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Help with charge off
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Posted by cody (65.173.253.60) on September 06, 2002 at 03:13:14:
I will make this short. My wife and I decided to have her stay home with our son for his first year. she quit her job and I took a better paying job within my company. With my raise we took about a $15000.00 a year pay cut from her job. We went from a almost managable $15000.00 debt to not managable $28000.00 debt. She was out of work for a year and a half and has just found a new job,(we had to move for my new position).I have negotiated with my creditors for lower interest rates and have done well. Except for one creditor I was not able to make the large payments so I tried smaller ones and I got so far behind I could not catch up. It is a credit card with a balance of $8000.00. They charged it off and now want the payment. I don't know where to go from here? I read that it stays on my record for 7 years. Do I go for the big B. I would rather not but I can't repay what they want all at once. Thank you
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