Settle or wait 7 years?

I am about $18,000 in credit card debt and have ruled out paying it (actually it%26#039;s two cards) off the right way... I know, I know but it%26#039;s just not possible!

Would I be better off settling the accounts or just to begin trying to build new credit? I have been told that settling debt doesn%26#039;t help your credit score, is that true?

Settle or wait 7 years?

THROW AWAY YOUR CREDIT CARDS!!!

Obviously you%26#039;re not going to do yourself any favors with keeping ANY credit card around.

Paying off ANY of the credit card debit is going to be a great place to start. Settling debt DOES help your credit score more than just ignoring it and adding to the problem.

Settle or wait 7 years?

wait

Settle or wait 7 years?

yes- wait.

Settle or wait 7 years?

yes it is true, it hurts your score. you could just file for chapter 13 bankrupty. talk to a lawyer, or if you own a house you could refinace the debt

Settle or wait 7 years?

file bankruptcy. if you are not paying these bills on time and are always late and etc... your credit may already be ruined. i have filed bankruptcy and was able to keep my home. i dont regret it one bit! you can still get credit later on just with a higher interest rate.

Settle or wait 7 years?

You should try to settle, you ran up the debt and it should be paid. Try to settle for a third of what you owe.

Settle or wait 7 years?

call a third credit card company. tell them you want to transfer the entire balances of 2 credit cards to theirs, but only if they can guarantee a fixed x% interest rate. Then pay off the 2 cards, and have 1 payment at a lower interest rate. a bank is willing to make a $20,000 loan at 9% than a $0 loan at 0%

Settle or wait 7 years?

Very true ,do not waste the money or your time . Wait a while then dispute the item on your credit , Keep doing this eventually someone will mess up and think they already sent your dispute response to the credit bureaus . The older the debt the easier to remove .

Settle or wait 7 years?

Macboy ...... for God%26#039;s sake ... NEVER SPEND MONEY THAT YOU DON%26#039;T HAVE.

Settle or wait 7 years?

I suggest you file bankcruptcy

Settle or wait 7 years?

OK, but the 7 years sometimes doesn%26#039;t start until they send it to a collection agency. So you might be looking at a lot longer. Also, the collection agency can sometimes find ways to extend the time, though you can dispute that.

Settle or wait 7 years?

file for bankruptcy and rebuild the credit.

Settle or wait 7 years?

Pay it off. 200 bucks a month. Remember the new law passed. You have to qualify for Chapter 13. Chapter 7 you need to pay back your debt made by judgement. Pay it down on your own.

So what if you can%26#039;t have designer clothes. Take care of what you have now. So what if you can%26#039;t drive that nice car. Take the bus. You%26#039;ll be more of a man when you square away your life.

What bothers me today is that people TODAY take the easy way out because everyone feels that they have a right to it. When in fact it is a privileged earned.

If you couldn%26#039;t pay it to begin with why even get a credit card?

Your Bankruptcy will be with you for the rest of your life. Kinda like a felony. No matter where you go it%26#039;s there.

Get your life and pride in check. Live within your means.

Godspeed.

Settle or wait 7 years?

Well, aside from the fact that you owe the money you spent (which is no small point, incidentally...) Waiting seven years really isn%26#039;t an option.

In case you haven%26#039;t been paying attention, the credit card companies WILL come after you and everything you own. They%26#039;ll harass you for awhile, but that%26#039;s just the warm-up. When it becomes clear that you have no intention of paying up, they%26#039;ll take you to court and get a judgement against you to garnish your wages and take whatever personal property you might have to cover your debts.

And if you think you can%26#039;t afford the payoffs, that will seem kind by comparison.

If you think you can work out a payoff with them, do it. NOW, while they%26#039;re still willing to talk to you about it.

Settle or wait 7 years?

settle