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Re: Ready to Settle- need help


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Posted by Linda (65.120.51.44) on September 26, 2002 at 02:36:01:

In Reply to: Ready to Settle- need help posted by About to be Broke on September 25, 2002 at 00:20:43:

OK, if THEY send YOU an agreement to settle, you will be fine. You do not need to write anything on the check. The worst that can happen is they send you a 1099 for the part of the balance they write off.

If you have money to settle it, why not bring it up to date and avoid a charge-off (R9) on your credit report? All you would really have then is late payments, which are nowhere near as bad as a charge-off. Or is it already too messed up to worry about?

Linda


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