- This topic has 7 replies, 1 voice, and was last updated March 17, 2008 at 10:40 pm by .
- March 17, 2008 at 10:40 pm #256702
If you call and speak to someone at the credit agency
and explain to them your situation you will probably
get somewhere. REmember that something is better than
nothing. Maybe you could say something in the lines of
“I can afford to pay you $xx.xx per month or $xxx.xx
in total but that is all I can do. I will have to
borrow that as well. But in return no more interst and
this is in full settlement.”
Get everything in writting. Filing bankrupcy could
cost you your house. The laws have changed
drastically. It is harder for people to file for
Try getting a consolidation loan (if possible) to
cover your settlement amounts. That would be better
than borrowing from your sister. Trust me. My brother
borrowed money from me and hasn’t paid it back. It has
put strain on our relationship. I won’t help him
There are free credit councing centers that you might
want to check out as well. Also if any are in
collection (I am sure there are since some have
attorneys involved) contact the collection agency and
see what it would take to settle. They can sometimes
get what you can’t get approved.
This is a deep hole you have doug yourself into it
will take a lot of hard work and time to get it
straightend out. In about 10 years (after all is paid)
your credit will be getting better. The first thing to
do is to make sure that your house is not getting a
lein on it. Have the attorney do an abstract to make
sure there is no lein.
Unfortunatly you may have to borrow some money from
your sister as you may need some research done that
could cost some money but keep it limited and make
sure that you pay her back. (even if it’s ten dollars
Also have you been paying your creditors? Even a
couple dollars a month shows good faith. They would be
more willing to work with you if there is some form of
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