Hi, IM seeking some advice on what to do with my debt. We are behind on several things and im trying to get our financial life in order. We just moved into a new house and we have baby #3 on the way. We have 3 bills in collections totalling about 1100. I also have a credit card that has just been "charged off" by the company, i owe 750.00 on it. IM stuck between 2 options here. One is to send each creditor a check each month with the small payment i would be able to make, another is to go into some debt management progeram but i have heard some not so good things about them. Any suggestions on whats best to do to start reliveing this debt without straining our already tight monthly budget?
indianajen ><- <>- ><- <> ~~~ ><- <>- ><- <> ><- <>- ><- <> ~~~ ><- <>- ><- <> More details needed ><- <>- ><- <> ~~~ ><- <>- ><- <> ><- <>- ><- <> ~~~ ><- <>- ><- <>
did you buy your house? are any of these collections on your CR? i would recommend reading your face off here for awhile before you make any decisions. but even after that, paying your debts will be up to you. educate yourself, and then decide what is best for your particular situation. if these collections ARE on your credit reports already, it will do your credit score no good to pay them. i would say to offer a settlement in exchange for deletion, but you probably don't have large enough chunks of money sitting around to do that. If this was me, I wouldnt pay them a little each month if it was going to put a strain on my financial situation. Do you have any income tax returns coming? (yikes, i sound like a CA monkey...) but seriously, being only $1100.00 in debt isnt really all that bad....maybe you could use tax returns to settle the accounts for less than whats actually owed? problem is, i know they arent as likely to settle for less when the chargeoffs are so new. have you researched whether the CAs are required to be licensed /bonded in your state? Have they called or sent letters? lots of questions before we can help any more than that i'm afraid.... do some searches and READ READ READ... good luck!
--- Reading Matter. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=410243#post410243
