Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
emldo

0 Contributions
0 People Helped
what to do with a 2yr delinquent credit card balance?
I went through a rough time a few years back and had about 4 accounts go into collections. I made settlement offers on three of them last year, and have one remaining. The full balance is $2500, and Im probably going to settle it for $1200. I hear conflicting information about whether or not I should even pay it, as it has already screwed up my credit and will continue to do so for several years. My gut tells me to settle it; its my debt and I do want to make good on it. Any advice on what to do from here? Ive already got the other 3 accounts reporting a settled balance and would like to avoid any more. I am reading comments on here about creditors "deleting" information, is this something that would apply in my situation?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
7351 Contributions
3807 People Helped

Send them a settlement offer in writing and see if they will do a "pay for delete."  If they do, GREAT!!  If not, at least you tried.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.