2007-07-18 08:48:08 · 5 answers · asked by dadldo 1 in Business & Finance ➔ Credit
Most credit card companies - and collection agencies -, if you haven't paid in a while, will offer you a one-payment settlement option. So if you owed $6,000 and then didn't may for months or a year, you may now owe $10,000 (late fees and over-the-limit fees). The company may say, if you're ready to do something about it, "okay, if you can send us a check for ...$7000 we'll call it even and paid off."
So yes, call them and work something out. They want their money. And will work with you to get it.
2007-07-18 08:57:48 · answer #1 · answered by Jen 3 · 0⤊ 0⤋
Depends on how long it's been and what the credit card companies have done to collect the debt. If you are a few months behind and still have an active account, just start paying on it. If it's gone to collections, then you will need to check with them on your status. If it's already charge off, then you don't have to do anything.
2007-07-18 08:52:28 · answer #2 · answered by sortaclarksville 5 · 0⤊ 0⤋
Depends on if they are in collections, or written off. if so will pay them down but will remain on your credit score. Give them a call and see what they will work out with you.
2007-07-18 08:53:18 · answer #3 · answered by Pengy 7 · 0⤊ 0⤋
call the card company and explain whats happen and ready to take care of paying now. they will help you out.
2007-07-18 23:59:46 · answer #4 · answered by mianjl001 2 · 0⤊ 0⤋
Your credit will improve
2007-07-18 08:51:09 · answer #5 · answered by Mike Frisbee 6 · 0⤊ 0⤋