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Re: Settlement Advice needed in CA


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Posted by scott (65.25.98.79) on August 04, 2002 at 13:34:17:

In Reply to: Settlement Advice needed in CA posted by hughes on August 04, 2002 at 11:58:58:

Somehow I missed the part about you have the 25k. I would definately pay off mbna,chase, and household and just make payments on citibank. Also, keep in mind if you do not close those cards you will just be back in the same mess without a 25k bailout. Maybe keep the citibank and the oldest card between chase and mbna so you do not get hit with lost points. You will gain probably 30 points just from the revolving %. 1-2 credit cards gives the max amount of points to your credit score. Anything less or more starts subtracting and remember 30% of your score is reflected by your revolving % only. As for household, I would try and offer full payment for a deletion but make sure you get it from the CA and household. You could even try and work with household and skip the CA(sometimes it works and sometimes not) but if you settle and pay less than you owe then be prepared for a 40 point loss for 7 years. Tell the CA or household you have 2 chargeoffs and you can afford to pay one in full but only if you can get a total deletion or even better all late history taken off and it just put as paid never late closed.



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