Posted on
May 11, 2008
at
11:58 pm
I'm pretty sure from my investigations both here and elsewhere anything less than full, on time payments will affect your credit. Others here can correct me if I'm wrong but settlement is viewed almost the same as bankruptcy ( maybe slightly more favorable) and can give you negative dings up to 8 years.
Posted on
May 12, 2008
at
4:12 pm
Also i'm sorry I must have had a brain fart, I mean to spell it as"negotiate" not negoiate
Posted on
June 9, 2008
at
7:28 pm
Negotiated payments can do nothing but help your credit as long as you stick to the negotiation.
Posted on
June 13, 2008
at
6:03 pm
I'm sorry - I guess I'm not following the question. I thought you meant 50% of the lump sum of the total owing, which I thought would be a positive step in the right direction. But do you mean 50% of the minimum payment? That would be a less desirable situation, I'm sure.
Posted on
January 23, 2009
at
8:21 pm
Only making a 50% payment would seem sketchy at best. It would help if you had other debts that are needing paid on.However, if you had the opportunity to pay just half of a total debt... I don't care about the negative impact you should take that deal!
Posted on
January 24, 2009
at
7:05 pm
Here is a true life answer to your question about consequences. My son paid off this one particular credit card 50ยข on the dollar per agreement with the credit issuer. The attached consequence was he could not use this particular issuer's cards in the future. No big deal as he now has several other cards to take its place and, in the process, has learned 2 valuable lessons. One, don't charge more than you can afford to pay off by the due date. Two, always pay the balance due in full when you get the statement. I don't know if that helps but I hope so.
