How does it work if you have bad credit and you come into a big cash settlement? For example 250,000+ will you recieve offers for credit that you would not have recieved before?
Nope. Your credit has NOTHING to do with your assets. You could be bill gates, and have bad credit, the computers will shoot you down and not make any offers. Here's what you do, take that big $$$ and bribe all your past creditors with cash and get them to remove everything. It works
Yeah but if you tell them you've come into money you're screwed.They'll try to sue for full amounts plus... Tell them you MAY be able to borrow money from a friend.. but only part of the debt and only if they remove all derog completely. If they know you have assets or are going to have assets they'll nail you to the wall because they can. If the money is a sure thing: negotiate now but have THEM send you settlement letters signed and you don't sign and return the letters until you get the money (Otherwise you're obligated to do the deal regardless of whether or not you get the extra money)
