Report credit free South Carolina

Instead, it seems that most everyone is advised to suck it report credit free South Carolina up and strap themselves in to snowballing through the debt and insane amounts of interest for the next 5+ years (report credit free South Carolina or more!). My question iswhy? Of course there are negatives to settlingthe hit to the credit score, right?but I have a friend who recently settled her 25k+ cc debt for 25% of its original amount and their score is still good (around 650). Although she could have kept up her monthly minimum payments (even though they took up 50% of her take-home pay and she would have been stuck in her hand to mouth existence), she purposely defaulted in order to settle. It seems almost logical to meshe stopped paying her monthly minimum payments, defaulted, spent a few months getting badgered by collectors while she stockpiled the money that would have gone straight out report credit free South Carolina the window to make the tiniest of dents in the debt, and then she settled and paid off those amounts in full with cash. Altogether, it report credit free South Carolina was an 8 month process as opposed to a several years long torturous journey. Is it an ethical report credit free South Carolina issue? Is that why settling seems to be considered a last ditch effort (report credit free South Carolina as in, only an option if youve already defaulted and have no other choices)? check credit online Or are there other negatives Im not seeing? - Jeff For report credit free South Carolina one, it is an ethical issue.

Planning ahead to take someone elses money then defaulting on that debt is just simply dishonest. Another factor is that report credit free South Carolina it does drop a bomb on your credit report, even if you negotiate it away. It has a pretty big negative impact, one that doesnt just affect the debts you might take on, but also affects job applications and insurance rates. Yet another factor is that youre hoping that the negotiation process goes the way you want it to. Youre betting on the company being willing to negotiate with you report credit free South Carolina and doing it in a smooth and expedient process, which does not always happen. If it doesnt, youre going to have a giant wound on your credit report for many years. how can i get a free credit report Not only that, youre also running a chance of being blacklisted from future transactions involving report credit free South Carolina that bank. I have a friend who simply cannot get a card from Chase, even though hes had strong credit for years, because of his previous default on a card from them. No one offering reputable personal finance advice would suggest borrowing a bunch of money with the intent of defaulting report credit free South Carolina and negotiating it away. Q6: Ignoring debt She is 24, has a degree in nursing, works full-time (three 12s = 26hours) at a hospital for $21/hr and is a whopping $130,000 in student debt (private school, no scholarships, and some bad decisions). Her monthly minimum payments are about $1050 a month, report credit free South Carolina for the next 20 years. The way I see it, she has two report credit free South Carolina options 1) pick up extra shifts, live extremely frugally, continue livinig with her report credit free South Carolina parents, and hopefully pay it off in 8-10 years, or 2) pay the report credit free South Carolina minimums, live her life, finally move report credit free South Carolina out on her own, and just ignore that $1000 a month for the next 20 years. I am ALWAYS an advocate of getting out of debt report credit free South Carolina as soon as possible, but in report credit free South Carolina this case, is it worth giving up your life and your independence for 10 years? order free credit report - Brittany It depends on whether she is willing to trade ten difficult years and ten report credit free South Carolina great ones for ten mediocre years in terms of her finances. Almost always, I would choose the ten difficult years and ten great ones. I would far rather live in a challenging situation for a while right now to have a great life sooner rather than later. Id always choose that over a middle-of-the-road situation both now and later.