[QuangX]

Well I have two decesion to make in my life right now by Jan 30th,

Should I pay off my CC debt or let it chargeoff.

Within the next 7 years, I see myself as a full-time student.

If chargeoff are the option, I believe it take 7 years to go off your record.

If i choose to pay it, I will have to use my Student loan to pay for the debt.

I was wondering if i Can possibly settle an amount.

I kinda wanna do the right thing, and just pay it off. Im grown now, and more Responsible, Doubt ill ever be in that deep shiet again.

[Deuce]

Pay your fukkin bills so I don't have to in the end.

[QuangX]

CC debt is around 3k,

I do have 1k from the Niners bet last sunday
Possibly 1k from my book
and 2k coming in on the loan,
I might start working this week, which would make me around 850 after taxes. So ill be okay Gambling wise too. Well to me it not Gambling, It an investment. I sorta wanted to use the 3K into investing Stocks

[Ernie Mccracken]

3k? Holy shit get a job and pay your bills you bum.

[oiler]

depending on how long the ************ are behind.majority of them will settle on a smaller sum if u pay it off all at once

[QuangX]

Im 5 payment behind. They said in 60 days it will go to chargeoff

[Mikail]

3k is nothing. Just pay it off. Is ruining your credit worth 3k? You can make that in a week or two with some solid wagers with your 1k bankroll.

[QuangX]

If i Do decide to pay i want a better credit rating, So also is it better paying it all off at once or in small increment( I know the interest) Looking toward Credit rebuild if so..

[Walter Abrams]

Fuk the banks. They will sell your debt for pennies on the dollar. A debt collection agency will buy rights to your $3000 debt for $50. Your credit reports are already poisoned. A poster above said "pay your bills or he will have to." Is that poster related to the CEO of capital one? I think not. Let it all charge off, and if you dont feel like waiting 7 years for it to fall off your report, you can settle with the collection agency. You could settle for like $1000 for 3k no joke.

[Mikail]

Your already behind 5 payments so it is already affecting your credit rating. Call them and ask them what kind of deal they will give you for a payment in full. Hurry before it goes to collections.

[QuangX]

Fuk the banks. They will sell your debt for pennies on the dollar. A debt collection agency will buy rights to your $3000 debt for $50. Your credit reports are already poisoned. A poster above said "pay your bills or he will have to." Is that poster related to the CEO of capital one? I think not. Let it all charge off, and if you dont feel like waiting 7 years for it to fall off your report, you can settle with the collection agency. You could settle for like $1000 for 3k no joke.

yeah but wont it go for a negative on my account?

[nick86]

get into massive and i mean MASSIVE debt as a student and then file for bankruptcy

[secretstash]

if u pay it all off at once and shut the card down it will hurt u.. try n make payments and keep the card going as 12-24 months of good payments will erase ur 5-6 months of bad ones by far.

if u chargeoff ur credit will be ruined and the 7 yr punishment is dumb way to look at it considering ur credit will be destroyed for life.

-stash

[Ernie Mccracken]

yeah but wont it go for a negative on my account?

The best thing to do is pay your bills. Even if they sent you to collection, it's a lot better than a bankruptcy. Call them and work out a payment plan if you don't have 3k.

[QuangX]

Your already behind 5 payments so it is already affecting your credit rating. Call them and ask them what kind of deal they will give you for a payment in full. Hurry before it goes to collections.

They sent me a letter, I still ahve to end of january, But last time i talked to them best they can do is accept $70 to set it back a month or $370 to make it up to date.

My credit score right now is around 450. Is it worth it? Also i have a hospital credit thing too that i have to tell them to take off, which is mine but was suppsoe to be cover by countyr for my acl surgery.

Maybe credit counseling is what i need? Does that cost money?

[Walter Abrams]

get into massive and i mean MASSIVE debt as a student and then file for bankruptcy

Bad advice. Student loans from the government are NOT included in bankruptcy.

[Walter Abrams]

They sent me a letter, I still ahve to end of january, But last time i talked to them best they can do is accept $70 to set it back a month or $370 to make it up to date.

My credit score right now is around 450. Is it worth it? Also i have a hospital credit thing too that i have to tell them to take off, which is mine but was suppsoe to be cover by countyr for my acl surgery.

Maybe credit counseling is what i need? Does that cost money?

Credit counseling is a scam. They also are on your report and it hurts your score even MORE. Lenders see credit counseling on your report and you're denied instantly for any type of loan/credit. If you're behind on payments your report is already poisoned. The worst you can do on your report is missing a payment. Even if your account was over the limit its still not as bad as missing a payment. You said your score is around 450 so its already apparent they have tarnished your score. Let it go man. Live your life and dont stress over whether or not you can pay the bank back. The bank has plenty of money. Anyone who tells you otherwise, or gives you bullshit reasons as to why you should care about a bank, must be non American. I say that because banks run America and you see where we are today. You could be a good customer never messing up your account but they still wont give you a loan. You cant even talk to a real live person when dealing with the 3 credit reporting agencies. CASH is KING and money talks. Only credit you need in life is street cred.

[QuangX]

Bad advice. Student loans from the government are NOT included in bankruptcy.

Yup, You are responsible for it until you are deceased lol. I read my document

[QuangX]

Credit counseling is a scam. They also are on your report and it hurts your score even MORE. Lenders see credit counseling on your report and your denied instantly for any type of loan/credit. If you are behind on payments your report is already poisoned. The worst you can do on your report is missing a payment. Even if your account was over the limit its still not as bad as missing a payment. You said your score is around 450 so its already apparent they have tarnished your score. Let it go man. Live your life and dont stress over whether or not you can pay the bank back. The bank has plenty of money. Anyone who tells you otherwise, or gives you bullshit reasons as to why you should care about a bank, must be non American. I say that because banks run America. You could be a good customer never messing up your account but they still wont give you a loan. You cant even talk to a real live person when dealing with the 3 credit reporting agencies. CASH is KING and money talks. Only credit you need in life is street cred.

Myabe I can make a deal with them if i bring my account back to current, For them to erase the late payment? Doesn't hurt to try or it wont work.

[QuangX]

if u pay it all off at once and shut the card down it will hurt u.. try n make payments and keep the card going as 12-24 months of good payments will erase ur 5-6 months of bad ones by far.

if u chargeoff ur credit will be ruined and the 7 yr punishment is dumb way to look at it considering ur credit will be destroyed for life.

-stash

I thought after 7 years, it will be gone off completely due to some law.

[Walter Abrams]

I thought after 7 years, it will be gone off completely due to some law.

It will be wiped off your report after 7 years of last activity on the account. The SOL for them to sue you is usually 4 years or less. It vaires state to state.

[Walter Abrams]

Myabe I can make a deal with them if i bring my account back to current, For them to erase the late payment? Doesn't hurt to try or it wont work.

Before you send them a dime, get the agreement in writing.

[nick86]

Bad advice. Student loans from the government are NOT included in bankruptcy.

was this also the case when banks provided the loans? i'm not too familiar with us student loans.

[Walter Abrams]

was this also the case when banks provided the loans? i'm not too familiar with us student loans.

A bank is the servicer. Student loans are done through the government though. They're "co signing" for the student so to speak. Your credit is not checked for a student loan. You cant stiff the Government when they co sign for you. A personal loan from a bank without the Government invloved is enitrely different.

[LVHerbie]

Get a settlement (as suggested above in writing) and once the debt is settled dispute it in your credit report (just say something like "paid in full" as the reason)... They have to verify the debt everytime you do this and, since they have no interest in maintaining the record once you cleared the debt, typically you can negative aspects off your credit record fairly easy...

[flyingillini]

3k? no mames...you can't make this shit up....

[nick86]

Ahhhhhhhh I see

[Mikail]

I always tell people this. If a debt reaches collections then there is nothing you can do about it. Paying a collections company a debt they purchased will not improve your credit. This is why it's important to work it out with the creditor before the sell the debt off.

[QuangX]

Get a settlement (as suggested above in writing) and once the debt is settled dispute it in your credit report (just say something like "paid in full" as the reason)... They have to verify the debt everytime you do this and, since they have no interest in maintaining the record once you cleared the debt, typically you can negative aspects off your credit record fairly easy...

I heard you can only have a settlement after you are in chargeoff, However it will be in my record that i Owe a debt that been settle which wont help me out in teh future

[RudyRuetigger]

what should you do?

depends how you feel morally.

1. man the fukk up and pay it

2. it was a mistake, let it go and fukk them

3. get every CC you can maxed out and fukk them all or win an all in play to pay them back

a settlement will do nothing except make you pay money and your credit rating will be fukkin horrible after it. its getting that way already if youve missed 5 payments.

[ttwarrior1]

chargeoff???

u see my threads about getting phone calls and mail everyday and harrassing, they sue and take you to court nowadays

[ttwarrior1]

3 k, lmao thats so week, chill out for now

[LVHerbie]

I heard you can only have a settlement after you are in chargeoff, However it will be in my record that i Owe a debt that been settle which wont help me out in teh future

Once you settle you no longer owe anything and often can get things deleted at that point... Also once it goes to collection you can get it stipulated that your settlement is conditional on them deleting the record of the debt... Google "pay for deletion"...

[TheCentaur]

Is the 3k the majority of your debt? If so, it would be a bit retarded to pay almost 1k to file Chapt.7 for 3k. Any attorney who recommends this course of action should be disbarred.

Also:
Pay debts first
Gamble second

[QuangX]

Once you settle you no longer owe anything and often can get things deleted at that point... Also once it goes to collection you can get it stipulated that your settlement is conditional on them deleting the record of the debt... Google "pay for deletion"...

Once you settle you no longer owe anything and often can get things deleted at that point... Also once it goes to collection you can get it stipulated that your settlement is conditional on them deleting the record of the debt... Google "pay for deletion"...

Hey, This route is not that bad.

Quick question though, So which path should i Take

1) get chargeoff, and then do paid for deletion

2) pay for it before it get to chargeoff

Im at 400, If i get chargeoff, How bad will my credit go?

But after the removal, I should be able to rebuild