I posted yesterday abput some debt I tried to settle using Debt Rescue....well, that haven't done anything but take mu money and make it worse. Would it be good to do this mself? Like send a letter to the company and tell them what I can settle for and then see if they will help make a payment plan and erase off my credit history? ( I won't even be able to settle for 25%, but anything has to be better than nothing) These are old credit cards and haven't been paid in a year...I was under the impression Debt Rescue had all that worked out with them. The credit cards have already been sent to collection comanies ( I guess written off) I would rather do it through the original creditor if possible. The cards are Chase Manhatten Visa and First Union Visa. Also, are there any companies I could get a loan from to pay these debts. (since messing up my credit it is hard to get a loan) Thanks for and advice or information! Itis time to try and start building up my credit again!
You should probably do some more reading first. Check out the FAQs and read old posts before you do anything. How old are these (i.e., when were they charged-off)? Is it *alot* of money? And, who currently owns them and how are they being reported? You'll need to know who even owns these before proceeding (i.e., you can't pay the OC if they sold it!). Also depending on the amount of the debts, you may want to be careful about "waking sleeping giants". Just my $.02.
I am unable to find the Q&A section! I really wouold like to find a letter to try and settle the debt I can for the smallest amount.....
The FAQ is at the top of the list of posts. There are debt settlement letters floating around (do a search), but as I said before, you need to take some time and learn more before you fly off the handle and start sending settlement letters out. Remember, if you don't get a settlement in exchange for deletion, it will stay on your reports, and it will not help your score.
