debt reduction to creditors
Date: Fri, 04/29/2011 - 17:05
does it affect my credit if I do it myself and ask creditors to reduce my debt. also, can you ask to reduce debt on a vehicle?
Car loans are secured debts....they will not reduced those types
Car loans are secured debts....they will not reduced those types of debs.
Are you talking about settlement on your debts? Most will not settle unless you are past due, which will tank your scores.
Not only are the missed payments a factor but it will also show
Not only are the missed payments a factor but it will also show up on your credit report that you setttled for less than the original amount which will effect your credit.
Also when you settle you must claim the difference on your taxes. It is considered income.
