Debt Relief
Date: Tue, 08/03/2010 - 16:34
Is it better to debt settle or let it get charged off and deal with the collection companies?
It's better to settle before charge off if you can. The charge
It's better to settle before charge off if you can. The charge off is an additional hit to your credit. A lot of cards will settle between 90 days and 180 days late.
I guess I'm assuming you are trying to settle credit cards. Am I right.
My 2 cents worth. I settled all of my cc's before charge off.
My 2 cents worth.
I settled all of my cc's before charge off.
The time frame was between 60 and 151 days.
I did the right thing for me and settled 87k for 27k.
Regards,
King "Kash" Jabba Labba
I
Debt
Quote:
Originally Posted by King Jabba Labba My 2 cents worth. I settled all of my cc's before charge off. The time frame was between 60 and 151 days. I did the right thing for me and settled 87k for 27k. Regards, King "Kash" Jabba Labba I |
That's great, I have sucessfully settled with Chase for 35% of the balance. Citi, Cap One, and State farm are giving me a bit of a hard time. I am around 120 days late on each of them.
If you can settle for 30% or so, do it before charge-off. Other
If you can settle for 30% or so, do it before charge-off. Otherwise, I would take my chances with the CA who buys your debt for 1% to 10%.
Quote:Originally Posted by AnonymousIf you can settle for 30% or
Quote:
Originally Posted by Anonymous If you can settle for 30% or so, do it before charge-off. Otherwise, I would take my chances with the CA who buys your debt for 1% to 10%. |
Not I...NO chargeoff for me.
