In need of MAJOR help!
Date: Mon, 10/10/2011 - 15:35
So to sum it up, I have 2 debts that I need to pay off. One I need to get up to date, and one that I start paying off this month.
Now from the one I am paying this month, it was from a Dell computer. Now from what I understood in college, I thought it could last for 7 years. Apparently I was wrong! Now if I don't start resolving this I'll have a judgement against me, and then possible garnishment. In that case I am paying $443 a month.
Now the other one is from student loans that haven't done a darn thing for me to this day! Totaling in about $7,000. They offered me a settlement of $2,803 but I know that shows different on your credit. I know a little bit because I'm a collector myself.
So here's the only thing, I'm trying to get this resolved asap. But I don't know how I can do this. Is there anyway that would help me get this resolved asap?
I bank through Wells Fargo so I don't know if they would help me.
Thank you!
Jeremy
You can get out of this. It's not really that much. I know how y
You can get out of this. It's not really that much. I know how you feel. I made a bunch of mistaqkes when I was younger.
Are you employed? Do you have some cash saved up? If not you need to get some sort of employment. The Dell debt has most likely been sold many times over. You can most likely settle that debt for about 25% of the outstanding balance. If you want to know how to do that, head over to my website where I wrote an article about How to protect yourself when dealing with bill collectors. There is also a lot of other information which may be helpful for you at Debt Snowball Calculator.
As for the student loans, they will not settle. I am not sure who you dealt with that said they would. I would be leery of any such offer. Student loans are guaranteed by the federal government and therefore there is no reason for the creditor to settle for less money than they are guaranteed.
Good luck and I am sure you'll find it is not as bad as you think.
Yeah, this is not much of a complex situation. You can easily pa
Yeah, this is not much of a complex situation. You can easily pay off these debts. I think you need to start budgeting in order to save money on your expenditures. This will help you in making the payments on the two debts that you owe. As for the student debt and the settlement, yes, it is going to have a negative effect on your credit but if you have already missed payments on it, it would be better for you o go in for the settlement. Paying off the debt is a much important task.