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need some quick info please


cntrymom925
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All of my CC accounts are in collection right now. Would i be better off dealing with the OC's to reduce the amount of settlement or going through the Ca's .I worry about dealing with the CA's due to the fact that with CA's you can get them to delete the negative marks off the credit reports but thats not a guarantee that the original creditor will comply. Does the amount of time the account is delinquent/charged off make a difference with either the OC or CA? Can it be used as a bargaining tool with the OC?

I know get EVERYTHING in writing first! :D

Alll my accounts had a 3-400 limit and are up in the 7-800.00 range now

just went through a nasty divorce, single mom of a 3 yr old, looking for work. etc. etc. Any advice? Don't want to Bk if i can fight this!

Thanks!

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Well...as a general rule, if an account has been charged off, then the OC is no longer interested in dealing with you. However, you could first try calling the OC and asking if you're eligible for their "hardship" programs. They won't "settle" for a lessor amount, but if you explain what's happened and play on their sympathy, they might agree to carry you for awhile. The amounts you mention are not huge, so they may be willing. (CA don't have such things, so don't bother with them). If the OCs won't budge, then you'll have to play the validate, violate, sue in small claims game with the CAs. Again, with the amounts you've mentioned, you might actually get them to pay you!

Good luck, and hope things go better for you in the future...

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As willingtocope said if the accts. have been sold and/or charged off, you might not be able to deal with the OC. Check the DOLA's of all of your accts. You might be able to reaffirm a debt if it is not charged of by reading all of the resources of this board and going here:

http://debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=100

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