I owed $5500 to a credit card. I was trying to pay it off in full, but between high interest rates (22%), and the fact that I am over the limit ($1500 over), i decided to settle. They offered me a settlement of $2600, which I have to pay over a 6 month period. Now, upon looking on yahoo answers, everyone is saying that settling is the same as not paying it at all. Should I continue to pay on my settlement? If it is going to look the same overall, then there is no need to keep paying, however I am trying to fix my credit as best I can. Any advice would be appreciated!!
Posts Tagged ‘Payments’
How can I get my judgement settlement money now instead of monthly payments?
29
May
My mother has a condo (with a lease) that a woman was supposed to buy. Instead, she ducked out without my mother’s knowledge; to purchase a house. She broke the lease and I hired a lawyer and got jugement against her for over $6000.00 plus court and attourney fees. She asked the court to let her pay 25.00 a month and in the meantime went out and bought a new vehicle with a monthly payment of over $450.00. It will take over 22 years to pay my mom the money that she agrees she owes her. Is there a way that I can get my money in a lump sum ? Is there a legitemat way to get my money now, even if I have to take less or a % fee company that can get my money now? I’ writing this for my mother who is 81 years old . She needs this money now in order to supplement her income and to fix the condo so that she can sell it ?
I fell behind on my Chapter 13 payments. I have a settlement date on my house in 3 weeks..what should I do?
25
May
I filed for chpt.13 in Nov 2006. I am paying a 1500.00 mortgage, and a 1400.00 payment on the Chpt. 13 repayment plan. I have had tremendous trouble keeping up with the trustee payments.My Bankruptcy lawyer contacted me and said the trustee is going to close my case on monday unless I pay a back fee of 4500.00. Needless to say I dont have the money. I have a house on the market and a closing date of Sept 14th. The lawyer suggested that I let the trustee close the case and go to settlement on the set date to save me some money. My question is I have a vehicle and back taxes in the Chpt.13 plan. How does that factor in after the sale of the house? The lawyer suggests getting a tax attorney for the back taxes I owe. So what about the car? Also, since the trustee is going to drop the plan on Monday, what does this mean in terms of my credit and how it is reflected on my credit report. Is it still reflected as an open bankruptsy? Also, what about the money i paid into the plan? Help!
I’m up to date on my credit card payments, will debt settlement effect my credit score?
17
May
I’m not behind, I would like to settle because of the new interest rates my monthly payments are not reducing the principle.
Can you still get workman’s comp payments after a Settlement?
09
May
My mom is getting a settlement soon for an injury at work. We have been waiting for quite a long time for answers from her lawyer on when we would be getting the settlement. Recently, we talked to him and we will be getting the settlement soon, but it is not enough to really live off for too long. We need to know if you continue to get your regular workman’s comp.
Thank you so much.
What should a settlement agreement with collector look like, when they’ve agreed to accept monthly payments?
05
May
I recently spoke with a bill collector who agreed to waive interest on my charged off account, and accept low monthly payments on the principle amount of the loan only. I received a computer generated letter with the correct settlement amount, but it only says they expect my monthly payment on a specific date next month, but the letter does not expain that will be my first payment, or when my last payment will be due. What should a settlement agreement look like to insure everything is legitimate? Thanks
After getting a settlement check from insurance company is there anymore payments I need to make?
30
Apr
I was a passenger in a car that had a huge accident and now I’m about to receive a settlement check for almost 14,000. I was wondering if I can keep the the whole amount or are there other hidden payments that may come up later.
When making installment payments on a settlement amount, do you receive monthly statements?
26
Apr
If any of you have had a collector agree to waive extra fees, and accept monthly payments on a settlement amount, did you receive monthly statments, or just mail in your payments on the due date? Thanks
Also, this would be from a bill collector, not original creditor. Thanks
Do Lawyers get payments from insurance companies to get down the settlement payment?
14
Apr
Well the whole legal system is money making racket.
Where will I find information about make payments on a settlement amount on a past debt?
10
Apr
Past due debt that a creditor is willing to make a settlement with and I would like to make the settlement in payments
annuity with structured payments or get house paid off?
31
Mar
My mother recently passed away. My dad has recieved her life insurance and has cashed out her savings accounts. He wants to split this money between me and my brother. He said that mom asked him to pay off my house and to pay my brother’s way through school. He is going to set up an annuity account for my brother that will only allow him to get a set amount every month for the next 7 years. He wants to pay my house off with my half of the money. This is fine with me and what I would probably do with the money anyway. The catch is that when he pays off the house he wants the deed switched over to include his name. The deed is currently in mine and my husbands name. His reasoning for this is that he doesnt want us to be able to turn around and get the house refinanced. I asked if I would be able to get the annuity that my brother is getting and he said that I could however because the interest is lower on the annuity than on my home loan at the end of seven years I would still owe on the house. I dont know what to do. I don’t know what is the safest thing to do and need some advice. We already have about 45,000 built up in equity in the house. And we have no problem making the house payments now. thanks in advance for any advice thank you.
Can a bill collector sell a debt after they’ve agreed to accept monthly payments on a settlement amount?
08
Mar
Has anyone ever began monthly payments on a settlement agreement offered by a bill collector, and later the collector still took you to court for the full amount of the debt anyway? Or did the collector sell the debt to another collection office before your last payment date? Can they do this legally even if they’ve put it in writing?
I am facing a divorce settlement and want to know how to ensure I get my monthly payments…?
26
Feb
My husband has created fraudulent debts to make it look like I cannot cash out the equity in our home. Its a long story and has cost me over $4k in attny fees to get awarded very basic equity that he wants to make in structured monthly payments. There is a clause in my divorce papers that says bankruptcy is not an release for this debt. However, he has already made it clear he has no intention of making any of the monthly payments. His checking acct is continually overdrawn and he rarely pays banks and creditors on time, so there is little reason to believe I will get my money. I am wondering what experience you have to help me? I have requested a lein on the house (he wants it), an insurance policy or some other penalty be attached to non-payment, I also suggested there be a “bonus” for regular monthly payments (say a $1000 less owed). But my attorney has not responded to any of these saying “he has to pay”. But I know better. What did you do to protect yourself?
Structured settlement payments, can you change the way/amounts in which they pay out?
22
Feb
Once a structured settlement has gone into effect, can you rearrange they way you want to receive payments?