TAG | Job
May/10
31
Is credit card debt settlement bad for your credit?
1 Comment · Posted by sanbank in Credit Card Debt Settlement
I am a senior in college, I have no job now as I am finishing school. I start work in June, and I actually have good credit, over 700, and 5k in credit card debt. I’ve paid my bill in full always in the past until my last killer spring break. Debt settlement sounds cool to cut the debt in half which I would pay off with a lump sum, or should I just stomach it for another month where I can pay it all off entirely in full. Thanks.
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Credit Card Debt · Debt Settlement · finishing school · Job · lump sum · spring break
emilyru23 asked:
In year 2007 July I filed a debt settlement program to settle my credit card debt for 3 creditors. Estimate pay off $425 per month for 30 months. In 2008 I got married and my husband didn’t know anything about my debt, he had a house which he brought it before we got married, he had refinance the house lately, it needs my name on the Deed of Trust under Tennessee Law. I already settle one of the creditor in 40%, but in December I’ve lost my job and I’m also 8 months pregnant now, which is really difficult for me to find a job in today’s economy situation. I just paid off the entire estimate amount recently but since I have not paid the creditor directly they accumulated the interest. All the money in reserve account is only enough to pay off 30%- 35% of the total debt. Is that enough? And what if they turn off my offer? Will they put a lien on the house even my husband brought it before we got married? Is it too late to file bankruptcy? I don’t care about my credit but I can’t let they take any action for the house or my husband; he has nothing to do with this. The two creditors are Chase and Citi. Many thanks!
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In year 2007 July I filed a debt settlement program to settle my credit card debt for 3 creditors. Estimate pay off $425 per month for 30 months. In 2008 I got married and my husband didn’t know anything about my debt, he had a house which he brought it before we got married, he had refinance the house lately, it needs my name on the Deed of Trust under Tennessee Law. I already settle one of the creditor in 40%, but in December I’ve lost my job and I’m also 8 months pregnant now, which is really difficult for me to find a job in today’s economy situation. I just paid off the entire estimate amount recently but since I have not paid the creditor directly they accumulated the interest. All the money in reserve account is only enough to pay off 30%- 35% of the total debt. Is that enough? And what if they turn off my offer? Will they put a lien on the house even my husband brought it before we got married? Is it too late to file bankruptcy? I don’t care about my credit but I can’t let they take any action for the house or my husband; he has nothing to do with this. The two creditors are Chase and Citi. Many thanks!
Create a video blog
