capital one credit card went into collections about 2 years ago..i just contacted alliance one about settling my debt. i owed about 1350 dollars and settled for 950 to pay over three months and then my account will be settled. was this smart? how will this look on my credit report? will my score go up from paying this debt or go down because i settled? thanks

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I have about ,000 in debt, i pay around 0 a month in credit bills. Ive never defaulted and my APR’s are low but with the economy my profession has slowed and its getting hard to pay everything and im drowning. Should I file bankruptcy?? I would hate to ruin my credit now that im 31 and have never had a bad score, but what can i do?? im drowning! please help!!

Technorati Tags: economy, profession, score, should i file bankruptcy

i settled couple credit cards for half the amount owed by couple years,will my score goes up?

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If I settle all of my debts, which are about 11 different items, will my score go up or do I have to wait 7 years for it to be cleared? If the score will not go up by paying off those collections, how do I get it to go up?

Technorati Tags: collections, debts, score

If you settle a debt for a lower amount than you owe, is that still looked at as bad??Im trying to repair my credit and although im told that paying off old debts does not really improve your score im trying to pay them off because im looking into trying to purchase my first home in a few years.Someone told me if i settle that it still does not look good because i did not pay back in full. Ill appreciate any feedback espically if you work in the industry where you have to look at peoples credit report to determine whether they qualify. Thanks alot

Technorati Tags: credit report, debts, espically, score

I have things in collections and want badly to get my credit back up. Every now and then I get offers in the mail to settle the debt for a lesser amount….Are this offers something to take advantage of as a means of improving your score?

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I am currently in debt. I am 21 years old (Yes I know I am too young to be already in debt). Most of my debt has been passed on to collection agencies. I am slowly paying off my student loans and haven’t done anything about my debt with the debt collectors. One of my other debt with my bank, I was able to hold that off because it was almost sent to the debt collectors, however I am making minimum payment on that card/debt. Any ideas on how I can bring my score back up? How I can clear my debt? Thanks!

Technorati Tags: card debt, collection agencies, debt collectors, minimum payment, score, student loans

I’m trying to settle my debts right now myself. I am wondering how long it will take for my score to recover and by how much. I am 31 years old now and I’ll be 32 when I can finish paying off the settlements. I would like to go into business for myself in the next few years and I’m not sure how it will affect me.

Technorati Tags: debts, score

I am going to try to resolve some bad marks on my credit by paying off some older debt. I don’t have bad credit card debt or anything of the sort. Just some old bills that went to collections from hospitals, cell phones, utilities, etc. Many of these have been from years ago (some 5+ years).

Now that I am making a decent living, I am finding it hard to obtain lines of credit, and know what my score is. I ordered my 3 free credit reports yesterday, and will be expecting them in the mail shortly. I want to try to tackle these ‘old’ debts to get them off my report, and hopefully improve what’s written on my report.

I read that the first step in doing this, is to write a letter to each company listed on the report, stating that you want to rectify the situation, and to work out a payment plan. What types of things should I ask? Should I propose options? If they respond with a payment plan or settlement amount, do I accept it or negotiate? If I correct these, will they come off

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I have a minimal amount of credit car debt less than 10k, but the minmum payments were killing me and I wasn’t getting anywhere with the balance. I joined a credit counseling service and have not ever had a late payment on iut. Now it is on my score as a negative account because of the DMP. My husband and I are doing arefi to pay of my credit cards, and a friend told me that some credit card companies will take a lesser amount to get you to pay it off. I called the first company and they knocked 2K off right off the bat. The next company said they would negotiate a settlement ONLY IF I AM DELINQUENT. Should I let it go delinquent to do a settlement? Will it hurt my credit any more than it already has if it is late???

Technorati Tags: credit car, credit card companies, credit cards, credit counseling service, iut, score

I spoke to a collection agent today about an old debt that I am trying to pay off. They offered a settlement for about 20% less than the total. They informed me that if I took the settlement it would look bad on my credit report. Any truth to this or is this slimeball agent just trying to get as much money out of me as possible?
I was under the impression that even if I pay the settlement offer from the collection agency that it will still show as being paid on my credit report and the account being closed.
How can it ding your credit. If it is an old account that is in collection. Won’t my score go up when it’s paid? Do you mean it won’t go up as much?

Technorati Tags: collection agent, credit report, much money, score, truth

Our loan was in a "modification" with the mortgage company and we were late on the payments. We sold one of our trucks on Friday for 00.00 to pay the 2 months behind and today we got the letter in mail saying they were continuing foreclosure proceedings.
We called and they said we don’t make enough, but we do so they are working on something, but I have a bad feeling that they are stalling. I want to sell the house, but my boyfriend does not want to. Our home is worth more than we refinanced for, but will be hard to sell quickly. Our credit is terrible and our score is very low. What about filing for bankruptcy or trying to sell fast..before foreclosure starts again?
I don’t think we can do much to get out of the mess we’re in.
(we missed the payments because a/c broke..we live in florida and have new baby so we had to buy window units.)

Technorati Tags: filing for bankruptcy, foreclosure proceedings, mail, mortgage company, new baby, score, trucks

My credit reports tell me I can improve my score by paying down my debt (which is happening slowly) but give little other advice. Also, my credit reports state that some of the debt will drop off in 2011, so should I settle or wait until then?

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We just got an offer from Bank of America that offered us a chance to settle our 00 debt for 00 if we do it in 4 payments. We are delinquent on the account, I believe past 90 days without a payment, so its already affecting our credit report.

By taking this settlement, would it affect my score even more in the years to come as we rebuild our credit?

Technorati Tags: bank of america, credit report, score

I am not eligible to receive a student loan by myself because of my young credit of only about a year even tho I have an excellent score.
I am not able to have my parents cosign for me because they are coming out of bankruptcy a little over a year out and have re established their score. but the loan companies and banks say it needs to be 2 years. I recently transfered to a very expensive school. I did receive a scholarship, but it doesn’t quite cover the cost, which including housing is around 40k per year. I have excellent grades deans and presidents list every quarter of my 3 year length college career.
But what I really do not understand is how on a deferred student loan you are required to have a co-signer when they can be removed as your co signer after 18- 24 months.
This does not make much sense to me and if anyone has any kind of alternative ideas comments or solutions I would appreciate everything I can get my hands on.

Thank you

Technorati Tags: bankruptcy, banks, co signer, college career, loan companies, parents, presidents, scholarship, score, student loan, tho

I am not interested in debt settlement companies. Is there any help out there for me ?
Perhaps I should be a little clearer regarding what it is I need. I am not interested in debt settlement companies or fraudulent lenders whose only means of contact is an email address. I am aware that with my low score I cannott qualify for a loan so I do not wish to receive answers from people who are soliciting "victims" for their fraudulent loan scams.

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I have been unemployed for 9 months with bad credit as a resultof late payment. Should i file chapter 7 b/c I currently have no assets or dispute with my creditors to have some things removed from my credit report to improve my score? I am only 21yrs old and in need of a car and I am trying to straighten things up. Please help!

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My daughter is getting money from her uncle after the holidays. I am a single mom, unemployed 5 times in the past few years. Went to school for Certified medical assistant & nurses aide & cant get a job. I need to know whats my best bet….go bankrupt? pay off the debts? Jobs & landlords check your credit reports now & I’d like to finally stop paying rent & buy my own small house to leave to my daughter, of course for me too~! I don’t want to waste her money. How long does it take for the score to go up on all 3 reports after debts are paid? Thanks so much

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I’m trying to look at all the options here and wondering if I file bankruptcy when will my score go up or does it ever go up?

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I am thinking about filing chapter 7, and I was wondering how long – ish it takes before I start over again reestablishing credit and therefore raising my score. I guess I don’t even really know what the score will be after filing. Any insight?

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