Re: to pay or not to pay

Posted by Linda on August 21, 2001 at 21:36:53:

In Reply to: to pay or not to pay posted by carla on August 21, 2001 at 12:06:43:

Bankruptcy will go away faster than what you're doing. Your credit will be shot for 7 years after you finish paying them off. and it won't make any difference that you paid them. The way the system works, you can file chapter 7, start fresh, and in 2 yrs, if your'e smart about rebuilding your credit, you can get a home or car or anything else.

You'll have a worse time of it by negotiating and then paying. You will live with chargeoffs on your credit report, and the old charged-off debts will be sold to collectors who will haunt you like your worst nightmare. After you chase one away, they will sell it to another one. Read some of the threads here about old debts turning up out of the blue. Charge-offs don't just go away. Do your future hubby a favor and take bankruptcy.

Linda

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