Settling with a job vs. no job.
Date: Fri, 12/24/2010 - 17:16
My question is this: should I be honest and tell my creditors that I just got a job and that I'd like to save up so that I can settle in 4 to 6 months or should I just say that I'm unemployed and cannot pay anything to anyone? Can they sue me for wage garnishment if they know that I have a job?
Maybe I should be cashing my paychecks and putting them under the mattress. ;)
You are going to have a difficult time refinancing with negative
You are going to have a difficult time refinancing with negative tradelines on your report. If you are successful, your debts will see the new account and know you are employed...no one is refi'ing while unemployed.
Creditors do not want to hear at this point you want to settle. And depending on the creditor they may sue you quicker.
Don't tell them anything. Simply tell them that you have nothin
Don't tell them anything. Simply tell them that you have nothing now to pay. DO NOT EVER tell them that you are saving to settle!
Keep your conversations short. Just tell them I have nothing now to give you. Don't offer much at all.
What do I do when they start to ask me about a job? I understand
What do I do when they start to ask me about a job? I understand about keeping the conversations short, but I also feel that knowing I have a job, they are more quick to sue.
SOAPLADY, I said that I DO HAVE A JOB. How can refinancing with a job be worse than not? People refinance specifically to cash out and get out of debt. What you're saying contradicts that. How else am I going to settle then?
What about a Home Equity Loan instead of refinancing? I was coun
What about a Home Equity Loan instead of refinancing? I was counting on my equity to help settle my debts. If I can't even do this because of my debts, where else am I going to get the money? Work? It'll take me many years with the low salary that I make. Suggestions anyone?