Thanks. XXXXX tell them I'm looking at bankrupcy even though I'm on record of settling other accounts?
Thanks. What is the downside on my credit score if any, if I settle with a collection agency vs the creditor?
I have credit balances that I am paying on now. One closed acct at $3,500 that they gave me 4% on and a Sears card and a currently open Master Card. So when I finally resolve this settlement, I'll be paying on my daughter's Sallie Mae (original source of credit upset) I'm paying on time I'll start to rebuild.
How can I dispute Sallie Mae negative credit history entries. It's not my debt but cosigned. Still I have to pay and that's what ruined my credit in the first place. The reason why I went down the settlement road vs Chapt 13
I'd like to try to refinance my house this year and offset the income gains from the settlements. I was going to try to underwater govt loan. They don't need as high a credit score.
Got to get above 500 for that.
I thought I'd be finished with the settlements in June, but this last one is stubborn.
I saw a bankruptcy firm in January and they wanted me to file Chapt 13. I'm working... Still I thought I would not be able to dicharge any debt because I have an income.
Can't get rid of Sallie Mae. What resources are available for my daughter to deal with her debt burden. Anything looming in congress to assist?
She has a deferment set up with interest only payments. These cosigned loans were taken out in 2004 and 2005 w current rate of 5%. Trouble is that the principal doubled with her doing that. Now I'm on the hook for 40,000 instead of the orignial $22,000.
Any hope of the law changing on discharging student debt?
My daughter took out lots of debt, much more than the $40,000 I cosigned. I think she should file bankrupcy and get a better payment plan. If she did that could I get off this loan? Could she get a better deal w bankruptcy?
Would you recommend refinancing the debt. The new rate is lower but variable.
Is that available for Sallie Mae private loans? I tried to get her on the direct loan income based repayment when it became available. She did not follow through with documents and never completed the deal. That's where I get so frustrated. Her business, but not handling it and I get hit with paying.
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