Need some advice - I owe various creditors about 40k. I have been unable to pay for the last 6-8 months on all of these accounts. My question is now that I have the funds to pay these accounts off should I wait to receive settlement offers (none yet) and then negotiate lower pay-offs? (credit sAlso, the longer I wait the larger the balances grow (late fees, over limit etc) and subsequently the larger the settlements will be in the future. What can I do? I am ready to settle now but perhaps its still to early in the game. P.S. Credit score per myFico is 503. Multple negs (30 - 120 days late) DavidS
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whatever you decide to do, make sure you get it in writing that they will change the account to read "paid as agreed" or that they will delete the entire tradeline.
