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Re: may work out ok!
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Posted by Why Chat (12.77.148.251) on May 21, 2002 at 14:00:44:
In Reply to: may work out ok! posted by robyn on May 21, 2002 at 02:16:25:
Be VERY careful if you are "settling" it would pay you to have a lawyer handle it. Remember, your credit report will show "settled" and it will be on record for an additional 7 years, UNLESS they agree to not verify to the CRA's when you dispute it. ALSO many collection agencies RESELL the uncollected part of the debt to another collection agency. You may have some income tax payment due on the part you are not paying. By the way- chapter 13 is generally a BAD idea, if you can do BK do Ch 7, before they change the law.
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