credit card use after settlement

I think the only way you would not be able to utilize credit cards is when you are in a bankruptcy. If I am wrong somebody will come and give it correctly, but I think that is accurate.

I think you are right. :D

The credit card companies can choose to close your accounts though or raise your interest rates for being in a plan. I hear that the credit card companies are raising rates on those who pay on time! Which I think is greedy and totally wrong.

I am not sure that I understand your question.

I am in debt settlement and I understand that when you are complete and done settling, that cards are quick to issue you another one... I was told to get another one and charge all my monthly items to it and pay it off monthly to reestablish my credit.

SO, have you completed the settlements on your own or through a company? I am curious to know, because I am almost 2 years into my settlement company and seriously thinking about dropping out and doing it all my own. I am discouraged, but might be jumping the gun a bit...I don't know. :roll:

I think she is asking if she is allowed to have and use credit cards while in a debt settlement program. My understanding is that you don't have to include them all, unlike when you file a bankruptcy case, and if you are in a bankruptcy that would not be allowed.

i completed settlement on my own,tried debt settlement companybut, they got me in more trouble and took my money,i still have credi cards,but settlement company told me not to charge more than $500,now that i settled i guess its time to rebuilt my credit good advice is what you get from this site,thanks to everyone

When I was in debt settlement, I was allowed to keep one card for emergencies only. It had to be less than a $500 limit too. I was supposed to speak to my debt counselor before using it for an emergency or that was highly recommended. Actually, it was a good thing for me because it helped me wien myself off my dependency of credit cards. I mainly pay cash now but I use this card once a month now to help rebuild my credit. I'm no longer in my debt settlement program and I am also trying to clean up my credit. It will take some time but it was a valuable lesson learned. :)

Linda,

Did you hear back from your counselor on Friday? I've been thinking of you. :)

They told me to file the answer and they would work on negotiation with them. They said that the majority of the time they are more than successful. Which leaves me hope, however I am still fearful of the whole ordeal. Just leaves me a bit uneasy.

Well, do what you need to do and take it from there!

I thought that if you were in a settlement arrangement that you weren't required to turn in all credit cards, only the ones you wanted included in the settlement plan, unlike bankruptcy where you have to give up all credit cards and list them in the bankruptcy. Is that right?