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Can I settle some debts and repay others in full?

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I want to repay debt with the help of a debt relief company. But, do I have to agree to what they say? I have 4-5 debts but I don;t want to settle every debt. I want to repay the debts in full, which I'm capable of. other debts I can settle if possible. If I opt for help, will I have to opt for settlement each and every debt? Will my cerdit score be impacted less if I settle some and repay full the others?

Understood your problem.

Do one thing. Enroll only those debts which you want to settle. There is no need to list those debts which you wish to repay in full. You can do that yourself. Isn't it.

will I have to opt for settlement each and every debt?

There is no such rule. Just list those debts which you want to settle.

Will my cerdit score be impacted less if I settle some and repay full the others?

Yes. How much is your credit score? Your credit score can drop when you pay less than what you owe. But if your overall utilization ratio increases after settlement, then your score would go up.

Sub: #1 posted on Wed, 05/02/2018 - 00:15

(Posts: 3937 | Credits: )

Why don't you consider the debt avalanche method for repaying your debts?

This method works great to pay off debts that you can manage on your own.
You said you are capable to repay some debts that is why I am suggesting you this strategy.

You need to arrange your debts from the highest interest rate to lowest interest rate debt.

After that, you have to make larger payments to the highest interest rate debt while making the minimum payments to the rest of the debts.

It will help you to pay off the most painful debt first while making the minimum of the other debts.

However, to make larger payments, you have to boost your net income.

If further assistance required, please come with more questions.

Sub: #2 posted on Thu, 05/03/2018 - 06:23

Sanders Patricia Sanders Patricia

(Posts: 1234 | Credits: )

You can consolidate some of your debts if you're capable of. Doing so, you can repay your debts with just a single monthly payment.
The debts with higher outstanding can be listed for settlement. Talk to the settlement company about this. If you enroll in a settlement program, you have to make one payment against your multiple debts.
So, this way, you'd have to handle only 2 payments a month against your multiple debts.

Sub: #3 posted on Thu, 05/03/2018 - 07:04

Mabelle Page Mabelle Page

(Posts: 295 | Credits: )

I would agree with SC...

You can sign up with a debt relief company and list only the accounts you want to settle. You may consolidate your other accounts and pay them off with a single monthly payment.
You may go for a debt consolidation loan. Currently you are paying multiple debts with different interest rates. But by using the debt consolidation loan you can pay off those multiple debts, and later pay down the debt consolidation loan by making single monthly payment. This way you can avoid multiple payments, high interest rates and able to save money.

Sub: #4 posted on Mon, 05/07/2018 - 04:42

tiarajoseph11 tiarajoseph11

(Posts: 467 | Credits: )

I would suggest you weigh the pros and cons of the above-discussed options and choose that suits you the best. You can discuss it with a financial adviser if required.

Sub: #5 posted on Fri, 05/11/2018 - 07:20

Good Nelly Good Nelly
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