Hi. I am just starting tonight to repair horrible credit debts. I have read postings on this board and others. I am thinking of just just trying to settle paying 50% of what is owed. Here are my questions: 1. If I settle on a amount do I need something from them saying they will accept the settlement? 2. Will they remove it from my report? OR will they only say it was paid? 3. Is there anything I can do to MAKE them remove it from my report all together? I owe to credit cards, student loan, electric company, library, military credit and a phone company. Thanks.
What is SOL? 3 are "charge off" 1 is "colosed" The oldest one is 2/99 Is there any such thing as a professional negotiator?
depressed, We all started this process as "virgins" so to speak. You need to spend some time reading the primers which are the top 5 or so threads. SOL stands for statute of limitations...which is simply the time frame in which a creditor or a collection agency can sue you and get a judgment. The SOLs vary from state to state. My advice is to do some homework. Ask one specific question at a time. It took you awhile to get into this mess and it will take time and patience to get out of it. People here will be able to help you a lot better if you do your homework. If after reading all the info that is posted in the top 5 threads and you have more questions then do a "search" and you will find specific answers to your questions. If you still have questions then post a new thread. Good luck and welcome!
^^^^^^^Exactly what I would have said.^^^^^^^ Dont be in a hurry, study up first, and do some research on your enemy. Many others on this site have probly dealt with them before, and that should help you deal with them. They will most likely say that they dont negotiate, and they dont remove. Check the SOL in your state, and start from there. Someone wrote "You didnt damage your credit in a day, dont expect to fix it in one." Do your research and GOOD LUCK!!!
