Help needed in paying my debt
Date: Thu, 02/16/2006 - 13:50
lately business been slow and Im having a hard time paying them off..I have never missed a payment (well maybe once-10 yrs ago) in the last 16 years. my credit history is excellent and score is well above 720 range.
I do have cash to pay them off but with other bills
such as food, school, gasoline, electric bills and a home payment it would be hard for me to commit to paying the Credit card off, I dont want my hard earn history and score to drop though. any suggestions ? :oops:
broke123, it's great to hear that you have a very good credit sc
broke123, it's great to hear that you have a very good credit score. You might have worked very hard in building up this credit. Do not let it get hurt by making a small mistake.
Can you tell us more about these credit card debts? If these debts have taken place some time ago, you might like to consider the SOL factor before making any payment agreement. Check the date of last activity made in these account and confirm the SOL in your state. After reviewing this information, make decisions keeping your credit in mind.
If you opt to pay the debt and do not want to default on them, take a consolidation program. Once a payment is made, the accounts will become current and any missed payment will be reported to the bureaus by your creditors. If you consider consolidation service, the monthly payments will be kept lower so that there is no risk of defaulting on the payments. The interest rates are also kept lower so that repayment becomes easier by all means. Besides, there are many other benefits of this program that will make the repayment process easier.
Review the statutes and if there is a need to pay it, use the consolidation program for safe results. Your credit won't get affected due to it. A remark showing that you are using this program will appear in your file. This does not hurt your scores.
