HELP with this one PLEASE !!!!

Discussion in 'Credit Talk' started by racinut88, Jan 22, 2001.

  1. racinut88

    racinut88 Well-Known Member

    I had a year two years ago when work just stopped and I got out of control with debt.
    I just got done on the phone with all those people that have been calling trying to get money out of nothing for along time. I saved this past year and took and paid settlements to all that would accept which almost everyone took a 50% settlement. I have two Cap1 cards and an ARIA that I don't know how I got. I am going to cancel it. Was that the right thing to do since some of which is charged off and is 50% to much or not enough and what is the next step?
     
  2. Momof3

    Momof3 Well-Known Member

    RE: HELP with this one PLEASE

    I am sorry I am confused do you have 3 accounts in good standing, what are you cancelling ??
     
  3. racinut88

    racinut88 Well-Known Member

    RE: HELP with this one PLEASE

    Yes I have two accounts with Cap 1 and an ARIA but that card( ARIA ) has a 89.00 fee so I want to cancel it.
     
  4. roni

    roni Well-Known Member

    RE: HELP with this one PLEASE

    I, like Mom, had trouble understanding your post. Please help me out by rephrasing it a little. But I have this to say for far. If you already paid the settlement, it is too late to second guess. The best you can do it dispute the items. Hire Junum. If the accounts are in good standing with no lates, why are you cancelling them. you need some good recent credit. Are they recent? Are they good accounts with no lates?

    roni
     
  5. Momof3

    Momof3 Well-Known Member

    RE: HELP with this one PLEASE

    Well considering your recent credit problems you may want to keep these accounts open and in good standing for atleast 12 months and then apply for other cards. It takes time to build or rebuild credit, of course this is just my opinion.


    mom
     
  6. racinut88

    racinut88 Well-Known Member

    RE: HELP with this one PLEASE

    I still have a few to pay off and was wanting to now if I made a mistake on the others by what opinions I get back. As for the accounts I have open the ARIA I just got the card and declined it when I applied after I seen the 89.00 fee, they sent it to me anyways
     
  7. roni

    roni Well-Known Member

    RE: HELP with this one PLEASE

    Sorry to tell you but with bad credit and collections paid or unpaid, you have to start with these sucky offers. $89 is steep. But you usually get this with unpaid collections on your reports. A settlement is not that great. You also have to negotiate deletions of these items for payment instead of accepting settlement. 50% is good if you get them to delete it. %50 is not great if they are leaving settlement on your report. It will still be coded as a charge off R9.

    roni
     
  8. Jo

    Jo Guest

    RE: HELP with this one PLEASE

    You have said you have settled some and not all, and you think a annual fee it too high to pay, sorry but you are lucky to even get a card, I suggest you don't look a gift horse in the mouth and take what you can get unfortunatly you are going to be in subprime for awhile. and if you settled for less and didn't get them to agree to a deletion that is going to look bad on your reports and the fact that you just settled/an are still settling you should be happy with any card!!!
     

Share This Page