Re: Please help - nextcard question

Posted by Why Chat (209.240.222.130) on August 07, 2002 at 22:51:03:

In Reply to: Re: Please help - nextcard question posted by Nextcard_settle_wannabe on August 07, 2002 at 21:49:38:

I understood your question, you did not understand my answer. A bank, as "observer" said is under no obligation to settle for less than the full amount, in fact,the banking laws prevent an account that has not been charged off from being "settled" for less than it's full amount. I have a link on my website that deals with banking rules for chargeoffs and reaging.

If you decide to default on this account, your other accounts will do the same thing, jack up your interest rates. They all do it, depending on how often they check your credit reports. They will do it even if you are completely up to date on everything if your report shows you are over extended, as you are.

If you are only able to pay the minimums on that much debt, you are in deeeep doodoo! It is BK time.

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