Quoting Real Person>:
My credit report says that I am about $1,300.00 in debt. I want to settle with the people that I owe, but with all the other bills I have it's kinda hard paying the full amount. My question is, do you think that the creditors will accept a reasonable settlement because I'm unable to pay the full amount? For instance, 1 company I owe $140.00, do you think they will accept $100.00 as payment in full? If so, is there a form letter for something like this. Please
give me any help that you can. I want to buy a house and my credit score is 600.
Thanks.
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Wednesday, August 10, 2005
Settlements with creditors. Will these help my credit score
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I am sure a creditor will accept some form of settlement. But on 140.00. hey that should be paid. 1300.00 total. Come on pay that too. The real question here is will it help your credit to pay these people. If they have already marked you late or collected then your score will not raise much upon payment. I would have to see your credit to give any more advice other than set up payments and pay these people. If you do settle it will show as a settlement
which could even hurt your score more.
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