|
Welcome to the YorkieTalk.com Forums Community - the community for Yorkshire Terriers. You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. You will be able to chat with over 35,000 YorkieTalk members, read over 2,000,000 posted discussions, and view more than 15,000 Yorkie photos in the YorkieTalk Photo Gallery after you register. We would love to have you as a member! Registration is fast, simple and absolutely free so please, join our community today! If you have any problems with the registration process or your account login, please click here to contact us. |
|
| LinkBack | Thread Tools |
05-11-2012, 03:25 PM | #1 |
Donating YT 11K Club Member | Settling credit card debt.. Does anyone have any info on this? i have one credit card that they sent me letter offering to settle it for about half. I would like to do that but I don't know how it would affect my credit later on, will i be able to open credit cards in the future, etc anyone know? Should i settle or pay in full, which will take a long time because i don't have the money right now.
__________________ Primrose, Teddy..RIP, Livie..RIP, And can never forget my duo Sophie and London, Run in Peace <3 |
Welcome Guest! | |
05-11-2012, 03:35 PM | #2 |
I love TBCG! Donating Member Join Date: Feb 2006 Location: MD
Posts: 7,227
| I would definitely settle and request a letter of satisfaction to send to the credit bureaus i.e. experian, equifax and transunion to have it show as paid in full. I use to work in the mortgage industry and have never seen such settlements negatively impact someone's credit. Also, just as a side note when you settle make sure you get the letter of satisfaction and send to the credit bureaus the cc company will not make much effort on that end. You can order a copy of your credit report from all 3 (you get 1 free report per year) and the addresses are on the report to send the letter to.
__________________ Morgan Mommy toGeorgie boy & Isaiah RIP sweet Coco 10/12/99-8/1/12 Read About Georgie's Experience with Atlantoaxial Instability (AAI) Here! |
05-11-2012, 04:14 PM | #3 | |
Resident Yorkie Nut Donating YT 20K Club Member Join Date: Sep 2006 Location: Texas
Posts: 27,450
| Quote:
__________________ | |
05-11-2012, 04:36 PM | #4 |
I love TBCG! Donating Member Join Date: Feb 2006 Location: MD
Posts: 7,227
| Also another suggestion is literally writing this on the back of check above the endorsement line: Deposit of this check constitutes account paid in full. If the cc company deposits it you can also get a copy of that from your bank and send to the credit bureaus. I have recommended that for clients and it works.
__________________ Morgan Mommy toGeorgie boy & Isaiah RIP sweet Coco 10/12/99-8/1/12 Read About Georgie's Experience with Atlantoaxial Instability (AAI) Here! |
05-11-2012, 04:56 PM | #5 |
Donating YT 11K Club Member | Well they're the ones that sent me the letter offering it..but won't it not say paid in full cause i am not actually paying in full? i am paying half of it if i do it. i called the debt collectors and asked them a couple questions about it, what will they wrote and what will show up on my credit and they said it is chase(they were hired by chase) that will determine that. They are just in charge of getting the money. So what do i do? i want it to be written as paid-not partially paid
__________________ Primrose, Teddy..RIP, Livie..RIP, And can never forget my duo Sophie and London, Run in Peace <3 |
05-11-2012, 04:58 PM | #6 | |
Donating YT 11K Club Member | Quote:
__________________ Primrose, Teddy..RIP, Livie..RIP, And can never forget my duo Sophie and London, Run in Peace <3 | |
05-11-2012, 05:06 PM | #7 |
Donating YT 11K Club Member | Here is the letter they sent.. i really want to get rid of this already and pay it off.
__________________ Primrose, Teddy..RIP, Livie..RIP, And can never forget my duo Sophie and London, Run in Peace <3 |
05-11-2012, 06:13 PM | #8 | |
Donating YT 500 Club Member Join Date: Dec 2010 Location: At Home
Posts: 8,386
| Quote:
I would proceed with much caution on this. Have you actually called Chase Bank and discussed your account with them? Sometimes talking directly with the Bank you can at times work out a repayment plan. I would just very careful with the people who sent this letter. I hope you able to get things worked out.
__________________ [SIZE="3"VICKI & ALLIE[/SIZE] | |
05-11-2012, 06:35 PM | #9 |
and Khloe Mae's too! Donating Member Join Date: Feb 2009 Location: Eastern Washington
Posts: 14,732
| I think your best bet would be to just pay it in full... I cannot imagine that they would let you pay half of it without effecting your credit.
__________________ |
05-11-2012, 06:51 PM | #10 | |
Resident Yorkie Nut Donating YT 20K Club Member Join Date: Sep 2006 Location: Texas
Posts: 27,450
| Quote:
Credit card companies make these deals all of the time...I would definitely want to know that Chase approved of this deal though.
__________________ | |
05-11-2012, 07:29 PM | #11 |
Donating YT 11K Club Member | Yes its already bad cause I haven't paid it in so long, I made a payment a while ago and then haven't since then so I already know I have to build it back up. It is an offer by chase though. Idk if I should do it. I def. Don't have enough to pay it in full
__________________ Primrose, Teddy..RIP, Livie..RIP, And can never forget my duo Sophie and London, Run in Peace <3 |
05-11-2012, 07:35 PM | #12 | |
Resident Yorkie Nut Donating YT 20K Club Member Join Date: Sep 2006 Location: Texas
Posts: 27,450
| Quote:
The way it is now, you are racking up more debt....with interest and penalties. You could contact a debt counselor for advice. I don't think they charge for an initial call/visit.
__________________ | |
Bookmarks |
|
|
| |
|
|
SHOP NOW: Amazon :: eBay :: Buy.com :: Newegg :: PetStore :: Petco :: PetSmart