Help - Newbie with questions

Posted by CAT11 (65.61.95.43) on March 16, 2004 at 15:58:50:

Hi,
I lost my job and have a lot of credit card debt. I was robbing Peter to pay Paul for awhile. Anyway, many of my credit cards are now at the stage where the accounts have been closed and are either charged off or about to be.
My question is, I have a friend that I can borrow some money from - what do I do if the credit card company won't take the money? Do I pay the collection agency? Do I take their settlement offer? If I pay the collection agency the full amount I owed the credit card company does that get notated on my credit report?

Thanks for your help!
Christine

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