For instance, if you owe $1000 on a bill, and the creditor knows you are disabled and legally judgement proof. If you return to work, and are willing to pay the debt to the creditor, rather than file bankruptcy(which means I'm not liable for the judgement), will a creditor agree to have the late payment history removed and show the debt as paid in full, or just have it removed completely so that the debtor can begin to rebuild their credit history?
Most people would easily opt to file bankruptcy, but I would prefer to pay off my debt if the above arrangements can be made which works out for the creditor and myself. Please, do not respond to this question if you do NOT have something to back up your answer of yes or no.
I've had plenty of people tell me NO, based on their opinions. I'm looking for some type of law or valid LEGAL reason to explain why this is or is not possible. I figure, if the credit bureaus only report what creditor's tell them, perhaps this is possible.
2006-09-04
11:31:01
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5 answers
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asked by
Anonymous
in
Credit