Settling credit card debt good or bad
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Posted by gromit
(12.226.240.214) on August 14, 2003 at 16:10:18:
Im just wondering if it is wise to settle credit card debt. I have two cards that offered to settle (one for 50% and one for 75%). I have some other credit issues (student loans that are in rehab and so it will be another year before those come out. My credit is bad for at least that amount of time anyway so I figure now would be a good time to settle the cc's and then spend the next couple of years keeping my credit ship shape. Is settling credit cards a bad idea? The alternative for me is just to make timely payments over the next couple of years but Ill end paying a lot more as opposed to saving two or three thousand. thanks
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