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  1. My account with Macy's is currently with a CA but I received a letter from Macy's agreeing to settle the debt and saying they "will direct our credit reporting agencies to report your account as current and to delete any negative information in their files regarding your account." This statement seems vague to me since it doesn't list Experian, Equifax, and Transunion as the CRAs. I'm thinking about sending the Agreement to Compromise Debt letter I found on the main site to make sure that all negative info will be removed from my CR. However, do I send this letter to Macy's or the CA? Has anyo
  2. Wondering if anyone is actually getting a favorable debt settlement ...i.e. paying 30 to 50 % of debt to settle? Also has anyone experienced settlements with DODEKA LLC. ??
  3. Hi all, I have a questions. I have been looking into Debt Settlement but i heard that when you do this it can affect your credit even after you pay off the settlement. I own about $14,000 if I get it settled for 50% off that will leave about $7000 that they will leave on my credit report as bad debt. Can I pay those $7000 off to get it off my credit report?? Thanks for your help in advance!!
  4. Hi All! I am new here. I found a link from Credit Boards and here I am. It seems like a very friendly place. So this is my issue. I have numerous Citi backed credit accounts. They have all been sent to collection agencies 30-60 days ago. We are talking a total of about 50k (8-9 accounts). These are all accounts from a business that went under. I personally guarented the accounts so I want to pay them off. These accounts are not on my personal credit report but if I get sued and a judgement is entered they will appear on my personal report. I cannot have this happen as my personal credit is al
  5. I've posted about this issue on other boards, so I'm over here to get some debt settlement advice. As of yet, I have not been contacted by the CA concerning this debt. I found out from Ford Motor (OC) that the debt was sent to Weltman, Weinburg & Reis (CA). The debt is for $5000+ on a '98 Escort that has been totaled. Knowing that the CA purchased this from OC for pennies on the dollar, I would like to settle so I can get the title and dispose of the vehicle. 1. Would it be unreasonable or would it be stupid to contact CA and offer to settle in return for the immediate turning over of t
  6. Thank you all for this wonderful site! My DH has about $30K in charge-offs. Some of these accounts haven't had payments on them in over 3 years. I want to settle these debts and get them paid, but I wonder if it is the right thing to do. One of them has been bought and sold 3 times. None of the accounts are with the OC's, they're all with CA's. The accounts are MBNA, GM (Household). Citibank and Discover got judgements against him already, so we pay $350 a month to an attorney. These accounts went to Unifund, who sued us. What would you do in our shoes?
  7. We have three credit cards and behind on all of them. I was wanting to call and try to "settle" Do I have to write a letter or can I just call and ask for a settlement? Along with the late charges and interest these are now close to 300.00 over limit because of the late fees and the interest which again gets another "over the limit" charge because of the fees etc has pushed it over. Hoping to have all the money next month to take care of all this and needed advice before I called them. Also I read some where that if one sent a check and in the memo one would write "paid in full" and they cashe
  8. I'm going to print off that post and read it over again but the part that confuses me is this.... we just can't keep up even the min. mo/pymts any longer - although only 3 cc are behind. Am I the only one that like 5 days after the due date the cc start calling? And they don't call once, they call up to 14 times each day. How do you deal with that? We currently owe $26,000 in unsecured debt and simply can't go on paying $1,100 in monthly payments. And then the $35 late fee each month. Most of the 7 bills are under the credit limit but a couple are close and then there will be the over-the
  9. I'm going thru the debt settlement company "superior debt relief", they are a member of the BBB, their employees are accredited thru Arbitrain, and they are a member of the IAPDA. 1) is this a reputable company? 2)Do most settlement companies work for you or just take your money?
  10. My husband and I are in a predicament and not sure where to go. We are not yet in collections as we are between 1-4 months late on many of our cards (some are still current) but we can't afford to continue the minimums, muchless the new payments which are last months minimums plus late fees and interest. We do not have a card that is below 28% interest and our debt is around $64,000. I'm in college full time and have a part time job. My husband works full time. I graduate in May and can start working full time after that and at a job with better pay. We could get a handle on payments then exce
  11. This is my first post and I would like to thank everyone who contributes to this site. I have just started my credit repair journey and the amount of valuable information provided on this site is incredible. My question pertains to a settlement offer follow-up. I sent an initial settlement offer to CA for $830 (25% of the original balance). The settlement offer was tailored after one of the sample letters provided on this site so I made sure to ask for a paid for delete but did not acknowledge the debt. Today I received the following response in the email. Attached to it was copy of an i
  12. I have read the step by step tutorial about how handle debt settlement. My question is what is the best approach to take when discussing your situation with customer service? Should I wait for the CC to call? Should I tell them that I am about to go bankrupt so you better grab it fast? I can avoid bankruptcy if I can make a deal on this account? I believe I an going to have to close out my 401k claiming hardship and use that money to help finance the settlements with the C/C's. I am aware of the penalty I am going to take but I don't see much choice. I need a foreclosure notice to trigger the
  13. I've been a bit leery about going into debt settlement, considering I'm reading how bad it is to get into it from other message boards and from others who had been burned from getting into debt settlement. If it was so bad, why then is this encouraged here? I'm confused..LOL I'd like some input on pros and cons about debt settlement just for my own research. thanks so much ~loribee59 PS: I *love* that little "has it been asked already" button! Helps to cut down the number of redundant threads!
  14. In order for hubby and I to buy a house, we have to pay my 2 Capitol Ones plus my 2 Providian's--1 that sold to Portfolio Recovery and 1 to LVNV Funding, all of which don't SOL until late 2008, early 2009. Capitol One already sued me for the over $1,000 account and won a judgement by default, but that was a few years back now and didn't do them any good, they still didn't get a dime out of me, and now that the other has gone over $1,000 someone has already come around within the last month trying to serve me. Now that's the Capitol One that we all know and love. Those are only $500 cards, so
  15. I am in serious debt - $135,000 cc's - I'm maxed out and all I have left to do is borrow against my 401k and a small home equity available, probably $65,000. I've talked to a DS and was considering using them, then I went to a BK attorney and he says I qualify for BK 13, but the repayment plan would be too aggressive for me to keep up with right now (that will change in March). The BK atty says debt settlement is a better option right now for me, however, he advises me that he does not want me to use a DS company, he says that it sometimes causes more problems then just doing it yourself, he
  16. This is my first post and I'm learning as I go..... We shamefully carry over $70k in credit card/student loan debt. Always! paid on time until husband lost a great portion of his income 6 months ago. It appeared to be temporary so we treaded water for a couple months until we could no longer. We are currently 3-4 months behind on all our CC's. They are all still with the orginial creditors but I'm sure not for long. We signed up for a debt settlement company but after reading all the info we are terminating (we just got the papers- so no payments yet) I think/hope we can do this on our ow
  17. I'm a victim of corporate america. The banks love me, i'm their perfect slave. They got me all wrapped up into their web...long story. i have perfect credit, no lates. I realize, that I will have to pay at least $ 400 a month on interest alone without paying off my balance on my credit cards. I simply won't be able to do it and I'm looking for alternatives. Can anyone give me advice which path might work best....debt settlement...consolidation...eliminating debt...bankrupsy... Did anyone use any services at all and can recommend a specific firm/lawyer? thanks for any advice.
  18. Our class group is writing a paper on CC debt in the US today. One thing we are not able to find a lot about is how much profit per year CC debt settlement co's earn. Anyone have good info or facts? Thanks,
  19. We have met with a lawyer and our only BK option is to file chpt 13. It has been really hard for me. We were current on all of our payments when we met with him but dying making them every month. He told us to quit making our payments for 3 months then he would file and get us into the 50% plan. I believe he is a very good BK attorney. We did as he said and the creditors starting calling. I sent the little coupons out that said to contact .... (attorney). Now that I am completing the paperwork to go in and file, I am really doubting if it is the right thing to do. I was going to look into debt
  20. Chase (Mann Bracken Attys) has filed a suit to confirm an arbitration award against my husband. Do you think they would settle if we called them or would a Debt Settlement Company be able to work something with them? We are answering the suit next week with a general denial, but any advice would be appreciated! Thanks!
  21. I have been reading all the posts in the site and find very valuable information. However, I am still unclear as to the best decision. Right now, my credit report is the least of my worries. I was at a 700+ score until 3 months ago when a BK attorney advised us to quit making payments on our unsecured debt, cold turkey. So we did. Now I am wondering if there are options for us besides filing chpt 13. We have nearly $100k in unsecured debt, business related, but the reasons really don't matter. We are here now and have to work with it. It is my impression from this site not to mess with
  22. Does anyone know of any temporary hardship programs for say 6 months... I am on a fixed income till I finish graduate school in September... I had a company email me with different levels of hardship cases which were dependent on income levels etc and can't seem to find it... Thanks...
  23. What are the advantages and disadvantage of soliciting a debt relief company to help paying off credit card debts?
  24. I received a settlement offer letter from FMS\Arrow Financial services regarding a old past credit card debt (Providian) and was told if I pay by a certain date (May 31st) that the matter would be paid in full. I paid on May 25th and contacted the agency for a settlement letter; they have been stalling since, telling me that it was faxed; however I never gave them a fax number. Upon further investigation I decided to check my Equifax credit report and noticed that the reporting date had been changed and that there was a balance owed, the original amount minus the settlement paid and the acco
  25. Hi, all. I am settling debts myself. I have an account with Chase and have been dealing with the CA. They tell me Chase wants $11,000 but I only have $7,000. The CA said they could accept the $7,000 if I made 2 payments so they are in different quarterly months. (?) They apparently need the account to stay in their office until 7/07 and then after the 2nd payment the account will be settled in full. Here's the wording in the e-mail I received today: "Dear Hotdog, Valentine and Kebartas, Inc. as a legally authorized representative of Chase Bank, USA, N.A. is offering a Settlement on t