ok im 19 years old and I have bad credit about 3500 dollars worth of debt anybody kno of the best way to go about clearing up the debt without declearing bankruptcy or paying for it?
2006-11-30 17:59:45 · 7 answers · asked by ELLE 2 in Business & Finance ➔ Credit
You can negotiate with credit card companies. If you owe them $1000.00 offer to pay them in full if they will take $650.00 to settle the debt and mark it as paid in full. Do this with each one, but make sure you have the funds available to make good on the offer.
Most creditors will take the bait on this. If they turn you over to a collection agancy they lose 50% immediately (the fees charged by the collection agency to the creditor). So you are doing them a favor by offering more.
Then go one step further and make sure they remove any hits they had put on your credit while the debt was outstanding. Nag, write letters, nag. They will eventually remove the hits just to get you off their backs.
2006-11-30 18:35:54 · answer #1 · answered by maamu 6 · 0⤊ 0⤋
If you can, take anything you bought on credit back, & do so immediately. There is no such thing as wiping out bad credit without paying for it one way or another. Anyone who says otherwise is either lieing, or hacking into credit bureau computers & commiting fraud. If you haven't already, I suggest you read this article:
Should I Have a Credit Card?
http://watchtower.org/library/g/1999/12/22/article_01.htm
(Use the on-site Advanced Search to find the new URL when this one is modified: http://watchtower.org/search/search_e.htm )
2006-11-30 18:48:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The only option you have is to wait the 5-7 years before they come off your credit report. But then you will have scavenger collection agencies trying to get the money, illegally. Check the Fair debt and collection practices act for more information.
2006-11-30 19:11:19 · answer #3 · answered by laidbck111 3 · 0⤊ 1⤋
the purely way a credit heritage will be cleared is by a court order, and the purely way you receives one is that if the heritage is completely pretend, as an get mutually, the outcome of identity robbery. otherwise, you could no extra get rid of it than you could do away such as your medical record or delivery certificate. Sorry.
2016-11-30 00:17:22 · answer #4 · answered by Anonymous · 0⤊ 0⤋
credit card counseling and pay your bills on time..can't leave that route.
2006-11-30 18:03:18 · answer #5 · answered by Anonymous · 0⤊ 0⤋
It doesn't work like that.
2006-11-30 18:01:43 · answer #6 · answered by IMHO 6 · 0⤊ 1⤋
change ur identity
2006-11-30 18:08:46 · answer #7 · answered by vikramthebiker 3 · 0⤊ 2⤋