 I have lots of Credit Cards? |
I have a few credit cards from sears the bay ect ect
Will closing them make my credit score go down?... |
|
 When you write a check, how long is it good for? |
| Example: If I write a check on Sept 1st, can someone cash it still on Nov 1st?... |
|
 Credit card offers...is it safe to toss the entire envelope into the trash? |
| I get them in the mail every day. Sometimes I let them accumulate and then end up opening up every single one so i can rip them up and throw them away. Is it safe just to toss it away without ... |
|
 Credit Debt Question??? |
| I have about $3,000 worth of credit debt. 4 of them are past due and 2 went to collections. My mom is paying them off for me. (Long story, and I know its embarrassing) How long will it take for my ... |
|
 What is the easiest credit card to get approved? |
| For a new person that has very little credit what is the easiest credit card to get approved? I've tried a few already and I've been turned down.... |
|
 Does paying old debt help my FICO score? |
| I have some old hospital bills from 2002 and 2004. If I go ahead and pay the debt collectors will this increase my score? Also, if i do pay off the debt, does the debt still show on my credit report?<... |
|
 How high of credit do I need for an alternate loan for college? My credit is currently 730.? |
| I don't have any cosigners so I'm trying to build my own credit but my college balances are catching up with me. I don't have enough federal aid to cover the entire bill and my mom ... |
|
| Countrywide still advertising!?!? |
| I was just on Yahoo's home page and saw an ad for Countrywide... But yesterday I heard on the radio that they're asking for ANOTHER $2bil after Bank of America already invested the same ... |
|
 Using my credit cards to put up a business? |
| I use my 20 credit cards to finance a business, my business is doing well but all my earnings are used to pay for my credit card debt causing my working capital to suffer (no cash on hand).. Any ... |
|
 Can credit card companies make my dad pay for my moms debt? |
| the credit card was only in her name(no joint or authorized user)so the company is saying that since the house was in both mom and dads name he is responsible to pay her debt(9,500) because he can ... |
|
 Could I get a car loan? |
| I am 19 years old with a credit score of 694. I am looking into buying a new car without a co-signer. I will be financing approx 12,000. Is this possible? I have only had a credit card for 7 ... |
|
 Not a question but a warning? |
| i have seen a guy on here called chris p he is always answering questions in the finace section he is offering people loans what he does not say is you have to pay cash up front and he is from ... |
|
 Collection Laws? |
My brother has a debt from 1996. He has recently been contacted by a collections agency saying that they have been granted a 10 year extension to collect this debt.
They have been very ... |
|
 What is the best way to get great credit with credit cards? |
| i want to know how much should i spend on each credit and should i pay off completly or should i leave a few dollars on i heard that you should use 30% on each then pay off each month but leave 5 10 ... |
|
 Garnishing wages? For a car repossession at 16? |
| When I was 16 (not knowing what credit was and how it could affect me), I signed a contract with a bank for a loan with a co-signer who also got a loan for a car. The car got repo'd and now at ... |
|
 How much do I have to owe to go bankrupt? |
I make around $33,000 a year. I owe around $60,000, is this enough debt to go bankrupt?
Additional Details
Is Credit Solutions a non-profit organization?... |
|
 Can someone help me with this please :)? |
i'm trying to make a sign for my store that if you purchase something over 1000 dollars then you get to finance it and i want something along the lines of:
"get this look for ... |
|
|  |
SReese4 | Paying off old debts? |
Hello everyone,
I have debts from the last several years.
But my question is, is it better to settle on a debt if the collector is willing to, or pay off the entire thing?
I know either way it will hurt my credit for a period of time. I also know it will not reage them, as long as I pay it in one sum. It just turns on the current status for so long until they diminish several months later from the for-front. |
 |
 
Critter Lady
 |
If they will offer you a settlement, take it.
They are required BY LAW to remove the item from your credit record within 30 days of final payment of any debt, even if it's a settlement amount, instead of full amount. While the item may still show, IT MUST REFLECT the paid in full, or you are entitled to charge them with fraud.
Once you pay a debt, stay on them until that is taken care of. |
|
lisa w
 |
Settle
sometimes it is THOUSANDS less!
Negotiate with them as to how they are going to update your credit and tell them that the settlement is contingent upon the update and that you want that in writing BEFORE YOU PAY (so if they dont follow thru you can send a copy of it to the credit agency).
If they dont agree, tell them no thanks on the settlement.
COngrats on moving yourself into a position where you can pay them off!
GOOD LUCK! |
|
DLeibowitz
|
It's a good thing to settle a debt for less than you owe. However, the difference between what you owe and what you settle for could be treated as "forgiveness of indebtednes income" and you might receive a 1099 form reporting this to the Internal Revenue Service.
Negotiate for a credit report entry stating "debts satisfied on mutually agreeable terms" or words to that effect. |
|
jonborja
|
Settling the debts gets your score higher not much but it's a start. But when you talk to them make sure you request a letter from them that the debt has been paid..in case they forget to update your credit info.
By now the debts could be paid off by almost half what you owe. |
|
Jane D
|
Great question... I am thinking the same thing! :) |
|
Hima K
 |
I would suggest you to join a debt settlement company who will negotiate with your creditors as well as debt collectors too. They will bring down your principal debt by around 30% to 70% depending on your credit cards.
you can make affordable monthly payments and be debt free within 3-36 months. There are hidden costs and upfront fees associated with the monthly payment options.
Check out this debt settlement company who has helped me out with the unsecured debt situation.
http://www.debtfreeafterall.com
Good Luck |
|
Schona
|
Settle the debt for a lesser amount, if the creditor is willing. This may keep the debt from being reported to a credit bureau. Many creditors are willing to settle on a lesser amount, if paid off in one lump sum. Many will actually agree to match your payment dollar for dollar. For example you pay 500, they will match that with 500.
Try to settle if you are able to work out an agreement with your collector.
Another thing to keep in mind, there are stringent guidelines that the collector must follow. A debt collector is not allowed to contact you by phone before 8 AM or after 9 PM. They cannot threaten to send you to jail, or threaten to send anyone to collect payment in person. If they tell you that they are sending the police to your house, then you must be served papers within 5 days. They are not authorized to speak with any other member of the household that you reside. These and other rules are contained in the Fair Debt Collection Code. There may be some variations depending on your specific location.
I hope this will help your current situation. Good Luck! |
|
stone m
|
You should opt for debt consolidation. When you gets into a debt trap it becomes difficult to get out of it. Taking more loans to repay the debts leads to more stress and financial crisis. Finally, there is no option but to adopt debt consolidation, which leads to a new llease of life. Many people receive abusive calls from debt collectors and are stressed. Hence opting for debt consolidation is the number one solution and helps to overcome abusive calls and be free from mental stress. |
|
Gertie
 |
E-mail me fort_bragg_girl@yahoo.com and I will email back to you a letter of agreement to pay for less than owed as well as them removing the negative inquiry from your credit. chances are they will agree just to get money. |
|
Khujo
 |
If it's in collections, you're wasting your money if you pay it off. It will be recorded as paid...but the collection status will still be on your credit report, so you're pretty much just throwing money away if you do that. If something hasn't gone to collections, that's when you pay...but if you can't prevent that, just let it go. Believe me, it won't improve your credit in any way. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 31 minutes(s) ago
| | | |
9 | 40 minutes(s) ago
| | | |
9 | 56 minutes(s) ago
| | | |
9 | 3 hour(s) ago
| | | |
9 | 8 hour(s) ago
| | | |
9 | 2 day(s) ago
| | | |
9 | 5 day(s) ago
| | | |
9 | 2 week(s) ago
| | | |
6 | 2 month(s) ago
| | | |
10 | 7 month(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
