logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

Should I fit for debt consolidation program

Date: Mon, 04/04/2011 - 02:50

Submitted by bobamogul
on Mon, 04/04/2011 - 02:50

Posts: 8 Credits: [Donate]

Total Replies: 9


Hi,

Please advise, I have two credit card that went to collection as charge off total less than $1500. Now I want to pay in settle to get my credit back. Will I fit the program since the debt just to small and will my credit going higher when I have settle. Thank you


If your debt has been charged-off, then you can settle the debt with your creditor (provided he/she pulls the account from the collection agency). Otherwise, you can settle the debt with the collection agency. Once you have settled the debt, ask your creditor/collection agency to update the account status as "Paid as agreed" or "Account closed - Paid as Agreed". The debt amount may be small, but you can settle it. After all, the creditors/collection agencies are only interested in getting their money back. Your credit score won't increase immediately. As you keep on adding positive information on your credit report, your score will gradually increase.


lrhall41

Submitted by Good Nelly on Mon, 04/04/2011 - 03:00

( Posts: 2846 | Credits: )


If the original creditor has placed you in collections, you more than likely CANNOT ask them to recall it without cause. Collection agencies are hired under contract and they cannot just recall an account at will. You will need to work with the CA to pay them off.

Secondly, with only $1500 worth of debt, you would not be eligible for most debt management or cccs type programs. You also would need to be in the US.


lrhall41

Submitted by SOAPLADY on Mon, 04/04/2011 - 03:57

( Posts: 17315 | Credits: )