Posted on
September 25, 2009
at
5:49 am
hullo will debt settlement work with charged off credit card debts?
Posted on
September 25, 2009
at
5:51 am
will debt settlement work with charged off credit card debts?Yes it will, a charged off credit card debt only means that its collection has been passed on to another group (collection agencies).
Posted on
September 25, 2009
at
5:54 am
The consumer usually contacts a debt settlement company to negotiate the balance on that charged off account, to prevent being served a lawsuit.
Posted on
September 25, 2009
at
5:55 am
How would a charge off account and debt settlement appear on the consumer's credit report?
Posted on
September 25, 2009
at
5:58 am
I'm not sure about this, but the creditor would write it on the report as a charge off..which will ruin the Payment History section of the consumer's score..but the consumer can recover from that, via debt settlement.
Posted on
September 25, 2009
at
6:01 am
I agree, once the charge off has been settled, the consumer can bounce back by re-establishing a good credit.I think the next question to ask is, how to prevent a charge off and debt settlement (again)?
Posted on
October 6, 2009
at
9:45 pm
To prevent a credit card charge off, moving forward: You need to make all your payments on time. It all goes back to the basics, if you really think about it. Proper budgeting is key for you to be able to allot resources towards the bills that need to be paid.
