I am in need of financial/credit advise and have tried several forums for this, but still have not received a definite answer on what I should do. I don't mean someone should know for sure what would be best for me, but the opinions have been very diverse and have only confused me. I hope I can compile more information here and be able to make a wise decision. I have recently had trouble with one of my creditors, to whom I owe approximately $20K in 3 credit card accounts. Due to circumstances that are not the object of this forum, this creditor has reported late payments 3 times on my 3 accounts in the past 3 months, therefore "dirtying" my profile with 9 negative reports in a short period of time. I have since contacted the creditor in order to correct these discrepancies, to no avail. I then stopped paying my bills, both because of monetary hardship and because I was hoping to find a solution to my problem, for which I first considered credit counseling services, but then learned it was not a good choice. This is not the first time I have this type of problems with this creditor, which is the reason why I decided to apply for a loan somewhere else where I could transfer my balances. However, the last 2 times I applied for a loan recently, it was denied due to my creditor's reports. Right now, I am not sure what I should do and need advise from others who might have lived and/or heard of a similar situation, or simply have the knowledge to deal with it. Logically, what I want to do --like most people in this forum-- is to remove the inacurate entries in my credit profile and eventually be debt-free. However, I am not sure which way to go from where I stand. 1) Should I simply let the accounts fall into collection and then file for a settlement requesting that the creditor deletes all the negative information in my credit if I pay off my debt? This way I'd end up with a clean credit history and perhaps even a lower debt. The problem I see is that this creditor has its own collection agency, so it's not like a settlement with the customer (me) will be more advantageous to them than having to give up 30-50% of the balance to a third-party collection agency. They might not give in... ever. ... or... 2) Should I restart the payments, do my best to at least meet the minimum payment from now on and, in the meantime, dispute every entry with the credit bureau? My concern in this case is that all the entries are very recent and close to each other, which might make it much harder for the credit bureau to regard this as a legitimate dispute and easier for the creditor to --unscrupulously-- prove the authenticity of them. Keep in mind that we are talking about a $20K balance, to which a creditor will pay more attention and dedicate more time than a smaller debt. Should I do this, the creditor will estimate I can still pay --disregarding how hard it would be for me to obtain the money-- and simply not give me any chance for a settlement in the future unless I slack off for a long time again. ... or ... 3) Should I change my address and phone # with the creditor, cash my little savings, claim bankruptcy and after approximately 6 months start disputing. When I last spoke to the creditor about a month ago, I had no job. However, I do now and I am making almost $50k/year. Wouldn't this be a factor that would negatively influence the judge's decision if I do apply for bankruptcy? The only other thing I pay other than my credit cards and rent is my car. My monthly installment is $425, I owe about $10K on it and the car is worth a bit more than that. Wouldn't the judge condition my bankruptcy on my turning in the car and getting something with a lower monthly payment? I've heard of those cases. ... or ... 4) Should I change my address and phone # with the creditor, cash my little savings and avoid them for about 6 months, after which I should start disputing the validity of my accounts with the collection agency? The oldest of my credit cards is about 5 years old and the newest, about 3.5. What are the odds of them not having my original contracts? This creditor is a MAJOR one and I would think they are highly organized. Plus, if they find one, chances are they will find all 3, in which case I will be back to square one after almost a year and with much worse credit. I hope you can understand exactly where I am coming from and suggest whether I should go with one of my approaches or simply with one I have not thought or heard of in the other forums. Thank you very much in advance and good luck to all seeking help in this forum! Ray G.