Originated from
QueryCAT

5 year old debt. Should I settle?

My debt is 5 yrs old and I have not settled on it yet. My financial situation is a little better now, and I can settle now. Question is, if I settle on the account now, will it stay on my credit for another 7 years? in addition to the 5? Is it a better idea to settle now? or wait it out another 2 years? Any expert guidance will be appreciated

Would you like to answer or comment?

Sign up for a free account, or sign in (if you're already a member).
Answer this question
  • # Posted 4 months ago
  • 457 views
Share Send to a friend Watch Report
 
 

Posted Answers

Order by
 

Settle anyway, even if it does appear on your credit.

Better to have a settled debt than an unsettled one. 
Posted 3 months ago ( permalink )
In reply to RecoveringBroke's question
Vin was invited by Yedda to answer this question.

Rated as
#3 out of 3
2
0
  Report Abuse  

Helpful?

line
line
line



 

now that ur finacial ability allows u to settle the long time debet,why not just go ahead to settle it.u sure will have soft pillow after the debet is settle.i am from online game service for wow ,LOTRO.AoC and MapleStory.welcome to our site www.agamegold.com or www.wow4s.com to get really cheap gold for such games.thanks for reading.^_^
Posted 1 month ago ( permalink )
Rated as
#1 out of 3
0
0
  Report Abuse  

Helpful?

line
line
line



 
DebtFreeDave
14 answers

DebtNegotiationZone

Settle your unsecured debt for 40-60 cents on the dollar

 

You should be able to settle it for a fraction of what you owe.  You can negotiate the debt.  It will be reported as a paid collection if you settle.  This actually is a positive in your credit report.  Go to DebtNegotiationZone for more information.
Posted 27 days ago ( permalink )
Rated as
#2 out of 3
0
0
  Report Abuse  

Helpful?

line
line
line



Sign in to participate

Got an answer for RecoveringBroke? Would you like to comment on the posted answers, or vote for the one which you think is the best?

Sign up for a free account, or sign in (if you're already a member).

Explore Related Questions

Other people asked questions on similar topics, check out the answers they received:


Chapter 7 - how long does it stay on your credit ...

chapter 7 - how long does it stay on your credit report
Submitted by c 7 days ago
  • 2 answers
  • viewed 41 times

Last answer posted 2 days ago by pearl


What is the ratio of ch 7 to ch 11 filings for ...

what is the ratio of ch 7 to ch 11 filings for businesses
Submitted by gwing 8 months ago
  • 6 answers
  • viewed 1195 times

Last answer posted 2 days ago by Lyz


I filed bankruptcy 3 years ago. I now have a ...

I filed bankruptcy 3 years ago. I now have a credit score of 565. Will I be able to obtain a car loan with this credit score ...
Submitted by jersey 3 months ago
  • 2 answers
  • viewed 159 times

Last answer posted 2 days ago by pearl



» More...

Explore Related Posts in Forums

Bankruptcy Notice From 1st Credit Finance / Moorehead James Bankruptcy Notice...

Before I file for bankruptcy, I was wondering if ... Knowledge.

Credit Card Debt When Bankruptcy Is Not Option, Legal Notice Received

Should I file Bankruptcy...

Should I Accept Charge Off On Credit Report Rather Than Bankruptcy

Spouse filing bankruptcy

Continued Collection after Bankruptcy

Bankruptcy vs Collections and Judgements?

I'm Filing Bankruptcy :(

Powered by
Feed - Subscribe to changes to this Q&A Blog