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Re: raw simplicity


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Posted by Linda (65.120.51.215) on August 22, 2002 at 13:12:10:

In Reply to: Re: raw simplicity posted by lucy on August 22, 2002 at 03:24:07:

No, you are not a minority. I believe most people would have preferred to be able to pay, and would pay if they could actually repay the original debt. Soince the system is structure so that is actually hurts you to pay that particular debt once it is so old, I always suggest giving that amount of money to a charity that will use the money to help people who really need help. That does some good, and if you understand the situation, as most of us do once we are educated, it solves the problem of a trouble consience. It also avoids supporting an industry that is filled with liars and con artists who say you have a moral obligation and then use your conscience to ruin your credit for another 7 years.

You owe it to yourselves and those dependent on you to take care of them, to be in decent financial standing. Paying the debt jeopardizes others, because when your credit is impaired in this manner you cannot get utilities, apartments, a mortgage, insurance, you name it... so wich obligation should be honored? I think it isn't hard to figure it out. Maybe one day the system will change, so that paying after charge off will not hurt you.

I know AmEx and a couple of other banks have accepted payments after charge off, and have then removed all derogatory entries, but there is no guarantee that they will do it, so most people are not willing to take that chance.

Linda


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