Credit cards
Date: Tue, 09/30/2008 - 14:01
If I negotiate debt settlements with the credit card companies with the highest balances, but continue to pay on the cards that I want to keep, is it likely that companies will also cancell my card, even though I'm paying them?
You can`t have you cake and eat it too. The creditors you aren`t
You can`t have you cake and eat it too. The creditors you aren`t paying and trying to settle with are going to run a credit report and see you are paying other cards but not paying them and that not going to fly with them. Its kinda hard to explain a hardship as to why you can't pay them but pay some one else. That will tick that creditor off and they either won't settle or could sue you. You can maybe leave one small card out for emergencies but anything more than that would not be wise.
Credit cards
Paul,
Thank you for your response.
I would like to try to save one for emergencies, but won't they run run a credit check and cancel my card?
