Anyone ever suffer as much anxiety as I am right now when trying to start the process of cleaning things up? I have been procrastinating about a month now and really need to get the ball rolling, I am just scared that I will screw up somewhere along the way. This feeling sucks I just don't want to open up a can of worms that I can't close back up again...you know? Oye Anyway this is what I have ahead of me: -2 CA's to send validation letters to and get the ball rolling on that. -2 OC's (MC and VISA) that are way overlimit for the past 3 years that I plan to settle with. I will use my refund money for this along with a goodwill letter to explain why I fell behind in hopes that they will removes lates (crossing fingers). -1 OC (MBNA) that charged off and sold the acct to one of the CA's mentioned above. Sheesh, I just really wish I could put my anxiety aside and attack this already. How did ya'll handle this?
Willdogs, it's tough to do anything if you're anxious about it. Do one letter and see what happens - that will build your confidence. Just take it piece by piece - if you look at it like a big mountain, of course it will look overwhelming. But if you just sit down and do one letter, you'll be able to scrach one letter off your list and you'll see how easy it really is. You gotta just make the first step and all the other ones will come into place. It's much worse thinking about it than doing it! Ozzy.
I'd make sure the SOL has passed on the Visa and MC before I stirred them all up. You may end up getting sued.
Good point on the SOL... but seriously, I would not worry about it, what are they going to do that is so horrible? You won't go to jail-- the most that will happen is you will be asked to settle some old debts and in that case, you might end up feeling better anyway. Just go for it.
Thanks for the replies everyone! You are all making me feel better yay! :bigsmile: As far as the MC and Visa, I had been paying them through a CCCS until recently. I still have a $1600 balance with Visa (orig limit $1000) and a $400 Balance with MC (Orig limit $100). So since I have been paying them monthly for the past several years, I don't think the SOL pertains here does it? I was really bad during my college years 3 years ago and am paying for it now. Most of my charges on the MC and VISA are fees fees and more fees. I never paid them back int he day Now I am older and wiser. Thanks again
PS... I'm confused on why MC and VISA would want to sue me if it were past SOL? If I am offering them a settlement, wouldn't they wanna take my money? Why sue me?
I think the were referring to lawsuits if the debt was within the SOL (which they would be if you are paying on them currently) and only if the balances were large enough and you didn't want to pay the debts voluntarily. I don't think you will get sued for those amounts, they aren't that large. Especially the $400 account. I would work with that one right away and get that one settled for deletion with the OC. The $1600 account would be a good candidate for settlement for a certain percentage of the balance, but only in exchange for favorable credit reporting. It might be good to offer to pay the whole balance for favorable credit reporting if you have the funds. First thing you should do is dump the credit counseling service if you are still doing that. That just wrecks your credit even more, and you can take care of this yourself without the extra beuracracy of the CCCS. If the accounts haven't been turned over to collections, try to take care of them BEFORE the creditor does this. It is much easier to work with the OC than some boneheaded CA, not to mention you don't need the extra collection tradelines on your reports in addition to the lates already on there for the same accounts. For the CA's you are dealing with, you need to request validation ASAP. Get that process started. If they can't validate, then everything is mute. They will have to cave in eventually. If they can (unlikely), then you can work with them to settle the account or handle it in a few other ways. It sounds like you aren't going to do any harm to yourself by beginning the credit repair process. There really isn't anything to be afraid of if you study and know the laws and the processes that apply to your situation and use them to your advantage. Just be smart about it. You definitely aren't going to get anywhere by sitting there staring at your reports hoping they will get better by magic. Good luck..
What's more important, anxiety or your reports? LKH | ================== When they start jacking all his interest rates and insurance premiums is when the real Anxiety begins