|
|
Re: Negotiating with Original Creditors
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by Why Chat (209.240.222.130) on May 08, 2002 at 00:53:13:
In Reply to: Negotiating with Original Creditors posted by Sue on May 07, 2002 at 23:46:35:
If you are able to bring your accounts current, and keep them current, your 2 year "reporting" history will clear itself up in 2 years. However,if your abilty to pay is based on something like an accident settlement, or other "one-shot" situation, you need to analyze your future more carefully. Will you be able to keep current? Do you have emergency funds? Do you in fact qualify for ch.7 BK? A ch.13 is about the same as ch.7 for your credit as it takes 3 years to work out,(plus all the $$$).You need to look at your total situation, not just the debts.A credit rating of 700+ will do you little good if you don't have any $$$ to use for whatever benefits you seek for your good credit.
Follow Ups:
Post a Followup
|
