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0xYg3n
topdawg



Registered: 04/29/04
Posts: 18,881
Last seen: 14 years, 10 months
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debt collection consolidation...
#8071336 - 02/26/08 03:25 AM (15 years, 11 months ago) |
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anyone have advice or suggestions?
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LunarEclipse
Enlil's Official Story



Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: debt collection consolidation... [Re: 0xYg3n]
#8071536 - 02/26/08 07:58 AM (15 years, 10 months ago) |
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Consolidate your credit cards into an ash tray and take a lighter to them?
-------------------- Anxiety is what you make it.
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
Last seen: 6 hours, 43 minutes
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Re: debt collection consolidation... [Re: 0xYg3n]
#8076606 - 02/27/08 10:21 AM (15 years, 10 months ago) |
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Might want to check the existing thread on this: link
Quote:
Debt Consolidation companies do typically show up on your credit - but I don't think it impacts your score negatively. However, perspective lenders will see something along the lines of "consumer is enrolled in credit counseling". To some, that is a red flag that you got in over your head.
Your first step should be pulling a copy of your credit report - a tri-merge copy, that includes all 3 bureaus. Identify the debt that looks the WORST on it (highest balance, most late payments, or past due, etc). Call them and tell them you got laid off and want to settle your debt, but need to set up a payment plan. Play hardball with them, and tell them you want to make it right, but don't have the money to keep paying interest. They just want money, and if they think they're going to get nothing if they don't work with you, they will. Sometimes they will settle for pennies on the dollar.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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