Settling next to credit card companies?
I got a credit card during my freshman year of college..young-looking and stupid.(worst mistake ever) and I now owe a collection agency for the debt. I be wondering would it harm my credit more if I settled the debt or if I go ahead and just kept making the monthly payments instead and is in attendance anyway that I can settle and have them to freshly put paid and not settled on my credit report. I really don't want horrible credit when i'm old-fashioned..guess I should have thought something like that before appendage.
Answers: At this point it doesn't really matter, because credit is when a company decide to lend or not individually. Some banks will not issue a card and another dune would. So not settling is only going to cost more money. The Collection agency merely wants the money and are offering you a mart. After you pay it, it would be too little not here to come back for. But your credit is still going to voice the same. The untested creditor is who puts the debt on your credit report. The only item after is who is going to look into the after math. If the Collection agency buys the debt for example, it doesn't matter what track you pay them. If they settle, later that's the debt. No one care if you salaried them more by time. So why bother?
Get the settlement amount in writing. Send them transfer of funds in full via certified e-mail so they have to sign for it. Check your credit report surrounded by a month from when you received the confirmation that they received your payment at www.annualcreditreport.com. Then stir to your local Credit Union and ask about a reserves secured loan to rebuild your credit.
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Answers: At this point it doesn't really matter, because credit is when a company decide to lend or not individually. Some banks will not issue a card and another dune would. So not settling is only going to cost more money. The Collection agency merely wants the money and are offering you a mart. After you pay it, it would be too little not here to come back for. But your credit is still going to voice the same. The untested creditor is who puts the debt on your credit report. The only item after is who is going to look into the after math. If the Collection agency buys the debt for example, it doesn't matter what track you pay them. If they settle, later that's the debt. No one care if you salaried them more by time. So why bother?
Get the settlement amount in writing. Send them transfer of funds in full via certified e-mail so they have to sign for it. Check your credit report surrounded by a month from when you received the confirmation that they received your payment at www.annualcreditreport.com. Then stir to your local Credit Union and ask about a reserves secured loan to rebuild your credit.