Re: Settling credit card debt good or bad

Posted by Bannister (199.244.214.30) on March 03, 2004 at 14:41:03:

In Reply to: Re: Settling credit card debt good or bad posted by Wunderbra on August 15, 2003 at 00:48:05:

I would like the add that the advice given above is BAD advice. If the debt is Charged-off, it is still valid, a publically held company just no longer can list it as an asset for Wall Street. Settling the debt will increase your scores somewhat on your CBR, but they cannot undo the past. You still have to ride that part out. However, if you ever plan to buy a house, you lender will require that you pay that debt. Better now, when you can control the interest you pay and are in a position to negotiate, than later when your hand is pressed and the creditor knows you are buying a home.

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